Thursday, November 7, 2013

market sentiment turned bearish after deewali

market sentiment turned bearish after deewali


stoploss for  positional Nifty short  trade modified to 6326 short  advised at 6360..


Immediate support for nifty spot may be at  6171  then 6081 .candle sticks  pattern is showing that panic amongst  bulls is increasing  gradually see length of red candles is increasing .


NIFTY_Daily_06-11-2013


Bank Nifty failed to sustain above 200 dma next target will be  10990 then 10450..


BANKNIFTY_Daily_06-11-2013


 


Flat to negative opening is expected ….market is trading in bearish pattern after deewali ….means trading making lower swing highs and lows so do not trade opposite till waves are forming like this ..6200 is bottom of uptrending  channel at hourly chart to break that huge volume sell will be required so expect some range bound trades at 6200 level in Nifty futures …


6200


Trade in Nifty futures as per these levels


Buy at / above: 6282   Targets: 6297 – 6317 – 6336 – 6356
Stoploss : 6256
Sell at / below: 6256   Targets: 6241 – 6223 – 6201 – 6182- 6156
Stoploss : 6282


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Trade as per trend and as per your trader


Be ready to book losses as  you are booking gains .


This basic chart is showing that rising wedge  spotted in nifty futures and  possible near term supports  as per trend line drawings will be at 6166  5973  and 5877  …


nf




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market sentiment turned bearish after deewali

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