As of now technical parameters are in favour of negative with imbalanced of one tick compared to previous week. Follow levels given below and compare with my daily levels
Above was my previous weekly technical view regarding Nifty Future. It opened gap down below bear’s pivot 17559 followed by daily levels @ 17550 did high 17602.95 down > 17368 > settlement bear’s pivot 17222 > 17073 > weekly support 17042 > 16851.15 ( rewarded 756 points ). There was imbalanced of one tick while nearest settlement support was 16819. Holding the support and on upside weekly support 17042 went to be resistance, sustain above > settlement bear’s pivot 17073 > 17316 > 17368 > 17395 ( rewarded 353 points ). Back to weakness below weekly bear’s pivot 17368 > 17095 ( 273 points ). Finally closed @ 16125.65. Weekly view successful without missing single word , if judge wisely followed by levels. Daily levels works as usual and get highly rewarded.
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Nifty Future Weekly View Commencing 31st January 2022
It closed day/week wise negative with higher than than 13 day’s average open interest and volume @ 17125.65..
Positive Factors : 4 (-4)
Negative Factors : 14 (+5)
Conclusion:-
As of now technical parameters are in favour of negative with imbalanced of one tick compared to previous week. If even come down bounce back can’t be ruled out around middle/lower support areas. We can’t control the market volatility. We should control what have in our hands. Follow levels given below and compare with my daily levels.
Weekly Pivots :-
Bulls : Sustain above 17340
Bears : Sustain below 16912
Resistances : 17571/18033
Supports : 16681/16219
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.