hitendravasudeo

  NIFTY PE on closing of 07/06/2023 is at 21.81. The chart pattern on NIFT PE suggest that it could test 22.60 as shown in the chart. Alternatively, RSI overbought on NIFTY PE could be the next objective for market. At current NIFTY PE of 21.81 NIFTY stands at 18726. If NIFTY PE hits 22.60 then potentially NIFTY could be at 19300 or above. This could happen in its own time.

  Nifty- Bullish Gap was covered as shown in the chart. The low registered till now 18550. Further correction for intra-week to intra-month can resume if sustains below 18550. In near term, breakout and close above the recent peak 18742 has to be crossed with bullish candle to continue the higher top and higher bottom sequence. Next support from earlier swing higher bottom will be at 18290 and 18163.

 Dated 20/05/2023 Contrarian Pivot Trading Strategy Available on F&O Trading Sheet Live. F&O Trading Sheet NF BNF FUTURES Basket based on Cash Price of for Intra-day. Can be applied on Futures and Cash. The Execution can be in Futures, ATM Call or PUT when the conditions are fulfilled.

  NIFTY PE now in overbought zone after the breakout from the inverted head and shoulder on NIFTY PE. The effect can carry the NIFTY PE towards 22.60. Since RSI of NIFTY PE is in overbought zone it could be peak or spike to 22.60 and peak out. This only indicates that Nifty could be running into the upper end of the current cyclical up move. Traders can look out of swing top formation on NIFTY. On EOD chart 18200 is critical. During market time NIFTY is registered a gap down today and low till now during market time is 18194. On close below 18200 with bearish candle can mark a swing top.  If continues up and crosses the 2 days' high of 18389 then rise continues. Trend is up on Dynamic Trend and Lagging Trend irrespective of volatility. RSI on NIFTY is slipped a bit therefore critical to survive at the end of the day now with bullish candle. An Out Day will be required today to cross 18389 or show a breakout tomorrow or in next trading session above 18389.

 

 Dated 29/03/2023 NIFTY MARCH 2023 contract expired and exhibited lower top and lower bottom formation. Lower top are marked with T on top of circles. Lower bottoms are market with B below the low of the circles. Near term range for Nifty now is 17238 to 16866. Reversal process can resume if C1 chart and April contact sustains above 17238 on closing. First it will be a pullback of the fall from Lower top of 17863 to 16866. In April contract chart, the lower top is at 17330. April contract closed at 17213 with bullish candle on expiry day of March 2023. Volume chart to rise in April 2023 contract as it become active. Volume of 29 March 2023 in April 2023 contract is highest therefore low of the same day 17052 will be critical for near term trading perspective. Downside movement and momentum will continue if sustains below open of the day every day and henceforth for near term and below 17052. The range in April contract is 17330 to 16964. Breakdown in April 2023 contract will be bel...

Dated 28/032023  NIFTY 16700 critical support NIFTY has been in down trend since 15 December 2022. RSI moved down below 55 mark on 15th December 2022. Dynamic Trend Down as well since 15th December 2022 closing of 18467. Nifty even since 15th December 2022 has been forming a lower top and lower bottom formation. Lagging Trend has been down trend since 23rd December 2022 closing of 17863. A combination of Dynamic Trend and Lagging Trend has lead to a slide to current levels. Support critically is at 16700. Nifty needs to hold the level of 16700 for time to come. Reversal process can resume if close is above the lower top of 17280 on daily chart. Tight trading stop loss for short position can be at 17125 for traders already in short position. However objective still remains to exit long and sell on rise to 17142 or above till 17280 is not crossed on daily chart. Monthly Chart Lower high and lower low has been seen for last 3 months since January 2023 with negative and bearish candle ...