Niftyindia
Nifty 50 Intraday & Expiry Day Trade Setup for 07 December 2020Good Morning everyone,
Index trend is bullish in all time frames and there is not a single sign for weakness but the main problem is the momentum it's very messy and hard to trust on the buy-side and as well as on the sell-side. Intraday is very tricky at this momentum because on the upside there is a lot of supply zone and correction is due since October month so be careful at this point. Our short-term swing target is 13,523 and it has been achieved in yesterday's trading session.
Today is the weekly expiry and it comes on harmonic PRZ in weekly and hourly both of time frame so there is a lot of Possibilities to see a narrow range market depend on the levels.
Index Range is 13440 to 13550.
Trade setup :
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Future and options traders keep an eye on both levels and set up your trade on breakouts.
Safe Traders can sell 13600 CE and 13400 PE.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 9 December Nifty Update
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Yesterday's Range is so Important for today's intraday because This range has come on harmonic PRZ in the Hourly chart.
13300 to 13450 this range is Important and can decide the momentum in Intraday. Index behavior is strange and direction is missing. Sell comes from higher levels and buy come from the support.... in short momentum is in both of side. Not good for beginners so I advised trade with caution and always book profit asap and do not sit in any position.
Today strategy is buy-in dip and sells on top with tight SL
Nifty - Rally for Reverse Head and Shoulders ToppedReverse head and shoulders pattern had depth of 1129 points to the head from base. This meant push of 1129 points from base to further up which comes up to 13297.
Nifty seems to have topped at that level and coincidentally that the level of resistance line Nifty has been following since Covid times.
Any closing below 13297 shall open Nifty up for fall to 12400 levels by Dec end.