Nifty outlook 10 Dec 2023
Closing Range - 19283/19505. Extended range 1 - 19202/19587, Extended range 2 - 19104/19685
Nifty formed a long red bar in the last session with decent volumes. Close above the channel in the last 2 days would have been more convincing if body of the candles were bigger. 100 DMA is providing resistane to Nifty as expected and 20 DMA is providing support. Nifty should break one of these in next couple of trading sessions. Since Nifty has negated the bullish candlestick patterns formed in the last 2-3 days, there is not clear sense on the direction of Nifty. Maybe the weekly candle post next trading session will leave some cues for the coming week.
Possible trade: Intraday trades may not give meaningful returns. Best is to stay away from trading till there is directional clarity on Nifty.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
Nifty formed a long red bar in the last session with decent volumes. Close above the channel in the last 2 days would have been more convincing if body of the candles were bigger. 100 DMA is providing resistane to Nifty as expected and 20 DMA is providing support. Nifty should break one of these in next couple of trading sessions. Since Nifty has negated the bullish candlestick patterns formed in the last 2-3 days, there is not clear sense on the direction of Nifty. Maybe the weekly candle post next trading session will leave some cues for the coming week.
Possible trade: Intraday trades may not give meaningful returns. Best is to stay away from trading till there is directional clarity on Nifty.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.