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Niftylong

Nifty Intraday Trade setup for 07 February 2020Hello Everyone , We had seen a bull run yesterday in Bank nifty index but nifty is steady on their resistance . Remember Nifty decide the market trend and momentum . Bank nifty most of run is trap and setup from manipulators as you can see that Nifty has made a spinning top candle on their resistance area. Yesterday candle high low is very Important for today intraday. Wait for 12160 to build your long and short opportunity can get below 12080 Regards Viru
NSE:NIFTY
by CodeViser
Briefly long on NiftyAs posted in the past couple of updates (links attached), Nifty reversed from the 161% FE after completing an Ending Diagonal pattern at the end of wave 3 (as shown in one of the links attached). Wave 4 target is atleast 11,246 and at most 11,356. This move could be slow and choppy and hence either one can long a future with SL of wave 3 low or just ignore this up move. Nifty can come down but would stay above the Wave 3 low. Hence, it could be difficult trading long calls (as there'll be losses due to theta decay). A better trade would be the impulsive short trade once this move is over for wave 5 once wave 4 is completed. The whole wave count is shown in another post (link attached).
NSE:NIFTYLong
by tushargupta1991
1
NIFTY Bank Index buy opportunities at new weekly demand levelNIFTY Bank Index is comprised of the most liquid and large capitalised Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks. Nifty Bank has been rallying for weeks breaking all time highs at 28400 a few weeks ago. There is a very strong weekly demand imbalance created once those all time highs were broken. This weekly demand level is located around 27211 price area. The imbalance is pretty strong. Long term longs will be possible at this new imbalance is price retraces and market conditions are trend are the same. There are shorter term opportunities created in shorter timeframes, this analysis is done for a single timeframe, the weekly chart. In an uptrend new demand levels are created and respected, supply levels are eliminated in an uptrend. There is no reason to go short in the short/medium term unless you are a scalper and trading the very lower timeframe imbalances.
NSE:BANKNIFTYLong
by AlfonsoMoreno