NIFTY50 30-09-2024 - MONDAY

Sep 30

LATE UPDATE:

PRE OPEN 26,061.30 -117.65 (-0.45 %) Advances - 10 Declines - 33 Unchanged - 7


Symbol PREV. CLOSE IEP Chng %Chng

RELIANCE 3,052.35 3,038.80 -13.55 -0.44
ICICIBANK 1,306.60 1,292.10 -14.50 -1.11
LT 3,705.65 3,699.00 -6.65 -0.18
HDFCBANK 1,752.65 1,748.80 -3.85 -0.22
INFY 1,906.75 1,880.00 -26.75 -1.40

All Major components negative. Metals positive but their weights are low. Hence market tend to be on the negative side.

Option chain Analysis:

09:30 major Resistance 26100 facing downwards
R2 - 26000
SUPPORT WAS AT 26000 FACING DOWNWARDS

So, clear indication that market should move to 25950 or below. The shifting happened around 10:15 am. so Market tend to shift more to 25850 or nearby.

RSI 15 MINS has made its bottom so reversal can occur.

Fingers crossed.

**caution: Market drifted from 1st October last year. Hence caution is calls suggested.

Sep 30

Trade closed: target reached

Major components Reliance, icici bank and hdfc bank retraced further by 30,10,12. Since the relative strength was negative market retraced further making the low of 25797. This may be a result of profit booking as US futures were relatively less negative. As RSI is bottoming out of 15 & 30 minutes chart we may notice a pull back.

Learning when RSI is less than 40 and no signs of retracement. Stay put. 40-60 are zones where both sides you suffer losses. When markets are positive is above 60 and hold. Try staying call.