As of now parameters are in favour of positive in compared to previous week. Remain cautious stance at higher as positive parameters stood at 12 since 2 weeks. Follow levels given below and compare with my daily levels. On 28th December levels valid for January future
Above was my previous weekly technical view regarding Nifty future. It opened flat @ 10506.05 went to 10537.85/10566/10568.90. Cautious at higher levels works out everyday down to 10496.60/10476.30/10505/10469. Interesting to see neither break tolerance band 0.146% of bulls pivot 10556 or of bears pivot 10454. Due to positive factor got buying support at lower and due to cautious at higher selling got at higher resistance area. Finally closed on the bulls pivot point @ 10556.90. Well rewarded by disciplined level followers if judge wisely. Daily levels works as usual and get rewarded. Weekly view successful without missing single word.
Nifty Future Weekly View Commencing 1st January 2018.
It closed day/week/settlement/month/year wise highest closing in lifetime with higher than 13 day average open interest and lower than 13 day average volume @ 10556.90.
Positive Factors : 9
Negative Factors : 6
Conclusion:-
As of now parameters are in favour of symbolic weakness in compared to previous week. It was consolidation and range bound phase before moving either sides through weekly range breakout. Follow levels given below and compare with my daily levels.
Weekly Pivots:
Bulls : Sustain above 10572
Bears : Sustain below 10542
Resistances : 10607/10620
Supports : 10507/10494
Disclaimer: Nothing sure in the market. Trade with stop loss. Above are my personal views, may or may not be achievable. Consult with your personal trading adviser before act