Nifty futures
*Educational purpose only | I am not a SEBI registered professional and I am not trying to give trading calls!
Daily chart of Nifty Future
1. The chart is clearly in a downtrend and the candles are not being able cross the trendline above. Candles touched the resistance, the upper trendline line on the 24th of December but couldn’t break it.
2. A strong support is at 16700 levels and the resistance is seen at 17400+. The candles have not been able to break the resistance after 14th December and the down trend has continued.
3. 17150 and 16930 is a strong sell zone so long positions can only be built once the candles cross and sustain above 17150.
4. MACD signals show a sideways trend, but RSI has above the 50 zone.
*it is better not to trade unless we can identify a solid trend.
Daily chart of Nifty Future
1. The chart is clearly in a downtrend and the candles are not being able cross the trendline above. Candles touched the resistance, the upper trendline line on the 24th of December but couldn’t break it.
2. A strong support is at 16700 levels and the resistance is seen at 17400+. The candles have not been able to break the resistance after 14th December and the down trend has continued.
3. 17150 and 16930 is a strong sell zone so long positions can only be built once the candles cross and sustain above 17150.
4. MACD signals show a sideways trend, but RSI has above the 50 zone.
*it is better not to trade unless we can identify a solid trend.
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