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.
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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.

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