Nifty Analysis : 13 May 2019

-
Nifty Analysis : 13 May 2019

Hello Friends,

As mentioned in my previous post, Nifty was already facing strong selling pressure.

Today, on 13th May, Nifty traded sideways and faced selling pressure in last 30 Minutes & closed at 11148.20.

During the day Nifty had touched low of 11127 which is exactly at 100 DMA.

For Tomorrow, We may see more selling pressure due to Global news (China announced retaliatory tariffs on U.S. goods)
While writing this post, Dow Index is trading down by 2.68% (nearly - 700 Points)

This will surely trigger further sell off in global markets.

SGX Nifty  futures extended losses and is trading at 11,088.75.

We may have gap-down opening and could see further selling pressure on Nifty



If we apply Ichimokou Cloud Indicator we can see prices have just managed to closed within the cloud.

Prices trading below the cloud indicates more selling pressure can be seen and more down side can be expected.



-------------------------------------------------------------------------------------------------------------------------
Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose. 
I am not responsible for any gain or loss arising out of trades taken based on the study shared above.
-------------------------------------------------------------------------------------------------------------------------

Comments

Post a Comment

Popular posts from this blog

Nifty Analysis Week ended 10 May 2019

-
Image
Nifty Analysis Week ended 10 May 2019 Hello Friends, This is my first and newly started blog especially for Nifty 50 Index analysis. I will be posting Technical analysis of Nifty 50 Index. Weekly Chart Analysis: This is high volatility period for Indian Markets as we have important political events, yes.. Election outcome. We can clearly see, that nifty is not able to sustain above resistance levels & during last week there was a sharp fall. There was huge selling pressure throughout the week. In the below chart, I have 50 period moving average which had given good support / resistance in the past. Daily Chart Analysis: On the daily chart, RSI had given early indication of weakness in the up move by showing negative divergence. Overall fall has retraced between 38.2% and 50% Fibonacci levels. Prices have already fallen 5 % from high of 11856 to 11251 For next trading sessions, its interesting to see if Nifty takes support around demand zone (marked wi
Read more

Nifty Analysis : 27 June 2019

-
Image
Hello Friends, On 27th June, monthly expiry day, nifty opened at 11860. During the day it touched high of 11911. Nifty washed out initial gains in the last couple of hours of trading session. Nifty failed to sustain above 11900 and corrected to hit intraday low of 11821 before closing flat at 11841. On daily chart, it has formed a bearish candle with long upper shadow which is similar to shooting star pattern. The pattern confirmation will come if nifty breaks 11820 on the down side and come under further selling pressure. 4th July weekly expiry option chain shows highest Call OI at 12000 and highest put OI at 11800 followed by 11700 levels. These levels should act as important resistance and support levels for the coming trading sessions. Due to upcoming budget on 5th July, we may see high volatility during the week. -------------------------------------------------------------------------------- If you like, please follow the blog to get the regular updates of ne
Read more

Nifty Analysis Week ended 31 May 2019

-
Image
Hello Friends, Last week on 23rd May Nifty touched it's all time high of 12041 and shaded all gains due to profit booking. These week as well, nifty did not broke it's last week's trading range. During the week, Nifty traded in the range of 11800 & 12040. Let's look into weekly and daily charts for analysis... Weekly Chart: We can see selling pressure at 12000 to 12050 levels, which has pushed nifty below 12000 for 2 weeks in a row. On the weekly Chart nifty have formed inverted hammer pattern for this week. This week's range becomes support and resistance and sustainable breakout will be important to see further trend. Daily Chart: Bears have managed to push nifty for negative closing for 3 out of 5 trading sessions. Nifty movement has been range bound between 11800 and 12050. RSI, an important indicator is neutral. 5 DMA continues to provide support on daily chart. Options Chain Analysis: For 6 June weekly expiry option chain,  118
Read more