Nifty 50 futures price seems to take a pause inside the Breakdown Zone before a swinging move. On analysis of the movement of Nifty 50 futures price in different time zone which I constructed in my last analysis on May 18th, 2017 when I concluded a monthly zone from May 19th, 2017 to June 18th ,2017, I find that the Nifty futures price is facing stiff resistance at the current level. Even if it tries to make a little further up move, it may attract some more ‘Dumb Money’ because the ‘Smart Money’ has already been coming out quietly since last few trading sessions whenever a sudden small rally occurs and commoners becomes traders in hope of making quick money (Zone highlighted in 1 Hr. Chart below in attached PDF file).
On analysis of the movement of Nifty 50 futures in the same charts on June 10th, 2017, I find the Nifty 50 futures price seems ready to take a sudden downward move with or without any excuse. My aim is not to create panic among the traders; I will not call them as investors at this crucial time when all the symptoms of an artificial hype are present. One may find a lot of messages on mobile for receiving latest trading tips, such messages never come up when the indexes are touching bottom.
Have a nice trading week.