Nifty Review and Analysis for 2nd August
In my earlier post I have warned you guys about volatility and unexpected sudden movement in Nifty. Which we are seeing after nifty breaking 15600.
It could be due to big players suffered loss and trying to recover that. As a retail trader your duty is to not get trapped in any side, bull or bear. If you see the 30th July chart of Nifty, you can clearly see how wild Nifty was. On 30th July Nifty opened gap down and recovered, until 1.40 pm it was sideways. At 1.40 pm it given a breakout above 15845 but was unable to sustain above 15845 and from there Nifty fell down 100 points.
This game of Nifty going up and down will continue until there is a clear positive or negative signal. Nifty will be considered Bullish if Nifty gives breakout above 15960 and sustain otherwise it will be trap always. Nifty will be considered bearish below 15000 and before reaching there Nifty should give breakdown below 15500. These are very important levels for now to remember.
Let's take a look at Global scenario now. Every Global market in Negative but SGX Nifty is positive. You maybe getting confused now, well SGX Nifty is close to Nifty and Indian market take queue of opening from SGX Nifty as well as Global market. So on Monday you can expect a volatile and sideways movement until European market opens. After opening of European market we can expect a upside or downside move around 1 pm to 2 pm.
Key points:
Nifty made negative candle on daily chart of 30th July.
Major Global indices showing negative signal on their respective chart.
Nifty may again test 15845.
Nifty has taken support from 15745.
Below 15725 to 15715 more selling is expected.
Always use STOP LOSS order.
DON'T TRADE IN THE FIRST 15 MINUTES OF MARKET OPENING.
If this helps you, don't forget to like and share with your near and dear ones. Thank you.
It could be due to big players suffered loss and trying to recover that. As a retail trader your duty is to not get trapped in any side, bull or bear. If you see the 30th July chart of Nifty, you can clearly see how wild Nifty was. On 30th July Nifty opened gap down and recovered, until 1.40 pm it was sideways. At 1.40 pm it given a breakout above 15845 but was unable to sustain above 15845 and from there Nifty fell down 100 points.
This game of Nifty going up and down will continue until there is a clear positive or negative signal. Nifty will be considered Bullish if Nifty gives breakout above 15960 and sustain otherwise it will be trap always. Nifty will be considered bearish below 15000 and before reaching there Nifty should give breakdown below 15500. These are very important levels for now to remember.
Let's take a look at Global scenario now. Every Global market in Negative but SGX Nifty is positive. You maybe getting confused now, well SGX Nifty is close to Nifty and Indian market take queue of opening from SGX Nifty as well as Global market. So on Monday you can expect a volatile and sideways movement until European market opens. After opening of European market we can expect a upside or downside move around 1 pm to 2 pm.
Key points:
Nifty made negative candle on daily chart of 30th July.
Major Global indices showing negative signal on their respective chart.
Nifty may again test 15845.
Nifty has taken support from 15745.
Below 15725 to 15715 more selling is expected.
Always use STOP LOSS order.
DON'T TRADE IN THE FIRST 15 MINUTES OF MARKET OPENING.
If this helps you, don't forget to like and share with your near and dear ones. Thank you.
Feragatname
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