12OCT2021

Oct 12, 2021

Global markets (Last Session):
🔴 US markets closed low near lowest point of the day. Dow/Nasdaq/SPX lost nearly 0.75% in a high volatile session
🟢 European markets had weak opening but managed to close marginally higher closing near highest point of the day
🔴 US 10YR yield cooling of today to 1.612 level. DXY rose high to 94.36 mark. Brent crude rose by 1.33% to 83.66.

Indian Indices Last Session:
🟢 #Nifty made high of 18059 before profit booking kicked in. Managed to close 0.42% higher. Highest closing near ATH.
🟢 #BankNifty made ATH of 38569 in a strong session. Second half seen some profit booking to close with +445(1.18%) high.
🟢 FII's were net seller of 2340+ cr ignoring option figures which could be for hedging. DII were net sellers of 373 cr.

Technicals:
🟢 Nifty RSIStairs has turned overbought in all timeframes D/W/M. D(67.28), W(76.46), M(80.12) & ADX D(37.59). #Caution
🟢 Nifty trading above all the major moving averages 20/50/100 in D/W time frame. 20DEMA 17636. Time to remain cautious
🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for another week
🔴 Good results are already priced in the market and hence #Nifty trading ATH. Any weak result may give TCS kind reaction.
🟢 Till some major levels are broken DCB #Nifty (17275-17433) and #BankNifty(37765) trend & momentum in favor of bulls.
🟢 #BankNifty RSI has given a breakout above 60. Banking stocks likely to do well this quarter. Expect BO. 20DEMA 37579

Global markets (Morning Cues @08.30 AM):
🔴 US & Europe futures trading marginally lower. Cues bearish. Need to wait for a day to get the direction for the week.
🔴 Asian markets trading lower. SGX trading down by 90 points indicating lower opening in the Indian benchmark indices

Intraday Index Futures Levels
🔴 IDX Levels adjusted to expected gap down. All TF bullish. Global cues negative. #ParticipantData of FII bearish.
🟠 #Nifty Fut 17618/17690/17743/17838-17995/18025/18053/18105. RDX Score- 15M(+1*)/75M(+3*)/1D(+5*)/1W(+6*) #Cautious
🟠 #BankNifty 37764/37957/38040/38175-38499/38569/38671/38775. RDX Score- 15M(+2*)/75M(+4*)/1D(+4*)/1W(+5*) #Cautious
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17885 on 15 MCB will move lower. One need to wait for breakout and then take entry.

News And Additional Data:
🔴 Investors worry about the fear of rising crude & commodity prices, inflation, proposed tax hike & tapering, Evergrande.
🔴 Avoid buy on dips. Rising commodity prices is concerning. Even though all looks well, valuations doesn't justify. Cautious.

Oct 12, 2021

Note

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.