NIFTY TRADING STRATEGY INTRADAY AS ON 6 DEC 2018

PREVIOUS SESSION (5 DECEMBER 2018)

In previous session we predicted that the market will open in gap down and exactly same happened. Market opened almost 49 points down at 10820.45. As we mentioned that if market opens or trades below 10868, then market tends to slide down and exactly same happened... Market opened at 10820 and slide down to hit 10798 level .  Market was range bound for two hours and was in 10798-10781 level. After that market went straight to 10774 level. Nifty unfolded strongly at that level to hit an intraday low of 10748.05. From 10748 level Nifty again bounced back and almost closed a tad above our level of 10781 at 10782.9. Technical analysis shows a bearish trend of the market and a gap down opening is highly possible tomorrow.


NIFTY TOMORROW ( 6 DECEMBER 2018)

Nifty if opens or trades above 10793 then it will go to 10802/10825/10838/10846/ 10856 levels. A crossover above 10856 and if Nifty sustains above 10856 for at least 10 minutes with volumes then Nifty will rally to the crucial level of 10882. We will update the rest during trading hours once all the levels are achieved.

 Now what if Nifty opens or starts trading below 10774 levels then??? 10774 level is a crucial level of Nifty and Nifty must sustain for minimum 10 to 15 minutes and with volumes. Then market will slide down to hit today's low of 10748. Crossover below this level can lead Nifty to slide down to a much lower level of 10730/10702. If Nifty breaks 10702 level then it is likely to hit 10675 level. 10675 is a very crucial level... and may need time to unwind strongly. If Nifty breaks that level too Nifty would be heading towards 10595/10583 levels. In case of any change of levels we will keep you updated.  We are ready to help and guide you during trading hours and any feedback will be much appreciated. Please trade accordingly.  

Disclaimer: The levels mentioned here are mentioned as per Nifty spot level. This is Nifty 50 trading strategy as per our analytical point of view and is subjected to change due to global market situation, sentiment and fundamental analysis. Investment and trading in index and equity has its own risk. This material is solely for educational purpose and the authors are not responsible for any profit or loss incurred based upon the analysis.

Comments

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