Great Rally today in both Nifty and Bank Nifty.
Nifty 50 has quickly covered the psychological barrier of the 17800 level which is crucial for 18000+ levels.
Resistance: 1.32 CR Call OI buildup @ 18000 level. followed by 91.4 L Call OI buildup @ 17900 level. (STRONG RESISTANCE AT 18000 LEVEL).
Support: 1.06 CR Put OI buildup @ 17700 level. followed by 1.05 L Put OI buildup @ 17600 level.
It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market.
VIX as of today has ended lower, which confirms the positive direction of the market.
Also, the candle stick pattern with a higher High and Higher Low plus a GREEN candle with a bottom shadow signals further upside tomorrow. It is better to trade in limited quantities with strict stop loss or hedging options though the market seems bullish and FIIs have been buyers in the past sessions.
Possible Trading Levels:
UPSIDE TRADE:
Buy only above 17850 >>>>> Buy ITM 17800 CE. (TGT 17900 | SL 17800)
DOWNSIDE TRADE:
Sell only below 17800 >>>>> Buy ATM 17850 PE (TGT 17750 | SL 17850) - Risky traders can TGT 17730.
Things to account for 13 April Thursday 2023 (Weekly Expiry):
1. India's Inflation rate is 5.66% YoY vs 6.44% YoY last year. This is positive news.
2. US inflation rate is 5% vs 6% last year. This will bring great relief as FED inflationary measures of the rate hikes will be possibly curtailed. This is again positive news for the economy and markets.
3. TCS Q4 Results declared and Profit jumps 15% YoY. A dividend declared of 24 per share. Positive News.
4. Weekly Expiry Day for Nifty and Bank Nifty.
Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors.
If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section.
HAPPY TRADING!!!
Nifty 50 has quickly covered the psychological barrier of the 17800 level which is crucial for 18000+ levels.
Resistance: 1.32 CR Call OI buildup @ 18000 level. followed by 91.4 L Call OI buildup @ 17900 level. (STRONG RESISTANCE AT 18000 LEVEL).
Support: 1.06 CR Put OI buildup @ 17700 level. followed by 1.05 L Put OI buildup @ 17600 level.
It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market.
VIX as of today has ended lower, which confirms the positive direction of the market.
Also, the candle stick pattern with a higher High and Higher Low plus a GREEN candle with a bottom shadow signals further upside tomorrow. It is better to trade in limited quantities with strict stop loss or hedging options though the market seems bullish and FIIs have been buyers in the past sessions.
Possible Trading Levels:
UPSIDE TRADE:
Buy only above 17850 >>>>> Buy ITM 17800 CE. (TGT 17900 | SL 17800)
DOWNSIDE TRADE:
Sell only below 17800 >>>>> Buy ATM 17850 PE (TGT 17750 | SL 17850) - Risky traders can TGT 17730.
Things to account for 13 April Thursday 2023 (Weekly Expiry):
1. India's Inflation rate is 5.66% YoY vs 6.44% YoY last year. This is positive news.
2. US inflation rate is 5% vs 6% last year. This will bring great relief as FED inflationary measures of the rate hikes will be possibly curtailed. This is again positive news for the economy and markets.
3. TCS Q4 Results declared and Profit jumps 15% YoY. A dividend declared of 24 per share. Positive News.
4. Weekly Expiry Day for Nifty and Bank Nifty.
Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors.
If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section.
HAPPY TRADING!!!
Trade closed: target reached:
TARGET of 17750 ACHIEVED!!!
Sell only below 17800 >>>>> Buy ATM 17850 PE (TGT 17750 | SL 17850) - Risky traders can TGT 17730.
Sell only below 17800 >>>>> Buy ATM 17850 PE (TGT 17750 | SL 17850) - Risky traders can TGT 17730.