Nifty Futures Trading Analysis – 31Jan2019

nifty-futures-15min-chart-analysis-31jan2019

Nifty Futures did not break their 20 SMA line on 15 min chart the whole day, which is very bullish. As soon as they bounced back from the testing at 10,780 level today morning, that was a good opportunity to create fresh long positions with Nifty futures.

Today, Nifty has crossed its 200 day SMA in good style, and it should help further upmove. Nifty was trying to attempt a fresh break out above 11,000 level which not been successful in the last 4 attempts in the last 2 months. The Union Budget on 01 Feb 2019 may give Nifty a chance to do that breakout, or do a break down!

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