14OCT2021

Oct 14, 2021

Indian Indices (Fut) Last Session:
🟢 #Nifty had a strong gap up open above 18000 near PDH. Sustained buying & #Short covering made it close +0.95% higher.
🟢 #BankNifty had a strong gap up opening; but seen profit booking around 38836 mark to close near 38698 with 0.28% gain.
🟢 Nifty futures noticed buying with strong volumes despite global weakness specially from European markets. #VSABreakOut
🔴 FII's were net buyers of 2075+ cr ignoring option figures which could be for hedging. DII were net sellers of 431 cr. Bullish
🟢 Rally was broad based with all the sectors doing well. Auto/Metals/IT sectors outperformed the other sectoral indexes.

Technicals:
🟢 #Nifty notices 2 back to back #VSABreakOut candles on daily scale. Finally broke out above 18000 psychological level
🟢 Nifty RSIStairs bullish in all TF H/D/W/M. D(71.96), W(77.82), M(80.65) & ADX D(37.96). Momentum in favor of bullish.
🟢 Nifty trading above SuperTrend(10,2) & all major moving averages 20/50/100 in H/D/W TF. 20DEMA 17719. Ultra Bullish.
🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate / may stay bullish.
🟢 Till some major levels are broken DCB #Nifty (17275-17433) and #BankNifty(37765) trend & momentum in favor of bulls.
🟢 BankNifty RSI has broken out above 60. Banking stocks likely to do well this quarter. Expect +ve trend continuation.

Global markets (Last Session):
🔴 US markets closed mixed in a narrow range session. Dow closed flat while Nasdaq/SPX closed higher with decent gains.
🟢 European markets had weak opening but recovered sharply in second half to close higher at highest point of the day.
🟠 US 10YR yield cooled off 2.59% to 1.53 level. DXY fell 0.46 basis points to 94.08. Brent crude closed flat at 83.33.

Global markets (Morning Cues @08.30 AM):
🔴 Asian markets trading higher. SGX trading up by 75 points indicating positive opening in the Indian benchmark indices
🔴 US & Europe futures trading higher. Cues bullish. Instead of chasing gapup one can wait for any BuyOnDips opportunity.

Intraday Index Futures Levels
🟢 IDX Levels adjusted to an expected gap up. All TF bullish. Global cues are positive. #ParticipantData FII Bullish.
🟢 #Nifty Fut 18013/18059/18107/18162-18240/18306/18346/18405. RDX Score- 15M(+4*)/75M(+6*)/1D(+7*)/1W(+6*) #Bullish
🟢 #BankNifty 38175/38287/38421/38569-38885/38967/39018/39137. RDX Score- 15M(+4*)/75M(+5*)/1D(+6*)/1W(+5*) #Bullish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🔴 #Nifty trading & sustaining above 18200 on 15 MCB can move higher. Current extension can take it up to at least 18405.
🟠 Selling 18000 #Straddle post opening also can be good idea with 40% capital deployment. Rest required for adjustment.

News And Additional Data:
🟢 Infy/Wipro/Mindtree posted very good results in Q2.Infy revised the revenue guidance upwards which is very positive.
🟢 IT packs to lead the rally today. So after a gap up any fall or dip is a buying opportunity for intraday perspective
🟢 Infrastructure sector stocks will remain in focus after PM's announcement of 100 Lakh crore Gati-Shakti project plan.
🟠 Fed minutes says it could begin gradual tapering process by mid Nov . Wall-street reaction was neutral to this news.

Oct 14, 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.