Nifty Futures trading in 10600 – 10900 range and this range is getting even tighter possibly 10700 – 10900 in the near term as the call/put writers are writing at tightly packed zones. When Comes to Nifty Futures Index short stops are hunted in a phase manner. And more short term stop clusters are in the zone from 10790 – 10850 levels. Short term sentiment maintains positive for last 5 trading sessions.
USDJPY tested April 2017 low on fears that Pyongyang (North Korea) would launch another missile test over the weekend, which had added to last Friday’s USDJPY selloff. Last friday Yen had made a low around 107.32 followed by a strong pullback on monday leaving a strong tail on the bar chart again. Its the second time the pattern is repeating on north korea fears with a short term trade setup.
EURUSD is consolidating on the monthly and Weekly timeframe and negative sentiment prevail there. However on the Daily charts trading sentiment turned positive. Since the start of FEB 2017 EURUSD is in declining mode and so far twice EURUSD rallied from the intermediate lows formed around 1.0500 levels. It could act as a potential support zone in the upcoming day.