Nifty June Expiry Views

By | June 29, 2011

Nifty Hourly Chart

Greek Parliament passes key austerity package is the latest headlines(Buy on Rumors and Sell on News will this again show it effect)

Nifty is rising from past 5 days 🙂 Last time in remember Nifty rose from 9 days in a Row

Expiry Jitters tomorrow and volatile session is on its way.

Lets looks at Nifty Hourly chart

Straight line rise in Index. Moving in a vertical Channel as shown in above chart and never go against the market by shorting a strong market.

Negative divergence are observed in All Indicators but do not short till price goes down below 5575.

 

Nifty Daily Chart

Nifty Daily Chart

We are near the crucial resistance of 5610 and today’s high is 5608. A formation of triple top is visible. This level has kept market under stress from past 3 months.

 

If we the fibo retracement from high of 6344 and low of 5180 5625 is 38.2% retracement which should be next level of resistance.

 

 

Nifty Open Interest

As per Nifty OI 5700 CE is wall of resistance and 5500 PE is level of support.

Nifty Expiry Range on Upper side :5657.50

Nifty Expiry Range on Lower side :5543.40

The above are expected Nifty expiry Levels as per my calculation and Please do not take them as a Trade Recommendation.

 

Levels for tommrow

Buy above 5609 Tgt 5625,5657

Sell below 5575 TGt 5566,5549 and 5532

Levels mentioned are SPOT Levels.

4 thoughts on “Nifty June Expiry Views

  1. Bramesh Post author

    Hi Sujatha Madam,

    VGM 😀

    When in Doubt we should avoid trading 😛

    But we always trade when we are in doubt (Human Nature :P)

    Rgds,
    Bramesh

  2. Sujatha

    Hi bramesh

    GM 🙂

    Not only market is in stress @ 5610 🙄 including the market players especially retailers (me the first one)

    Good advise – not to short the strong market.. but no guts to trade long also..waitingggggggg

    regds

  3. Bramesh Post author

    Dear Sir,

    Same chart different views 😀 I like double tops and triple tops so my inclination goes twrds it and you must be good in triangles so u will see tht first.

    Rgds,
    Bramesh

  4. Shaikh Md Jamil

    Dear Bramesh as you said formation of triple top, I think its a clear cut case of descending broadening formation my dear.
    Correct me if I am wrong.

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