February month has been a volatile roller coaster ride in Nifty futures so far with Nifty Futures swinging back and forth 500 points (total of 1000 points swing) with increasing intraday volatility. Managing trades with a reasonable stop loss is bit difficult with the given intraday volatility & faster price swings.
Last two weeks the major theme in the markets is Crazy volatile swings. Crazy intraday swings in the market would make trading complex for most of the traders during those days.
Nifty Futures closed at all time high on Thursdays trading session. However still the overall market is in short term balance between 9300-9380 range since 26th Apr 2017 and consolidating for the last 6 trading sessions. Nothing much changed from the last top down analysis on nifty futures. Volatility in the market remains muted and banknifty is outperforming nifty future heavily in the past few trading sessions.
On the Monthly charts – Trend is up and one timeframing for the last 5 trading months. Weekly timeframe trend is up and also got out of the 3 week balance and also onetimeframing for last three trading sessions. And on the daily charts Bank nifty futures is in one-timeframing mode for the last 6 trading sessions.
On the Monthly charts – Trend is up and one timeframing for the last 5 trading months. Weekly timeframe – trend is up and very less rotations seen. However on the daily charts bank nifty futures is in short term balancing mode and looks structurally weak due to the nature of consecutive overlapping consolidation phases as shown below. Fridays session is a inside bar and also price trades at the very top of the short term balance witnessed on the EOD chart.