Nifty Futures Intraday Trades

- Nifty opened @ high and stayed below Open, High for around an hour.

- ORB broke, made new low and bounce retraced 80% of the range.

- 1st short trade gave 40 points.

- Nifty found support @ Pivot (7804).

- 2nd long trade gave 65 points.

 

Nifty EW Analysis

Today Nifty's candle formed a PKPR (Perfect Key Positive Reversal), also it’s above Friday's Swing High. Seems there are high chances of reversal from todays low. On Daily chart Nifty EW suggesting B has done @ 7714 and now C is unfolding, which may complete around 8500+ level if my analysis is right.

Let’s see how it unfolds...

As LT is in downtrend, always have a SL/TSL for all positions to protect Capital and Profit.

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