Jun22-W2: Nifty to squeeze? (Jun7 to Jun11)

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What I said last week was that Nifty’s rise can continue till 16650 but I did not know what would happen next. Now the following is my analysis for the coming week:

It may seem like Nifty is going green but looking at chart from April 4th, all that Nifty has managed to do is to create a lower high. With stochastic being in overbought territory, the indicators are that Nifty should not rise further. There is a support being provided at 16400. I expect Nifty to oscillate around that level this week.

Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 16800 and 16375
Downtrend - If breach below 16375; to drop somewhere till 16075
Uptrend - If breach above 16800; to rise somewhere till 17075

If someone wants to learn how to become hero from zero, just take inspiration from Crude Oil

DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.

交易手动结束
The week was smooth. I simply did what my system told me to do. I also added some common sense here and there. Furthermore, I was able to capitalize on some intra-day mean reversion opportunities. All these led to a good profit. Grateful to God, Nifty and the system

Net Profit (after deducting brokerage): 39611.63
Capital deployed (approx): 20,93,014
Week’s ROI: 1.89%
Total no. of weeks traded till today: 9
Average weekly return till today: 2.00%

DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Chart PatternsindiaTechnical Indicatorsnfty50NIFTYTrend Analysis

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