After a sharp cut of 500 pts in Nifty Futures (5950 to 5450) in last 2 weeks, Expect a small pullback upto 5640 which is 38.2% Fibonacci Retracement of the current fall from 5970 to 5445. Use this to reduce your Long Positions as bouts of Selling Pressure would be witnessed on all rises. If 5664 is not crossed & sustained, then it may only be a PullBack & not a Bullback.
Going Forward,
Nifty Fut will face stiff resistance @ 5645-5664 levels crossing & sustaining abv which further Momentum would lead to 5758 & 5839.
But, If fails to cross & sustain abv 5664, Will be in a trading range 5419-5664.
Strong support lies @ 5420-5426.
If breaks & closes below 5419, it may touch 5335 & 5240.
Nifty Fut will face stiff resistance @ 5645-5664 levels crossing & sustaining abv which further Momentum would lead to 5758 & 5839.
But, If fails to cross & sustain abv 5664, Will be in a trading range 5419-5664.
Strong support lies @ 5420-5426.
If breaks & closes below 5419, it may touch 5335 & 5240.
Be quick in your Trades as Movements are expected to be very spiky & Trade with Stricter SL. When in Profits, Either book Gains or Keep Trailing with a revised SL in order to maximize gains & reduce Risk Factor.
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Disclaimer :
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
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