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TraderMeal.com is a place for traders in Indian Stock market to keep them updated with the market dynamics, Daily Nifty Analysis and trading strategies

22/02/2018

Learn proven trading techniques of successful traders. A brief overview of Technical Analysis tools. Application of Technical Indicators to real time trading An overview of trading psychology.

Nifty on Friday touched a low of 9449 and bounced and closed at 9520. Currently it is at the resistance 9525. Going Abov...
03/07/2017

Nifty on Friday touched a low of 9449 and bounced and closed at 9520. Currently it is at the resistance 9525. Going Above 9525, bulls can drive Nifty higher. Next Resistance at 9580. If Nifty doesn't go above 9525, it may fall below previous low of 9449. FNO data suggests that FIIs are bearish and DII are bullish. In cash segment, DII has bought Rs.1195 crore of stocks, much higher than sell figure of FII ie, Rs.160 crore. So, DIIs could have upper hand.
Globally, markets have stopped falling and entered into a sluggish move in a trading range.

Trade Setup: Wait for 15 min of trade. Judge if market goes above 9525, We would enter straddle by selling Put options. We are already short in the market by Selling 9600 CE. The same would be hedged by selling Put 9400. Once market decides clear direction, the loosing side of the straddle would be taken out.

Nifty Analysis 29-Jun-17The predicted resistance level of 9568 was respected by Nifty. The upmove got truncated near 957...
30/06/2017

Nifty Analysis 29-Jun-17
The predicted resistance level of 9568 was respected by Nifty. The upmove got truncated near 9575 and fell. This completed 4th leg of Elliot Wave, Now the 5th and final leg of this bigger down move, which started from 9698, is under progress. The Harmonic BAT pattern is being played out to its perfection. The estimated end point of the down move is 9385. Important support thereafter is at 9284 which is 23.6% of retracement of previous upmove from 7893.

Globally, Markets have fallen 1.5% to 2%. This is suggesting we would have gap down. Currently SGX Nifty of new series has not opened yet and hence, no indication from that side.

Trade Setup for 30-Jun-2017: Those who already hold short can continue to hold. Fresh position on long side can be initiated once this pattern completes.

Nifty Analysis 28-Jun-2017Nifty consolidated in narrow range making inside day on daily candle stick. Harmonic Bat Patte...
29/06/2017

Nifty Analysis 28-Jun-2017
Nifty consolidated in narrow range making inside day on daily candle stick. Harmonic Bat Pattern, refer Chart, is still valid, the 4th leg of Elliot wave is still going on. Today ,ie, 29-Jun-2017, The idea would still remain sell on rally till we breach 9700.
Globally, US bounced and registered gain of more than 1, while Asia has opened gap up but the gap up is not being followed through. The up move is expected to face resistance at 9568.

Nifty Analysis 27-Jun-17Nifty is forming Harmonic Bat Pattern, the completion at point D is expected at 9384. Further 23...
28/06/2017

Nifty Analysis 27-Jun-17
Nifty is forming Harmonic Bat Pattern, the completion at point D is expected at 9384. Further 23.6% retracement of the move from lows of 26-Dec-16 is at 9282. So the pattern will complete between 9384 – 9282. Third leg of Elliot wave completed at 9472. Leg 1 and 3 are of 135 points approx and leg 4 is going on. So final leg 5 is remaining which would complete the Bat Pattern near 9384.

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