HomeLatest PostsNifty analysis – 10 May | Nifty intraday analysis

Nifty analysis – 10 May | Nifty intraday analysis

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Nifty analysis – 10 May:

Careful with your longs. Any fresh long should be taken after the breakout.

Nifty analysis – 10 May | Update (12:15 pm):

Possible trade scenario in Nifty. If there isn’t any pullback, I won’t trade. Already made a loss of 0.3% today.

Nifty analysis – 10 May

Update (02:43 pm):

Loss almost mitigated. Took a pair trade in BNF and NF. (Longed BNF, Shorted NF) So, ending the day with a small loss, which is pretty reasonable.

Update (02:48 pm):

Played out well. Now it is another resistance and the momentum seems to be fading. Let’s see!

Update (02:50 pm):

Gave a deep pullback and went sideways, which indicates a lack of buyers.

Nifty analysis – 10 May

Update (03:07 pm):

As I said, the momentum was fading and it was at resistance. All the late longs have been liquidated.

Nifty analysis – 10 May | Update (03:10 pm):

Lack of buyers + responsive sellers. Majority of intraday longs have been liquidated. Front ran 17200 by just 10 points.

Nifty analysis – 10 May | Update (03:29 pm):

Loss mitigated. Taking this hedged short overnight. Will update in the morning.

Update (03:35 pm):

Our objective of 16200 has been reached. The index faced a heavy sell-off in the last hour, which set the narrative to bearish for tomorrow. Hence, I am carrying my shorts.

Also note that the price is exactly at the same level as it was 4 days ago, thereby negating all the LTF up move. Most probably, the price is now aligned with the HTF bias and hence we can expect the market to go towards 16k tomorrow.

Nevertheless, I can always be wrong. In that case, I’ll be quick to cut my losses at 1%.

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Rajat Kumar Singhhttps://tradingwick.in
Hi, my name is Rajat and I have an immense love for charts. I hold a Bachelor’s in Engineering in IT and am currently working as the community manager (India) for TradingView. Join me in my journey to become a better trader! ❤️

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