NIFTY FUTURES
Nifty futures witnessed on of the sharp fall for year 2015 its mainly because of block deals and foreigners sold the contracts from last couple of days. Overseas investors too sell with a combined $475 million of local shares.
As per candlestick studies nifty futures has shown long bearish candle this indicates bears will be favored in coming days and further fall can be seen.
Nifty futures also trading below its important support zone i.e 200 days moving average this indicates as long as nifty trades below 200 DMA bears will be favored. Suggested article - nifty futures trading guide.
Even nifty major technical trend indicator "MACD" is moving in a negative zone this too indicates bears will be favored.
On down side Nifty will find strong tend line support at its previous bottom, if nifty takes this support then we can see some bounce back but if it closes and holds below its previous bottom then further price fall can be seen in next few days.
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