Nifty trend for April 2017 is non directional and is in range bound trading zone. There is a momentum of selling in the market due to to global uncertainties and expectations of poor Quarterly results.

GLOBAL TRENDS TO WATCH OUT

  1. Tension between US and North Korea
  2. Domestic Quarterly results likely to remain tepid
  3. Keep a watch on the IT sector. 

TECHNICAL ANALYSIS FOR NIFTY TREND

Daily Chart: (Fibonacci Extension) – Nifty Trend

Nifty Trend
Nifty Support / Resistance – Nifty TrendLevels
Support 19197
Support 29150
Support 39074
Resistance 19242
Resistance 29302
Resistance 39399

Bollinger Bands (30 Day Interval, SD 2) – Nifty Trend

Nifty Trend-April 2017-BB

India VIX: (Nifty Trend)

India VIX -April
  1. As per Support Resistance levels, Nifty has already broken S1 and currently holding on to S2 levels. If these breaks down, we may see Nifty heading lower towards 9074 levels it any recovery takes place
  2. On the upside 9300-9350 levels is a very strong resistance and Nifty very likely to remain between 9150-9350 levels till April expiry
  3. Check out the Nifty trend for last 2 daily candlesticks formed. On 13 April, Nifty broke both previous day’s low and closing indicating more negativity in the next couple of trading days
  4. Keep a check on Bollinger band levels. If Nifty breaches 9092 level, a little more downside very likely.
  5. Watch out for the VIX (Volatility Index) levels. As per chart, VIX levels are steady at lower levels indicating continuation of current downtrend

PERSONAL VIEW

My overall view for April Nifty trend is Non-directional, slightly negative biased to neutral and Nifty likely to range bound trade between 9150-9350 levels till expiry.

If you are trading with Nifty futures, Short sell with a target of 9100 levels with a Stop loss of 9235 levels. Enter short levels at 9190 levels.

If trading with Nifty options

  • Write Nifty 9350ce and 9150pe
  • Write Nifty 9400ce and 9200pe

Limited risk, limited gain strategy if Nifty remains between 9150 – 9350 before expiry.

Implied volatility is low and current downtrend or range bound trading probability is high.

DISCLAIMER

Please do not trade the Nifty trend only on the basis my personal views here. Make sure you do your own research and please use proper risk management. If you want more personalized views, mail me at niftygreeks@gmail.com 

Please share your views on Nifty trend for April 2017 in the comments below!

M KithanFEATUREDNIFTY TRENDNifty Analysis,Nifty TrendNifty trend for April 2017 is non directional and is in range bound trading zone. There is a momentum of selling in the market due to to global uncertainties and expectations of poor Quarterly results.GLOBAL TRENDS TO WATCH OUTTension between US and North Korea Domestic Quarterly results likely...Simplifying Trading