11OCT2021

Oct 11, 2021

Global markets (Last Session):
🟠 US markets closed flat in a narrow range day. Dow regained the 50 DEMA while SPX and Nasdaq trading below 50 DEMA.
🟠 European markets too had narrow range day and closed marginally lower. Looks like mostly weekend profit booking.
🟠 US 10YR yield closed higher +2.54% near 1.615. DXY cooled off to 94.04 mark. Brent crude rose by 0.15% to 82.56.

Indian Indices Last Session:
🟢 In a volatile session, #Nifty opened gap up and closed higher with 0.5% gains above 17900. Highest closing near ATH.
🟢 #BankNifty had a gap up; remained sideways full day. Finally settled flat with 0.08% higher. Poised for a breakout.
🟠 FII's were net seller of 265+ cr ignoring option figures which could be for hedging. DII were net sellers of 168 cr.

Technicals:
🟢 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(65.50), W(75.94), M(79.93) & ADX D(37.76)
🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. 20DEMA 17600. Potential BO Candidate.
🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks.
🟢 Till some major levels are broken DCB #Nifty (17275-17350) and #BankNifty(37249) trend & momentum in favor of bulls.
🟢 #Nifty #BankNifty spot gave NR7IB breakout yesterday. Need to wait for volatility expansion and breakout for longs.
🟢 #BankNifty RSI on verge of breakout above 60. Banking stocks likely to do well this quarter. Expect BO. 20DEMA 37452.

Global markets (Morning Cues @06.00 AM):
🔴 US & Europe futures trading marginally lower. Cues neutral. Need to wait for a day to get the direction for the week.
🟢 Asian markets trading higher. SGX trading up by 135 points indicating muted opening in the Indian benchmark indices

Intraday Index Futures Levels
🟢 IDX Levels adjusted to expected gap up. All TF bullish. Global cues positive. #ParticipantData of FII neutral.
🟢 #Nifty Fut 17618/17690/17743/17838-17947/18007/18053/18105. RDX Score- 15M(+3*)/75M(+2*)/1D(+3*)/1W(+7*) #Bullish
🟢 #BankNifty 37185/37375/37525/37749-38048/38173/38333/38425. RDX Score- 15M(+1*)/75M(+2*)/1D(+3*)/1W(+4*) #Bullish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🟠 #Nifty trading & sustaining above 17940 on 15 MCB will move higher. One need to wait for breakout and then take entry.
🟢 Volatility compression & expansion in both indexes. #NR7IB BO happened yesterday. #Long entry can be done on follow up.

Oct 11, 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.