05OCT2021

Global markets (Last Session):
🔴 Tech driven sell off dragged the wall street. US markets opened flat but faced sustained selling to close 1-2% lower.
🔴 European markets recovered from early morning losses but pared the recoery after US market opoen and closed lower.
🔴 US 10YR yield rose 1.16%. DXY fell to 93.77 mark. Crude oil shoots up 3% after OPEC decides gradual production cut.

News And Additional Data:
🔴 Investors worry in the fear of rising commodity prices, rising inflation, proposed tax hike & tapering, evergrande.
🟠 Indian markets has complete disconnect with global markets & have outperformed its peers. Due for a profit booking.
🔴 Weak global cues could put some pressure on overbought markets. Crude > 80 is a major concern for emerging economy

Indian Indices Last Session:
🟢 #Nifty opened gap up sustained above 17618 and closed near high with 1% gain with volumes above 20 day SMA average.
🟢 #BankNifty opened gap down, but recovered shapely to close above 20 DEMA in a highly volatile session with 0.5% loss.
🟢 FII's were net buyer of 100+ crs excluding option figures which could be for hedging. DII were net buyers of 228+ cr.

Nifty 50 Technicals:
🟡 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(64.00), W(74.55), M(79.39) & ADX D(40.53)
🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. Took support near the 20 DEMA 17503.
🔴 #Nifty broken down of the two months rising channel on daily/75M charts. Till #Nifty regains 17801 can see weakness.
🔴 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks.

Global markets (Morning Cues @08.30 AM):
🔴 Asian markets trading lower. SGX trading 100 point lower indicating a -ve opening in the Indian benchmark indices
🟠 US & Europe futures trading flat after strong sell off in previious session. Rising commodity price is is a concern

Intraday Index Futures Levels
🟢 #Nifty Fut 17438/17507/17607/17653-17789/17821/17905/17935. RDX Score- 15M(+2*)/75M(-1*)/1D(4*)/1W(6*) #Bearish
🟢 #BankNifty 37025/37249/37396/37585-37855/37913/38048/38173. RDX Score- 15M(+3*)/75M(-1*)/1D(3*)/1W(4*) #Bearish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17567 15 MCB will extend the weakness. Bullish only above 17743 on HCB else avoid.
🟡 Sell #Intraday straddle at opening for IV crush. After a gap down if fall halts can give big gains in the #Intraday
🔴 #BankNifty below 37375 15MCB can see further selling. it has taken support 3-4 times near 37375. This time can break.
🔴 75M TF charts score -1, & we may open negative, so can create #BearishBrokenWingStraddle (-2x ATM CE, -1x ATM/OTM PE)

Comment:

Standard Disclaimer:

All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members/followers learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max us e it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

🟠🟠🟠 Important Points To Remember: While trading never risk more than 1% capital per trade. While trading FnO always trade using risk defined strategies. NSE derivatives are leveraged 6-8x that means 12-15% move against you can wipe out your whole capital if the risk/money management is not proper. And stocks can easily move 10-12% due to some news. Before entering any trade see if the R:R is favorable or not.

Comment:

Both indexes have made PVBreakout candle. Volumes are decent and closing near day high. Expect positive opening. Good to go with #BTST #BullishBrokenWingStraddle (-2x ATM PE, -1x ATM/OTMCE)