Get free share market NSE & BSE stocks, cash equity, futures, options, and all nifty trading tips and market research reports that enhance your knowledge and take your trading game to the next level.
Nifty Future tired to take Resistance of 6017
As seen in hourly chart, NF taken Resistance as 5999-6008
Down-Break Out 5948
(Suppose to break and stay below it…then NF can fall more 5899 and 5876)
Crossover – 6023
then watch, 6066-6079
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
This is just a brief follow up since tomorrow morning I will be busy and today’s inconclusive price action with another small range body (Spinning Top) does not add anything new to the short-term potential scenarios I have discussed in the weekly technical update.
For the immediate time frame price remains range bound between the immediate support at 1398.23 and the immediate resistance at 1423.73.
Theoretically, despite being close to a potential break out the daily Spinning Top is suggesting weakening of upside momentum, but it is unlikely to expect a meaningful pullback ahead of the FOMC.
It seems that the market remains, so far, careless to Risk off news from Europe and a potential, at least, short-term reversal of the EUR, the approaching FOMC meeting may be the reason behind this benevolent attitude.
Therefore, at the moment there is no clear edge within the potential EWP options that I showed this Sunday.
Also, it is strange that at today’s EOD we have VIX up Equity up and bonds up.
Below in the 30 min SPX I show the same ideas:
Additionally, the scenario of a ZigZag with a wave (C) unfolding an Ending Diagonal is still possible as long as 1410.90 is not breached.
If this ED pattern plays out it could have a bearish outcome by ending the assumed wave (B) off the September 14 high since we would most likely have negative divergences in the final wave (V) of the ED.
Conclusion:
Regardless of a potential pullback I maintain a bullish bias (until technical evidence shifts to the bears camp) since the pattern off the November lows is not complete yet.
THOUGHT FOR TODAY
——————————
Mind Matters
The most important part of you is your mind (not your brain – the brain is the hardware and the mind creates the software). Care for your mind, make friends with it, always feed it healthy food, engage it in positive activity, exercise it with knowledge and wisdom. Like a garden returns fragrance and beauty according to the care invested, so your mind will repay you with thoughts, ideas and visions of great beauty when tended and invested with care. Your mind is not made of matter but it does matter what you give it and what you create with it. Where your mind goes, you go. What your mind creates becomes your destiny.
Nifty Future
(Updated on 11-12-2012 at 07.40 AM)
Yesterday mentioned 5960 is little strong hurdle.
Nifty Fut could not take out and made high at 5955.
Also written 5922 is strong support
and see Nf made low at 5923.80.
Now for Today………….
5954-5961 hurdle zone.
Crossover with sustained vol and price may take NF up to 5973-5989.
5931-5922 intraday support zone.
break below will drag NF up to 5892-5884.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
THOUGHT FOR TODAY
——————————
Forgiveness
Forgiveness does not change the past, but it does enlarge the future.
(Updated on 10-12-2012 at 07.40 AM)
Friday mentioned break below 5957 except slide
up to 5936 and support at 5926.
Nifty fut made low at 5922 and closed at 5944.90
Now for Today…
5960-5665 hurdle zone.
Crossover 5974 with sustained vol and price may
take Nifty fut at 5989-6008.
5931-5922 intraday support zone.
Break below will drag NF up to 5892-5884.
Closing below 5876 may take NF lowers up to 5809-5796.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Nifty future is trading 5972 around with high of Friday 5982. You will see here great struggle for nifty future. Last day of daily candle of nifty future is very dangerous for nifty direction. As can be seen below chart of the Nifty future is struggling to crossover of the 6000.
Recently, volatility has been pretty choppy, but the Volatility Index is not showing considerable fear. Just watch the chart and forget all…
You can see in daily chart, there are small support for nifty future which is 5925 around… Short Seller can start book profit over this area. So this is 1st target of Short Seller of NF.
You can also observe strong long-term trend crossover? Single-Daily Chart bullish for nifty 6019-6068.
Just, watch closely, You can trade on this chart…
I hope, you will enjoy of nifty future… To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
THOUGHT FOR TODAY
Create Vision
Never believe anyone who says we cannot change. Vision is one of the secrets of personal transformation. We are all artists, our mind is the arena of creation and vision is what we are constantly creating. What is your vision of yourself today – patient, relaxed, positive or tense, tight and negative? What do you prefer? So be creative – what does patience look like, feel like, what are you doing that is different when you are patient and you are expressing your power to …wait? Always start with vision not action. See it and you will be it. Be it and you will do it. This is how we create our own life.
(Updated on 07-12-2012 at 07.10 AM)
Yesterday morning, well before the market opening bell
I had written that Nifty Future had good support at 5870.
Just see how amazing our projection is.
Nifty future made low at 5870.10
and took U turn to close at 5970.65.
Break below 5957 Slide up to 5943-5936.
Crossover 5984 see NF moving higher up to 5997-6008.
5926-5913 good intraday support.
5890 crucial support.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.