21SEP2021

Sep 21, 2021

Previous Session:
🔴 #Nifty down 2.75% from their highs with very good rising volume. #Nifty COI reduced indicating it was #Long unwinding.
🔴 #BankNifty made IceLand reversal pattern from its ATH and closed near the day low. Next VPOC support is near 36700.

Technicals:
🟡 Momentum indicators RSIStairs cooled off a bit from their highs in Nifty D(66.0), W(73.33), M(78.41). ADX D(42.94)
🟡 20 DEMA = 17174. 17366/17212 is major support in #Nifty on DCB below which market will reverse the #ShortTerm trend.
🟡 VPOC of the recent uptrend is placed near 17355-17375. Closing and sustaining below will give first sign of weakness.
🟡 In case #Nifty breaks these levels and start going down, next support as per volume profile placed at 16688/16188.
🟢 #Nifty PCR is very low and can give one reason for recovery when global markets are also recovering today morning.

Global markets (Monday):
🔴 US markets closed lower extending its losses from previous session with good recovery towards end. Fut higher.
🔴 European markets closed lower by 2-4% extending its losses from previous session. Futures trading higher today.
🟢 SGX Nifty trading higher indicating higher opening in the Indian benchmark indices. Asian markets trading mixed.

News & Other Data:
🔴 FII's sold 3000Cr directionally Index/Stock futures. From Sept-03 FII's have sold more than 9000 cr stock futures.
🟠 Global markets looks nervous before the FED FOMC meeting on Wednesday. Markets slip in Evergrande/Tapering fears.

TradePlan:
🔴 Selling 17400 + ATM #Straddle after 9.30 can be a good idea. After 2 volatile days market may consolidate today.
🔴 Profit booking in case of a wild gap up can be a good idea basis price action in lower timeframe charts (15/25M)

#Nifty Fut 17087/17212/17264/17295 - 17442/17487/17544/17619
RDX Trend & Momentum Score - 75M(-3*)/1D(5*)/1W(7*) #Bearish

#BankNifty 36516/36688/36805/37024 - 37426/37558/37687/37854
RDX Trend & Momentum Score - 75M(2*)/1D(4*)/1W(5*) #Cautious

🟣 All levels to be considered upon 15M candle closing basis
#TradePlan #PreOpenUpdate #IndexFutLevels #21SEP2021

Sep 21, 2021

Note

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.