@ cooldent ,11358.
there is a convergence near 5394-5398.
below convergence into support area!
6270 is the lower trendline for the channel
Advice I am readding all articles regarding new beginer & decided trade with JNSAR . I want to use DAYILY JNSAR. If clossing value above/low JNSAR then go long/short. If this strategy is wrong then correct me please.
21 Hr SMA and 34 Hr SMA are close to each other. Bulls should close above it. They will be in comfortable zone above it.
80 % of rise from 6259 to 6344 retraced.NS below HrLEMA. @ 6294
@marina and below 34sma, but still is support zone as per TA, unless EW label take it to 6210
NS day low @ 6273.15.
6200 and 6300 PE writers are quite confident.
Is Day trend in work ?
BankNifty together with several banks is doing bearish reversal pattern. Nifty also, if closes below 6289.4.
61.8% of fall from 6300 till 6273 retraced till 6290 but not crossed...Staying below it, weak? 50% at 6287 and 80% at 6295...(Small range, just trying to appreciate Fibo levels)
NS is trading below 6300 but 6300CE is trading Rs. 30 higher than 6300PE. I have a feeling that people who are long are in some sort of self-denial that the market will not fall steeply.
@Raman,diff in pricing of 6300 PE and CE is because the options are priced on future contracts. NF is around 6035-6040 levels and hence CE is priced higher than PE. NF at 6300 will result in more or less same price for 6300 PE and CE
Nifty trying to close above 6290 - tomorrows lower trendline for alt. channel connecting 6130-6150-6170 lows ?
6299 Tomoro's Dev. Pivot
EOD close prolly > 5DEMA... may be 6344-6274 fall was to retrace, 6151-6344.. will know tomo , bulls need to capture 6316 ASAP for thatBye All !
@Master,5Day lead indicator in OB and also EW confirm wave-B also hourly in -Div , can we sell in daily OB zone??
@AlyThanks for clarifying. I always thought that NS is the underlying for nifty options and future is completely different entity to options
Dear All,Closing below 6292.8, will print a Bearish Engulfing candle pattern for the day.Raghavendra
@Raman,NS is the underlying for the options. On expiry date, options will be settled based on NS only. Its only that the market participants base their trades on NF as it is the indicator for possible market movements
Good observation Raghavendra thanks..
@Raghavendra,Thanks for this ..though margin is very small..Lets see if closing <DHEMA (today and yesterday), generating new signal is followed up tomorrow with bearish engulfing?