04OCT2021
Indian Indices Last Session:
🟠 #Nifty took support near 20 DEMA & SuperTrend (10,3), recovered from the day low to close lower by 0.5% at 17532.05.
🟠 #BankNifty opened gap down, but recovered shapely to close above 20 DEMA in a highly volatile session with 0.5% loss.
🔴 FII's were net seller of 600+ crs excluding option figures which could be for hedging. DII were net sellers of 600+ cr.
Global markets (Last Session):
🟢 US markets opened weak but recovered sharply after first half an hour & closed near the highest point of the day.
🟢 European markets had a weak opening but recovered almost 1-1.5% in second half & finally closed lower by 0.05-0.84%.
🟢 US 10YR bond yield fell 1.60% to 1.46. DXY fell to 94.03 mark. Precious metals had some recovery. Signs of cooloff.
Global markets (Morning Cues @07.45 AM):
🔴 Asian markets are trading lower. SGX Nifty trading flat indicating a muted opening in the Indian benchmark indices
🟠 US & Europe futures trading lower by nearly 0.32-0.65%. Crude/DXY/US Bond yield cooling off. Overall cues negative.
News And Additional Data:
🔴 US & European markets have corrected more than 5% from their top in fear of proposed tax rate & interest rate hike.
🟠 Indian markets has complete disconnect with global markets & have outperformed its peers. Can see some profit booking.
🔴 Imported global cues could put some pressure on the bulls. October historically is a good month. Lets see this time.
Nifty 50 Technicals:
🟡 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(58.00), W(73.14), M(78.19) & ADX D(41.67)
🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. Took support near the 20 DEMA 17482.
🔴 #Nifty broken down of the two months rising channel on daily/75M charts. Till #Nifty regains 17801 can see weakness.
🔴 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks.
Intraday Index Futures Levels
🔴 #Nifty Fut 17275/17337/17439/17485-17619/17689/17777/17821. RDX Score- 15M(-1*)/75M(-2*)/1D(2*)/1W(5*) #Bearish
🟠 #BankNifty 36589/36751/37879/37025-37485/37566/37729/37885. RDX Score- 15M(-1*)/75M(-2*)/1D(2*)/1W(5*) #Bearish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis)
Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17475 15 MCB will extend the weakness. Bullish only above 17645 on HCB else avoid.
🟡 In case #Nifty opens near 17619 odd levels then one may take an intraday #Short for a target of 17500/17436 SL=16689.
🔴 #BankNifty below 37275 15MCB can see further selling. it has taken support 3-4 times near 37375. This time can break.
🟡 Remember if a level is tested multiple times then relevance of the level goes. Next attempt most likely breaks it.
🔴 Since 15/75M TF charts have net score less than 1, better to hold the bearish broken wing straddles (-2x CE -1x PE).
🟠 #Nifty took support near 20 DEMA & SuperTrend (10,3), recovered from the day low to close lower by 0.5% at 17532.05.
🟠 #BankNifty opened gap down, but recovered shapely to close above 20 DEMA in a highly volatile session with 0.5% loss.
🔴 FII's were net seller of 600+ crs excluding option figures which could be for hedging. DII were net sellers of 600+ cr.
Global markets (Last Session):
🟢 US markets opened weak but recovered sharply after first half an hour & closed near the highest point of the day.
🟢 European markets had a weak opening but recovered almost 1-1.5% in second half & finally closed lower by 0.05-0.84%.
🟢 US 10YR bond yield fell 1.60% to 1.46. DXY fell to 94.03 mark. Precious metals had some recovery. Signs of cooloff.
Global markets (Morning Cues @07.45 AM):
🔴 Asian markets are trading lower. SGX Nifty trading flat indicating a muted opening in the Indian benchmark indices
🟠 US & Europe futures trading lower by nearly 0.32-0.65%. Crude/DXY/US Bond yield cooling off. Overall cues negative.
News And Additional Data:
🔴 US & European markets have corrected more than 5% from their top in fear of proposed tax rate & interest rate hike.
🟠 Indian markets has complete disconnect with global markets & have outperformed its peers. Can see some profit booking.
🔴 Imported global cues could put some pressure on the bulls. October historically is a good month. Lets see this time.
Nifty 50 Technicals:
🟡 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(58.00), W(73.14), M(78.19) & ADX D(41.67)
🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. Took support near the 20 DEMA 17482.
🔴 #Nifty broken down of the two months rising channel on daily/75M charts. Till #Nifty regains 17801 can see weakness.
🔴 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks.
Intraday Index Futures Levels
🔴 #Nifty Fut 17275/17337/17439/17485-17619/17689/17777/17821. RDX Score- 15M(-1*)/75M(-2*)/1D(2*)/1W(5*) #Bearish
🟠 #BankNifty 36589/36751/37879/37025-37485/37566/37729/37885. RDX Score- 15M(-1*)/75M(-2*)/1D(2*)/1W(5*) #Bearish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis)
Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17475 15 MCB will extend the weakness. Bullish only above 17645 on HCB else avoid.
🟡 In case #Nifty opens near 17619 odd levels then one may take an intraday #Short for a target of 17500/17436 SL=16689.
🔴 #BankNifty below 37275 15MCB can see further selling. it has taken support 3-4 times near 37375. This time can break.
🟡 Remember if a level is tested multiple times then relevance of the level goes. Next attempt most likely breaks it.
🔴 Since 15/75M TF charts have net score less than 1, better to hold the bearish broken wing straddles (-2x CE -1x PE).
Nota
Standard Disclaimer:All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members/followers learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.
All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max us e it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).
🟠🟠🟠 Important Points To Remember: While trading never risk more than 1% capital per trade. While trading FnO always trade using risk defined strategies. NSE derivatives are leveraged 6-8x that means 12-15% move against you can wipe out your whole capital if the risk/money management is not proper. And stocks can easily move 10-12% due to some news. Before entering any trade see if the R:R is favorable or not.
I am reachable on below social handles.
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Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
I am reachable on below social handles.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
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