NIFTY INDEX PRICE ACTION EXPECTED FOR THE DAY

Oct 9, 2020

INDEX SUMMARY

-SGX NIFTY IS INDICATING A GAP-UP OF 30 POINTS
-ACCORDING THE LTP PRICE GAP-UP IS INDICATING 50 POINT GAP-UP
-NIFTY YESTERDAY BROKE PREVIOUS HIGH OF 11794 AND TESTED 11900
-DUE TO EXPIRY WE SAW SOME REVERSE ACTION FROM THE TOP
-I WON'T GO WITH A SINGLE DAY CANDLE WHICH INDICATES "LONG-LEG DOJI"
-BUT THE BREAKOUT LEVEL OF 11794 WAS TESTED AND INDEX BOUNCED BACK
-LIKE EXPLAINED YESTERDAAY INDX NEEDS TO CLOSE ABOVE 11850
-WHEN THAT HAPPEN INDEX IN THE PAST HAS MANAGED TO TEST LEVELS OF 12000-12050
-CRUCIAL SUPPORT @11760
-CRUCIAL RESISTANCE @11915
-NOW WE WILL SEE MAJOR HURDLES ABOVE 11915
-SUPPLLY ZONES :-11945/11975
-GOOD SHORT OPPORTUNITY BELOWE 11800 IF CROSSES TODAY
-DON'T TRADE AGGRESSIVE WE HAVE RBI POLICY TODAY
-IT CAN DISTURB THE LEVELS


SCALP TRADE WITH DASH LEVELS
BULL SCENARIO
-IF MARKET CROSSES ABOVE 11914

NIFTY FUTURES TRADE
BUY@11915
STOP@11886
TARGET@11944
QTY=300


RESISTANCE FOR THE DAY (FUT)
11850-11880-11915
SUPPORT FOR THE DAY (FUT)
11830-11795-11763


SCREENSHOT


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
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