InvestPro_India

Nifty Expiry Trade Setup | 21st July 2021

NSE:NIFTY   Nifty 50 Index
Nifty opened with a gap-down, broken our Sell level which was 15700 and we saw a sharp selling towards 15580 zones. We saw a bounce towards 15680 but couldn't sustain it at the upper level and we again came towards 15630-15620 zone. We bought 15600 CE at bounce and 15800 PE near 15680 resistance and booked great profit in both trades.

Expectations for Tomorrow: Range-bound day, Volatility after 1:30 PM.

Intraday Levels:
Buy Above - 15680
Sell Below - 15580

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team
Comment: We saw rejection last time in the 15835-15845 zone.... CE buyers are cautious.

ITM PE can also be bought in this zone.
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Comments

InvestPro_India kaushaltaksal
@kaushaltaksal, What is this?
Reply
kaushaltaksal InvestPro_India
@InvestPro_India, These are Monthly Gann levels. calculated by taking Previous monthly close, high and low as a source point. 45 Degree , 90 Degree 180, 270 and 360 are very Strong support and resistance zone. Both Nifty and Sgx have taken support of MONTHLY low and close of 90 D. Sgx nifty bounced back and met with resistance of Monthly high of 90 D. AB=CD Is a Harmonic pattern.
Reply
your levels are perfect
+1 Reply
InvestPro_India deepakbhogle
@deepakbhogle, Thanks.
Reply
Please share - what level of moment you are expecting tomorrow ?? Up or down ? Levels ?
Reply
InvestPro_India similarRhino62112
@similarRhino62112, SGX indicating gap up, we may see rejection again around 15700-15720 level and then consolidation to eat premium for both CE PE and volatility after 1:30 PM.
Reply
@InvestPro_India thanks. Based on present SGX AND usa market condition - tomorrow opening is above 15700 and move up till 15800 then only we can see rejection I feel. What is your opinion ?
Reply
InvestPro_India similarRhino62112
@similarRhino62112, It is not necessary for Indian Markets would follow exactly how International markets are behaving. We have the results season going on and not expecting to see 15800 until 1:30 tomorrow but anything can happen in the Market and as a Trader, we should trade our plan.
Reply