RaviChandran_Rajkumar

How to Trade Nifty on Expiry - 10 March 2021

NSE:NIFTY   Nifty 50 Index
How to Trade Nifty on 10 March 2021

What Chart Says:
Nifty formed a solid bullish hammer on the day chart

Behind the scenes:
Advance to decline ratio is around 21:29 in nifty 50
FII data looks to bullish as i dont have the data at the time of review
European markets opened in green at the time of review
Crude oil is currently trading around $65.71
US 10Yr bond is showing some signs of selling pressure
USD/ INR is showing signs of lowering which is a very good sign

What to expect:
Nifty formed a kind of inside day candle and poised to head higher. Tomorrow being expiry and Thursday being holiday we can expect nifty to possibly have a gap up opening & trade in a range.

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 15202 and if it is taken out and if it acts as support then we can expect 15273 / 15333 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 15024. Any of these levels acting as a strong resistance can go short with possible lower targets of 14925/14862.
3. Flat OPENING - 15126 is the key level to watch out on flat open any support & resistance at this level we can take positions in the direction of the trend and sit for targets as marked.

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?? Each levels Act can as possible support and resistance????.

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Happy Trading !
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Indicator: https://bit.ly/3qJr8EL
Telegram: https://t.me/tradershedge
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