Tradebulls Securities (P) Ltd

Published on 9/07/2020 9:38:46 AM

Nifty

Nifty saw yet another weak pattern ‘ Dragonfly Doji’ amidst the ongoing cluster of ‘Stars’ formation which have been occurring since last few days. But the index continues to oscillate higher within its upward sloping channel while its corresponding RSI value has been declining. On the daily scale the developing price structure also resembles a classic ‘Wedge’ formation & does exhibits its characteristics. It has managed to close above its 200 DEMA of 10514 but with not yet witnessed a strong bull candle formation; the zone is also of major importance been the 61.8% retracement of its JAN-MAR fall. Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength. Hence its ideal to refrain from leverage longs & maintain a trailing stop strategy. Due to its overbought state fresh shorts are warranted only on a breakdown below 10300 with a follow through move below 10180 for a move towards 10000.

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Tradebulls Securities (P) Ltd

Published on 8/07/2020 10:36:12 AM

Nifty

Nifty saw yet another weak pattern ‘ Dragonfly Doji’ amidst the ongoing cluster of ‘Stars’ formation which have been occurring since last few days. But the index continues to oscillate higher within its upward sloping channel while its corresponding RSI value has been declining. On the daily scale the developing price structure also resembles a classic ‘Wedge’ formation & does exhibits its characteristics. It has managed to close above its 200 DEMA of 10514 but with not yet witnessed a strong bull candle formation; the zone is also of major importance been the 61.8% retracement of its JAN-MAR fall. Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength. Hence its ideal to refrain from leverage longs & maintain a trailing stop strategy. Due to its overbought state fresh shorts are warranted only on a breakdown below 10300 with a follow through move below 10180 for a move towards 10000.

Click Here - https://bit.ly/3iFxCRo

Please refer disclaimer at https://www.tradebulls.in/disclaimer

Tradebulls Securities (P) Ltd

Published on 7/07/2020 10:33:45 AM

Nifty

Nifty saw yet another ‘Star’ formation while it continues to oscillate within its upward sloping channel while its corresponding RSI value has been declining. The pattern also resembles ‘Wedge’ formation characteristics. It has managed to close above its 200 DEMA of 10514 but with a Doji Star formation; the zone is also of major importance been the 61.8% retracement of its JAN-MAR fall. Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength. Hence its ideal to refrain from leverage longs & maintain a trailing stop strategy. Due to its overbought state fresh shorts are warranted only on a breakdown below 10300 with a follow through move below 10180 for a move towards 10000.

Click Here - https://tinyurl.com/y94aqpqs

Please refer disclaimer at https://www.tradebulls.in/disclaimer

Tradebulls Securities (P) Ltd

Published on 6/07/2020 10:26:07 AM

Nifty

Nifty has been oscillating within upward sloping channel while its corresponding RSI value has been declining. The pattern also resembles ‘Wedge’ formation characteristics. It has managed to close above its 200 DEMA of 10514 but with a Doji Star formation; the zone is also of major importance been the 61.8% retracement of its JAN-MAR fall. Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength. Hence its ideal to refrain from leverage longs & maintain a trailing stop strategy. Due to its overbought state fresh shorts are warranted only on a breakdown below 10300 with a follow through move below 10180 for a move towards 10000.

Click Here - https://tinyurl.com/y9bf6pxu

Please refer disclaimer at https://www.tradebulls.in/disclaimer

Tradebulls Securities (P) Ltd

Published on 2/07/2020 10:45:56 AM

Nifty

Nifty remains constrained within the range for 5th trading session in a row. It has been hovering within its ‘Engulfing Bearish’ formation which occurred last week around the confluence zone of its 200 DEMA & 61.8% retracement of the JAN-MAR fall around 10551. The negative divergence displayed by its corresponding daily RSi value inline with the resistance zone of its 200 DEMA at 10510 remains a concerning fact for the sustenance of the ongoing strength. The pattern setup is yet another sign of diminishing strength & a breakdown below 10200 from hereon would confirm the bearish reversal pattern & commencement of the counter trend. Hence it looks ideal to utilize the ongoing rally to book profits in existing folio longs while trading positions should be adequately hedged. While fresh shorts could be deployed once the reversal formation even on the on the daily scale would get reaffirmed on a breakdown below 10200. Until then traders could retain long-short combo positions while the index rests within the oscillating range of 10550-10250.

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Tradebulls Securities (P) Ltd

Published on 1/07/2020 9:29:38 AM

Nifty

Nifty has been hovering around the ‘Engulfing Bearish’ formation which occurred last week around the confluence zone of its 200 DEMA & 61.8% retracement of the JAN-MAR fall around 10551. The negative divergence displayed by its corresponding daily RSi value inline with the resistance zone of the ongoing channel pattern remains a concerning fact for the sustenance of the ongoing upmove. The pattern setup is yet another sign of diminishing strength & a breakdown below 10200 from hereon would confirm the bearish reversal pattern & commencement of the counter trend. Hence it looks ideal to utilize the ongoing rally to book profits in existing folio longs while trading positions should be adequately hedged. While fresh shorts could be deployed once the reversal formation even on the on the daily scale would get reaffirmed on a breakdown below 10200. Until then traders could retain long-short combo positions while the index rests within the range.

Click Here - https://bit.ly/2YKOn5D

Please refer disclaimer at https://www.tradebulls.in/disclaimer