NIFTY TRADE SETUP FOR THE DAY

14 set 2020

INDEX SUMMARY
-GOING BY THE INTRADAY SETUP NIFTY INDEX IS SIDEWAYS
-ON DAILY CHRT INDEX HAD PREVIOUSLY CREATED A MORNING STAR PATTERN
-IT IS A BULLISH PATTERN
-WHICH WAS FOLLOWED BY A DOJI ON FRIDAY WHICH INDICATES INDECISIVENESS
-GOING BY THE NEWS BY SEBI I EXPECT SOME VOLATILTIY
-BECAUSE I BELIEVE IT WILL CREATE NOISE IN THE MARKET
-MARKETS WILL REACT TO IT
-NOW SOME LEVELS I WANT TO WATCH IS THE BREACH OF PREVIOUS DAY LOW
-INDEX NOW FOR TWO DAYS IS SUSTAINING ABOVE ITS 20-EMA
-NOW FOLLOWING THE ACTION IN THE US MARKET I EXPECT SOME NEGATIVE ACTION
-WHICH MAY CHANGE TOMORROW MORNING ALSO BUT LOOKING AT THE CHART IT SEEMS
-IT IS IMPORTANT THAT NIFTY DEFEND 11325
-IF FAILS THEN WE CAN AGAIN EXPECT A ATTMEPT TO CRACK 11230-11180
-ON THE OTHERSIDE IF NIFTY HOLDS ONTO ITS 20-EMA WE WILL AGAIN TRY TO RETEST 11555
-EXPECT LARGE TO FACE SOME VOLATILITY TOMORROW
-WAIT AND WATCH FOR PRICE ACTION ON THE INDEX


NIFTY RESISTANCE FOR THE DAY
11486-11525-11555 (FUT)
NIFTY SUPPORT FOR THE DAY
11370-11325-11270 (FUT)


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!HAPPY TRADING!!

SCREENSHOT

14 set 2020

Trade chiuso: obiettivo raggiunto

I EXPECT NIFTY TO FIND RESISTANCE AROUND 11585
FOR FURTHER RALLY BANKNIFTY MUST PROVIDE SUPPORT BY CROSSING ABOVE 22766
LEVELS ARE IN FUTURES