Market Analysis of 20th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Markets had a negative bias the whole day. Despite an intraday reprieve in the early part of the day. It proved to be a sell on rise day. Nifty and Bank Nifty could not break last business day’s closing price and reversed down to close heavily negative.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. We can observe that FIIs have reduced their positions in Index Futures and Index calls and added their positions in Index Calls.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX which was showing upward move earlier was up by 14.84%.
Trade Recommendations for 20th - 24th Sep. 2021:
1. Adani Transmission (1729.35): Bullish reversal expected from support @ 1651.35
2. Bajaj Holding (4482.90): Has had high volume trading in the last 2 days. In the watchlist for possible move on either side.
3. BPCL (420.40): Price fall with high Volume. Would take sell position if RSI < 45 and hold till RSI < 40
4. Indusbank (1089.95): Price fall with Low volume. Seems to be a fake fall. It would reverse upwards. Can be bought at current price and held till RSI > 60.
5. Industower(263.05): Price fall with Low volume. Seems to be a fake fall. It would reverse upwards since at support.Can be bought at current price and held till RSI > 60.
6. ITC (233.75): Taken a bullish move. Traditionally a non-mover. RSI > 80 and hence overbought conditions. Expected reversal.
7. Indigo (2169.50):Bullish move.Could have possible profit booking .Buying opportunity on reversal post profit booking.
All Calls are for Short Term Trading and valid between 20th – 24th September 2021.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. We can observe that FIIs have reduced their positions in Index Futures and Index calls and added their positions in Index Calls.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX which was showing upward move earlier was up by 14.84%.
Trade Recommendations for 20th - 24th Sep. 2021:
1. Adani Transmission (1729.35): Bullish reversal expected from support @ 1651.35
2. Bajaj Holding (4482.90): Has had high volume trading in the last 2 days. In the watchlist for possible move on either side.
3. BPCL (420.40): Price fall with high Volume. Would take sell position if RSI < 45 and hold till RSI < 40
4. Indusbank (1089.95): Price fall with Low volume. Seems to be a fake fall. It would reverse upwards. Can be bought at current price and held till RSI > 60.
5. Industower(263.05): Price fall with Low volume. Seems to be a fake fall. It would reverse upwards since at support.Can be bought at current price and held till RSI > 60.
6. ITC (233.75): Taken a bullish move. Traditionally a non-mover. RSI > 80 and hence overbought conditions. Expected reversal.
7. Indigo (2169.50):Bullish move.Could have possible profit booking .Buying opportunity on reversal post profit booking.
All Calls are for Short Term Trading and valid between 20th – 24th September 2021.
Billionaire Trader