Sgxnifty50futures
Dow Jones daily bearish pattern Dow Jones on a daily timeframe making a bearish pattern called double top aka known as M pattern
The two tops on charts marked with rectangle box
This +500 can be short covering
Wait for Dow Jones to break its double top
If it breaks we may see some good upmove in Indian stock market too
Its bearish pattern can affect the Indian stock market little bit If it's successfully breaks it's top we may see good major upmove
Nifty Moves into a rangebound movement in a 15 min tfFor a upward momentum in nifty it has ton breakout above 16692 levels and give breakout for a rectangle pattern it has created on a 15 min chart. It looks like a result heavy Monday so we would expecting some downside in the index on Monday.
Disclaimer:- This idea is created for educational purposes. Do not invest on this idea, Do your own research or consult your financial advisor before taking leveraged bets in the market.
Range Bound View On SGX NIFTY SGX NIFTY is Consolidating From Today's Opening SGX NIFTY Needs To Break Previous Day Closing High @16230 If SGX NIFTY Breaks @16230 Then SGX NIFTY Turn Bullish Trend If SGX NIFTY Breaks Today's Low @16168 Then SGX NIFTY Will Turn Bearish Trend
• On Thursday Night SGX NIFTY Hit A Low Of @15800
• On Friday SGX NIFTY Closed At @16200
• That's A 400 Points Move in a Matter Of 24Hrs
If SGX NIFTY Breaks @16000 Then SGX NIFTY Fall Upto @15800.
SGX NIFTY First Support At @16000 Second Support At @15967....!
Resistance SGX NIFTY Needs to Break@16230 Then It Will Raise Upto @16400-16600
In This Volatility Market And Bearish Market You Need To Do Short Sell Only.....!
Disclaimer :-
Please Keep Your Positions Little Because Volatility Is Very High So Please Avoid Trades in This Volatility Market. Hope You Understand My Opinion. This is for educational purpose only. If You Are Taking Any Position Consult Your Financial Advisor. Thank You
Price action strategy-SHORT SGX NIFTYA simple price action strategy explained for SGX NIFTY
Same can be applied to indian NIFTY too.
Explanations; Origine of engulfing (peak) formed at 18621
First drop from peak completed with climax (5waves) indicating SHORT TERM REVERSAL .
Now ,recovery to resistance Level (minor SR) is nearing to complete at 18123.
What next? Selling will resume and drop in price till it reaches the base, in Drop ,Base,Drop (3waves) form as i mentioned.
please note that this is my view based on PURE PRICE ACTION theory
SGX NIFTY CORRECTIONSGX NIFTY which is traded based on our indian NIFTY, will give you an ADVANCED movements before our market opens.
This will give traders an edge to take or quit positions ,sometimes loss of sleep also!
Elliot waves should be drawn as per cash markets(as per Glen neely) But there is nothing wrong since this future is the mainly traded by matured participants unlike our retailers.
Having said we can follow our nifty using SGXNIFTY(IND50)Charts.
Bears won today by bringing nifty to 458 points from its peak(17809), wait for 2 days to allow the injured Bull to recover and again BEARS will demonstrate full power after wednesday(22/09).