Wednesday, 4 April 2018

Nifty Future 04042018

At start of this week, I posted a short term analysis of Nifty on Twitter with this chart.  You can check the tweet here,  https://twitter.com/charttechnical/status/980039016421638150


Nifty was trading in a downward trending channel in hourly chart, so expected an area around channel extremes to work as a support and resistance.

Today, it opened just above upper channel extreme in an attempt to break it, but failed as you can see on this chart,


With this above information of failure to break higher timeframe level, one could have traded Nifty with the help of price action and Decision Points. Let's see how on our 3-min timeframe chart of Nifty spot.


Usual trade setup per DP trading system on Nifty future chart which allowed to short very close to high,



5 comments:

  1. Nice URD Ji.

    I could able to capture the downfall.. but not at top.
    http://onlyniftyy.blogspot.in/2018/04/nifty-04-apr-2018-85.html

    ReplyDelete