WITH THE COMING WEEK BEING THE EXPIRY WEEK AS WELL AS HE MONTH ENDING WEEK THAT TOO BEING A TRUNCATED ONE WITH WEDNESDAY 28TH NOV BEING A HOLIDAY, ONE SHOULD BE REASONABLE SURE THAT OPERATORS WILL HAVE NIFTY CLOSING BELOW THE EARLIER MENTIONED LEVEL OF 5700 TO HAVE SUFFICIENT UP SIDE SPACE FOR NIFTY TO MOVE UP DURING THE MONTH OF DECEMBER. SO, EVERY DECLINE MAY BE BOLDLY BOUGHT INTO AND BOLDLY HELD FOR GREAT GAINS IN THE NEAR FUTURE. THE INDICATORS IN THE DAILY CHARTS ARE HIGHLY OVERSOLD THAT SUGGEST UP SIDE TO MUCH HIGHER LEVELS AFTER THE OPERATOR ACHIEVE THEIR NOV EXPIRY TARGET OF SUB 5700. TRADERS & INVESTORS MAY KEEP A CLOSE WATCH ON THE FUTURE LEVEL OF 5665 TO 5670 . THE CANDLE OF 15TH & 16TH NOV HAD FORMED A RED HAMMER & AN OUT SIDE WRB WITH THE 16TH NOV MOTHER CANDLE
HIGH OF 5665. SO A DECISIVE BREACH & SUSTAINING ABOVE THIS CRITICAL FUTURE LEVEL OF 5665 TO 5670 WILL GENERATE CARGO SIZE SHORT COVERINGS TO PROPEL NIFTY FUTURE TOWARDS MUCH HIGHER LEVELS. SIMILARLY ON THE LOWER SIDE, ON ANY DAY DURING THE COMING TRUNCATED EXPIRY WEEK, SHOULD THE BULLS ALLOW NIFTY FUTURE SLIP BELOW THE CRITICAL LOWS OF 5596 TO 5597 FUTURE LEVELS, WHICH WERE THE LOWS OF 21ST & 23RD NOV, THEN BULLS SHOULD QUICKLY CONVERT THEMSELVES AS BEARS TO INITIALLY SEE 5550 FOLLOWED BY 5500 OR LOWER LEVELS.
SO, FOR THE COMING WEEK GO LONG SHOULD NIFTY FUTURE BREACH AND MORE IMPORTANTLY SUSTAIN ABOVE 5665 TO 5670 ZONE TO SEE HIGHER LEVELS OF 5733 & 5782 TO AIM FOR THE NEAREST SWING HIGH OF 5818 FOLLOWED BY OCTOBER MONTH HIGH OF 5855 FUTURE LEVELS. SIMILARLY GO SHORT BELOW 5595 TO 5590 TO SEE LOWER LEVELS OF 5555 TO 5500 FUTURE LEVELS IN QUICK TIME.
FOR MONDAY 26TH NOV INTRADAY TRADING PURPOSE, NIFTY FUTURES WHICH HAD CLOSED AT 5630 ON FRIDAY, UNDER NORMAL CIRCUMSTANCES SHOULD OPEN WITH A GAPUP ( BUT DO NOT BE SURPRISED TO FIND DOW OPERATORS KEEPING THE DOW FUTURES NEGATIVE ON THE MORNING OF MONDAY TO NULLIFY DOW’S 172 POINT RISE ON FRIDAY THAT COULD HAVE GIVEN A RESOUNDING OPENING TO THE NEW WEEK FOR ASIAN MARKETS. EVEN HIGHLY OPERATOR INFECTED SGX MAY TURN FLAT TO MILD TO GENERATE A NEGATIVE TO FLATTER OPENING FOR INDIAN MARKETS SO THAT THE OPERATORS CAN ACCUMULATE THE DECLINES.
IN CASE OF A NOT SO BULLISH OR NOT A BIG GAP UP OPENING, NIFTY FUTURE MAY FIND INITIAL RESISTANCE AROUND 5640 TO 5646 SUSTAINING ABOVE WHICH IT CAN MOVE UP TO NEXT HURDLE AROUND 5650 O 5666. ONLY SUSTAINING ABOVE 5656 TO 5666 WILL CATAPULT NIFTY FUTURE TOWARDS 5680 TO 5682. HOWEVER WITH A BIGGER GAP UP TOWARDS 5650 THEN ONE FIND INITIAL RESISTANCE AROUND 5660 FOLLOWED BY 5670 AND SOME SHORT COVERING MAY TAKE IT UP TILL 5683 TO 5690 FUTURE LEVELS. SIMILARLY ON THE LOWER SIDE, FRIDAY’S CLOSING AROUND 5630 LOOKS TO BE THE IMMEDIATE SUPPORT FOLLOWED BY 5620 AND THEN 5606 TO BRING BACK THE BULLS FOR BUYING INTEREST FROM EVERY LOW FROM HERE TOWARDS 5597 TO 5590.
HIGH OF 5665. SO A DECISIVE BREACH & SUSTAINING ABOVE THIS CRITICAL FUTURE LEVEL OF 5665 TO 5670 WILL GENERATE CARGO SIZE SHORT COVERINGS TO PROPEL NIFTY FUTURE TOWARDS MUCH HIGHER LEVELS. SIMILARLY ON THE LOWER SIDE, ON ANY DAY DURING THE COMING TRUNCATED EXPIRY WEEK, SHOULD THE BULLS ALLOW NIFTY FUTURE SLIP BELOW THE CRITICAL LOWS OF 5596 TO 5597 FUTURE LEVELS, WHICH WERE THE LOWS OF 21ST & 23RD NOV, THEN BULLS SHOULD QUICKLY CONVERT THEMSELVES AS BEARS TO INITIALLY SEE 5550 FOLLOWED BY 5500 OR LOWER LEVELS.
SO, FOR THE COMING WEEK GO LONG SHOULD NIFTY FUTURE BREACH AND MORE IMPORTANTLY SUSTAIN ABOVE 5665 TO 5670 ZONE TO SEE HIGHER LEVELS OF 5733 & 5782 TO AIM FOR THE NEAREST SWING HIGH OF 5818 FOLLOWED BY OCTOBER MONTH HIGH OF 5855 FUTURE LEVELS. SIMILARLY GO SHORT BELOW 5595 TO 5590 TO SEE LOWER LEVELS OF 5555 TO 5500 FUTURE LEVELS IN QUICK TIME.
FOR MONDAY 26TH NOV INTRADAY TRADING PURPOSE, NIFTY FUTURES WHICH HAD CLOSED AT 5630 ON FRIDAY, UNDER NORMAL CIRCUMSTANCES SHOULD OPEN WITH A GAPUP ( BUT DO NOT BE SURPRISED TO FIND DOW OPERATORS KEEPING THE DOW FUTURES NEGATIVE ON THE MORNING OF MONDAY TO NULLIFY DOW’S 172 POINT RISE ON FRIDAY THAT COULD HAVE GIVEN A RESOUNDING OPENING TO THE NEW WEEK FOR ASIAN MARKETS. EVEN HIGHLY OPERATOR INFECTED SGX MAY TURN FLAT TO MILD TO GENERATE A NEGATIVE TO FLATTER OPENING FOR INDIAN MARKETS SO THAT THE OPERATORS CAN ACCUMULATE THE DECLINES.
IN CASE OF A NOT SO BULLISH OR NOT A BIG GAP UP OPENING, NIFTY FUTURE MAY FIND INITIAL RESISTANCE AROUND 5640 TO 5646 SUSTAINING ABOVE WHICH IT CAN MOVE UP TO NEXT HURDLE AROUND 5650 O 5666. ONLY SUSTAINING ABOVE 5656 TO 5666 WILL CATAPULT NIFTY FUTURE TOWARDS 5680 TO 5682. HOWEVER WITH A BIGGER GAP UP TOWARDS 5650 THEN ONE FIND INITIAL RESISTANCE AROUND 5660 FOLLOWED BY 5670 AND SOME SHORT COVERING MAY TAKE IT UP TILL 5683 TO 5690 FUTURE LEVELS. SIMILARLY ON THE LOWER SIDE, FRIDAY’S CLOSING AROUND 5630 LOOKS TO BE THE IMMEDIATE SUPPORT FOLLOWED BY 5620 AND THEN 5606 TO BRING BACK THE BULLS FOR BUYING INTEREST FROM EVERY LOW FROM HERE TOWARDS 5597 TO 5590.
No comments:
Post a Comment