Nifty50 closed 17915 as FIIs bought 1652 CR and DIIs bought 97 CR (Net positive of 1749). SGX nifty signals a gap up.
Today the market is expected to be in the range of 17100 on the upper side and 17800 on the lower side.
Short-Term Levels:
Resistance: 39.7 CR Call OI buildup @ 18000 level
Support: 75.5 Lacs Put OI buildup @ 17800 level (STRONG SUPPORT @ 17800 LEVEL)
17800 seems to be a crucial level (make or break level)
It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market.
Overall sentiment seems to be bullish, but it's important for the index to retain its position above 17800 levels and cross 18200 levels to declare a bull run.
Chart Pattern:
Also, the green candle stick pattern closing with a high of the day is a positive indicator. Also, the index is above 200 DMA, which signals a positive sign. The index must cross 18765 levels to see further upside.
Possible Trading Levels:
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)
DOWNSIDE TRADE:
Sell only below 17870 >>>>> Buy ITM 17900 PE (TGT 17820 | SL 17930)
Things to account for 28 April 2023:
1. Quarterly corporate earnings report for several companies:
UltraTech Cement, SBI Cards and Payment Services, CSB Bank, L&T Finance Holdings, Mahindra & Mahindra Financial Services, Vedant Fashions, Atul, CarTrade Tech, eMudhra, Himadri Speciality Chemical, Ramkrishna Forgings, Star Health and Allied Insurance Company, and Tata Metaliks
2. DOW up by 1.57%, AT 33826
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!!!
Today the market is expected to be in the range of 17100 on the upper side and 17800 on the lower side.
Short-Term Levels:
Resistance: 39.7 CR Call OI buildup @ 18000 level
Support: 75.5 Lacs Put OI buildup @ 17800 level (STRONG SUPPORT @ 17800 LEVEL)
17800 seems to be a crucial level (make or break level)
It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market.
Overall sentiment seems to be bullish, but it's important for the index to retain its position above 17800 levels and cross 18200 levels to declare a bull run.
Chart Pattern:
Also, the green candle stick pattern closing with a high of the day is a positive indicator. Also, the index is above 200 DMA, which signals a positive sign. The index must cross 18765 levels to see further upside.
Possible Trading Levels:
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)
DOWNSIDE TRADE:
Sell only below 17870 >>>>> Buy ITM 17900 PE (TGT 17820 | SL 17930)
Things to account for 28 April 2023:
1. Quarterly corporate earnings report for several companies:
UltraTech Cement, SBI Cards and Payment Services, CSB Bank, L&T Finance Holdings, Mahindra & Mahindra Financial Services, Vedant Fashions, Atul, CarTrade Tech, eMudhra, Himadri Speciality Chemical, Ramkrishna Forgings, Star Health and Allied Insurance Company, and Tata Metaliks
2. DOW up by 1.57%, AT 33826
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:
Safe to book partial profit @17975 as less volume move.
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)
Trade closed: target reached:
TARGET ACHIEVED : 18000 LEVEL
CALL GIVEN:
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)
CALL GIVEN:
UPSIDE TRADE:
Buy only above 17950 >>>>> Buy ITM 17900 CE. (TGT 18000 | SL 17880)