Nifty Futures Trading 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!

Nifty Futures Trading Analysis – 21Nov2017

Nifty futures have bounced back nicely from their support level at 10,130 and they have also successfully crossed the downtrend resistance line at 10,220. Therefore Nifty futures can now go and retest the levels of 10,500.

[Bonus Trade] Buy Nifty Futures at 10,350 for Target 10,480 and Stop Loss 10,230.

Nifty futures rally in Oct 2017 was impressive, and the futures may retest 10,130 level on any weakness coming from S&P500 index or local events like Gujarat elections.

Nifty futures are likely to become volatile below 10,200 level, and below 10,130, they will almost immediately test 9900-10,000 level. Large traders can hold Dec 9800 put options as a protection for their long positions.

Nifty Futures Trading Update – 28Dec2016

Nifty Futures (Jan) have closed today at 8051. They reversed sharply from 8120. So Nifty futures lost 70 points in the afternoon with non-stop selling which started at 8100 on the Nifty index. This 8100 level was a known resistance but the extent of selling was a surprise, because it completely removed any gains made in the day.

Nifty intraday chart looked strong till around 1.30 pm and it looked like Nifty could close today at 8080-8100 level but Nifty closed at 8034, almost 50-60 points below where it should have closed.

4 months have passed since weakness started in Sep 2016.Sustained FII selling has reduced the confidence of other traders and investors and nobody wants to hold Nifty for more than 100 points – very short term view is prevailing. While FIIs are selling, DIIs are buying in a good way. We should get good gains from current level for exactly this reason. This is a reliable Nifty Futures Trading Strategy. But first, Nifty has to cross 8100 to become safe again, and for any kind of real short covering to come.

Today is 28 Dec 2016, Dhirubhai Ambani’s birthday and I am grateful to him for all his advice and guidance. Thank you.