TWO QUERIES

I received 2 queries for my post :

Q) What will happen if NIFTY FUTURES closes above green line with volumes ?

A) Add 300 points to that day’s level which I have mentioned.Say if Nifty Fut closes above 5646 on Tuesday,the level for Tuesday, add approximately 300 points to it so target will be 6000 approx.But close above the green line has to be with volumes and it should stay above it for 2 days.

Q) What if it does not touch the Green Line ?

A) If it does not touch the green line, see from where it is reversing i.e see resistance levels mentioned by me.The levels of  resistance given by me are 5499 ,5555, 5609 and 5725 the Big Black Candles or Wide Range Bars.So if Nifty Fut cannot close above those levels, then chances of it coming down are likely.So below 5480 is the 1 st level from which bearishness may start and then 5250.

 

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NIFTY FUTURES

MY NEXT POST WILL BE ON 1 ST SEPTEMBER

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES 5460.7  +46.40    5414.30

Nifty Futures is moving in a down sloping channel and is trying to touch the upper green Channel line.Some hurdles on the way up will be 5499 the top of the Last engulfing black candle, 5609 which is 50 % level of another big Black Candle and finally it may reach 5725 which is the top of the previous Big Black Candle.Big Black candles are areas of resistance.

The upper channel levels are for Monday 5669, Tuesday 5646, Wednesday 5623, Thursday 5600 and Friday 5577 .

On Weekly Charts it has formed a very Big Hammer with volumes .5480 — 5555 is the Bull Bear Zone.A weekly close above 5555 may stall the downtrend for the time being.Weekly close below 5480 will again provide Bears the upper hand.

Any Daily Close below 5250 will be Bearish.

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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES  5414.3   + 122.7  ( 5291.6 )

Yesterday I said, that one can go long near the lower channel.And today you see, Nifty Futures moved up by 122 points.Yesterday Nifty Futures, mostly made a Last Engulfing black Candle Pattern .This will be confirmed, if it closes above 5498.70.Also today Nifty Futures made a Piercing Candlestick Pattern, thus reinforcing the bullish scenario.Though Piercing Pattern is not a very solid bullish pattern, longs should be protected by a StopLoss on closing basis below 5250.Target for the longs is the Upper Double Channel , green line, marked 6, the values for which are for tomorrow 5693, for Monday 5669, and Tuesday 5646.The values are decreasing since it is a Falling Channel.

This is the Characteristic of a Capitulation where, because of heavy volumes on selling, an imbalance is created and Violent Bullish candle is created.This happens, when the LAST SELLER has SOLD.

Mind a move below 5250 is bearish.

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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk

NIFTY FUTURES ( 5398.25)  – 106.65  5291.6 

Nifty Futures is entering the Capitulation phase.It is still moving in a downsloping channel. Lower level of the channel is 5306 and Upper level is 5643. One way to trade these channels is to buy with strict stoploss near the lower channel.Wait for it to move inside the channel.Failure to move inside the channels is bearish.

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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk

NIFTY FUTURES (5416.75)  -18.5    5398.25

Nifty Futures as I mentioned crashed after breaking 5480. We have yet to see a Weekly close below the said level. On the daily charts, NiftyFutures is moving in a downsloping channel.The levels for tomorrow are 5664 ( Upper channel) and 5306 ( lower channel) . Nifty Futures will turn bullish only if it can break the upward channel. Since Nifty Futures has formed a big Hammer, avoid shorting at current levels and watch for the next clue.

NIFTY FUTURES DAILY

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NIFTY FUTURES

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES (5748.3)  -243.30    5505

Nifty Futures has come to the Neckline of the bearish shoulder head shoulder formation on the Weekly Chart.Watch the level of 5480, which is the lowest point on the neckline.Two weekly closes below it will be bearish.

On the daily chart, Nifty has formed a wide range black candle and it will provide resistance at 50 – 61.8 % of the said candle.the levels are 5608.85 and 5636.18 

The wide range Candle may provide some sort of pullback or sideways market conditions for the time being.Failure to break 5480 will be bullish.

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