Nifty 50 Analysis for next week i.e (27th June to 1st July)

 First talk about the global markets this week all the global markets closed positively. Still there is no sign of bulls in the market people might be wondering is it right to take long position in market but wait market is still bearish. As a price action traders we foucs on price moment and if observe the price movement it is still making lower lows and lower high patter. It is quite important to understand how would market turn around. Let take the 2015 bear market where market took correction of 24% at the end correction if formed reversal pattern and made the new bull move.

    This is how market turn around if you see current market pattern there is no sign of bullishness. So lets analyse the current market situation and take the necessary actions. Lets get clear about one question when market would turn bullish when it crosses 16800 level then market would turn bullish.

    Currently market is taking retracement one of the most used tool used by people to see until where market would retrace is fibonacci and if apply fibonacci on recent swing we would se that there is a possibility market would take retracement till 16183 level. This is just a probability and it might work or might not.

    

        Until now we observed the market in long term persepective but as a intraday trade we have to see two trends one is major trend and minor trend. The major trend of the market is still bearish but if you observe minor trend it is bullish. As a intraday trader I would be looking for long positions in the markets. On the final not we would looking at important levels for intraday.

        Above are some major levels to be watched out as a intraday trader as this is a minor trend it can turn around anytime and make sure you trade half of the quanitity which taking long position in this market situation. 

Key Points:

1. Market has formed inside candle in weekly time frame.
2. As per finnaci retracement market can take retacement up 16180 level it go beyond it as well this just a probability.
3. Next market would only turn around bullish once it break 16800 level.
4. The major trend of the market is bearish (as per daily time frame) and minor trend is bullish (as per hourly time frame). As intraday trader you should focus on capturing minor move with less position sizing.
5. Last and fianl thing the important intraday levels for market is 16400, 16170, 15850, 15700, 15375, 15200 (as per hour time frame)