After the flop show before expiry, here is something that bulls can look forward to:
This has happened in the past, and 'might' happen again.
On 30th January (expiry day), Nifty spot made a low of 6027.25, and Nifty futures made a low of 6025.1. This was Nifty January futures.
Nifty SPOT chart:
On the same day, Nifty February futures made a low of 6062.35.
Nifty futures chart:
This was mainly due to the premium on February futures. It has happened a few times in the past, that once the next month becomes current month futures, it visits the previous low again.
Nifty futures made a low of 6034 today, whereas Nifty spot went much below the low of 30th January (5994.95 low today).
A lot of people might be waiting to see what happens at the 200 day moving average, which is just a bit below today's low and also the double bottom near 5975 (spot).
It is possible that Nifty futures might just test 6025 and bounce from there, thus keeping the '200-dma-bulls' waiting.
If at all Nifty does give a bounce from Nifty futures 6025, the bounce retracement levels are 6130-35, or 6170 - 75, or even 6215- 20 on Nifty SPOT.
Watch Nifty futures 6025 closely tomorrow and in coming days !!
This has happened in the past, and 'might' happen again.
On 30th January (expiry day), Nifty spot made a low of 6027.25, and Nifty futures made a low of 6025.1. This was Nifty January futures.
Nifty SPOT chart:
On the same day, Nifty February futures made a low of 6062.35.
Nifty futures chart:
This was mainly due to the premium on February futures. It has happened a few times in the past, that once the next month becomes current month futures, it visits the previous low again.
Nifty futures made a low of 6034 today, whereas Nifty spot went much below the low of 30th January (5994.95 low today).
A lot of people might be waiting to see what happens at the 200 day moving average, which is just a bit below today's low and also the double bottom near 5975 (spot).
It is possible that Nifty futures might just test 6025 and bounce from there, thus keeping the '200-dma-bulls' waiting.
If at all Nifty does give a bounce from Nifty futures 6025, the bounce retracement levels are 6130-35, or 6170 - 75, or even 6215- 20 on Nifty SPOT.
Watch Nifty futures 6025 closely tomorrow and in coming days !!
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