29SEP2021

Indian Indices Last Session:
🔴 #Nifty Fut opened with gap, fell 325 points on volume selling then sharp recovery and closed with 0.76% lower at end.
🟠 #BankNifty opened with gap, fell 1000+ points on volume selling then sharp recovery and closed half a percent lower.
🔴 FII's were net seller of 7000cr+ excluding the index option data. In index options they have bought huge amount of PE.

Global markets (Last Session):
🟢 US markets closed lower by 1.63-2.66% in a volatile session. Rising Yield/Crude/DXY puts pressure on the risky assets.
🔴 European markets gap down and has selling through out the day to close near the lowest point of the day with 2%+ loss.
🔴 US 10YR bond yield rose 3.35% to 1.54. DXY broke out above 93.72 mark and closed at 93.76. Global ETF's closed lower.

Global markets (Morning Cues):
🟢 Asian markets are trading lower. SGX Nifty trading lower indicating a negative opening in the Indian benchmark index.
🟠 US & Europe futures trading marginally higher nearly 0.2-0.45%. Global cues weak adjusting to the yesterday sell off.

News And Additional Data:
🟢 As posted earlier post US FED meet, Dow didn't clear 35091 and hence it looks like a pullback not a bullish reversal.
🟢 Imported global cues will put some pressure on the mad bulls. Monthly expiry this two days can be highly volatile.

Nifty 50 Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(71.00), W(78.12), M(79.49) and ADX D(43.79)
🟢 #Nifty trading above SuperTrend(10,2) and all the major moving averages in D/W time frame. 20 DEMA placed at 17436
🟢 IT/Pharma/Financial sector looks weak and may lead weakness. Auto/OMC stocks to continue support to #Nifty. Bearish

Intraday Index Futures Levels
🔴 #Nifty50 17439/17485/17559/17618-17720/17810/17878/17935. RDX Score- 15M(-1*)/75M(-1*)/1D(4*)/1W(6*) #Caution
🟠 #BankNifty 37061/373/37594/37735-38422/38535/38625/38735. RDX Score- 15M(1*)/75M(1*)/1D(4*)/1W(4*) #Caution
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #29SEP2021 (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🔴 Trading and sustaining below 17666 will give any sign of weakness. One can sell 17700+ OTM SEP21 CE with protection.
🔴 Below 37594 on HCB we may see some strong profit booking in #BankNifty. In case of a big gap down dont jump #Short.

Comment:

Why sudden selling in US/Europe Markets?

🔴 FED chairman Powel acknowledges current inflation may stay higher for longer than expected. Risk of rate high buzz word again.
🔴 Rising commodity prices add to investors worry. Strong dollar may reduce the fund flows to the emerging economies and markets
🔴 It spooks speculation over bond yield where investors anticipate a rate hike. Investors start profit booking in riskier assets.

Comment:

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).

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