How to Trade Nifty on 03 March 2021

NSE:NIFTY   Nifty 50 Index
How to Trade Nifty on 03 March 2021

What Chart Says:
Nifty opened gap up & retested the previous close but found bullish by closing well above the session mid forming a bullish candle.

Behind the scenes:
Advance to decline ratio is around 47:3 in nifty 50
FII invested around 2200 crores into the market
At the time of review, US market was down by 1.69 percent & all european markets were in green. singapore nifty by flat.

What to expect:
We can most probably expect a flat to gap down opening in nifty & bank nifty today.

How to trade today:
Today being a day before expiry expect a
probable premium decay day by moving the market within the yesterdays range

Possible setups:
1. GAP UP OPENING - First possible resistance is at 15065 and if it is taken out and if it acts as support then we can expect 15176 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 14865. Any of these levels acting as a strong resistance can go short with possible lower targets of 14760/14702.
3. Flat OPENING - 14919 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
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