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Nifty P&F setup - 30th Dec 2016
  • : December 29, 2016
  • : Definedge Research

Last closig price : 8103.60

  • Nifty dly 10 x 3 P&F chart Pattern: Low Pole  - Bullish
  • Nifty Trend (10 SMA): Price Below average - Bearish
  • Nifty setup: Neutral 
  • Nifty 50 1% x 3 Breadth: 52 - Neutral
  • Bearish  level : 7900 (Double Bottom Sell)
  • Bullish Level:  8130 (Low Pole Above SMA) 
Recommended strategy for the day: Setup is neutral hence look for trades in direction of individual trend, and refer breakout levels.
P&F setups to refer in individual charts: Formations along with trend filtration. (Example, 
basic bullish signal above moving average)

Outperforming sectors (based on RS charts):  FMCG
Underperforming sectors 
(based on RS charts):  PSU bank,  Fin service, Commodities, Bank Nifty, Pvt bank.