S&P CNX NIFTY INDEX FUTURESUpdated 28SEP2021
Last Session:
🟡 #Nifty Fut opened with gap up but seen profit booking. 17805 gave polarity support and market closed flat near PDC.
🟢 #BankNifty cleared 38112.75 and went upto 38355, but lost half portion of gains in second half. Still closed higher.
🟢 Sensex tested ATH and closed above 60000 mark. #BankNifty also tested ATH. India VIX rose 6.68% to close at 18.05
🔴 FII's were net seller of 900cr excluding the option selling data. Monthly expiry; lets wait for more data formation.
Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(79.00), W(80.83), M(79.78) and ADX D(43.70)
🟢 #Nifty trading above SuperTrend(10,2), all major moving averages in 75M/D/W timeframe. BO levels 17806-17905 15 MCB.
🟢 IT/Pharma sector looks weak and may lead weakness. Auto/Financial/OMC stocks to continue support to #Nifty. Bullish
Global markets (Last Session):
🟢 US markets closed mixed. While Dow closed with minor gains, Russel/Nasdaq/S&P500 closed lower in a volatile session.
🔴 European markets opened with a gap up but pared half of the gains & closed marginally higher due to profit booking.
🔴 US 10YR bond yield rose 2.49%. DXY closed almost flat near PDC. Global ETF's saw buying interest and all closed higher.
🔴 Brent Crude rose by another 1.73% after a multi-year breakout and doesn't look exhausted. Can move up towards 88 mark.
Global markets (Morning Cues):
🟢 Asian markets are trading mixed. SGX Nifty trading higher indicating a positive opening in the Indian benchmark index.
🟠 US futures trading flat. Europe futures also trading flat. Global cues neutral. Rising Crude/DXY/VIX looks concerning.
News & Other Data:
🟢 FED FOMC meeting was a nonevent. Markets took it positively & bounced. Lets see if its a pullback or bullish reversal.
🟢 Trend/momentum in favor of bulls. This week, Nifty could make record longest rally of 377 days without 10% correction.
#Nifty Fut 17605/17666/17740/17801-17935/17987/18035/18090
Trend/Momentum Score- 15M(0*)/75M(3*)/1D(6*)/1W(6*) #Bullish
#BankNifty 37441/37594/37735/37918-38422/38535/38625/38735
Trend/Momentum Score- 15M(1*)/75M(4*)/1D(5*)/1W(4*) #Bullish
🟣 All levels to be considered on 15M candle closing basis
#TradePlan #PreOpenUpdate #IndexFutLevels #28SEP2021
TradePlan:
🔴 Trading and sustaining below 178066 will give any sign of weakness. Can be a SL for #Long. So far all is well & bullish.
🟢 Below 37594 on HCB we may see some profit booking in #BankNifty. Buy if #BankNifty trade & sustain above 38275 for 15M.
🔴 Selling 17850 #Straddle with some hedge/protection can be a good idea with balance funds to adjust in case of move.
🟡 #Nifty Fut opened with gap up but seen profit booking. 17805 gave polarity support and market closed flat near PDC.
🟢 #BankNifty cleared 38112.75 and went upto 38355, but lost half portion of gains in second half. Still closed higher.
🟢 Sensex tested ATH and closed above 60000 mark. #BankNifty also tested ATH. India VIX rose 6.68% to close at 18.05
🔴 FII's were net seller of 900cr excluding the option selling data. Monthly expiry; lets wait for more data formation.
Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(79.00), W(80.83), M(79.78) and ADX D(43.70)
🟢 #Nifty trading above SuperTrend(10,2), all major moving averages in 75M/D/W timeframe. BO levels 17806-17905 15 MCB.
🟢 IT/Pharma sector looks weak and may lead weakness. Auto/Financial/OMC stocks to continue support to #Nifty. Bullish
Global markets (Last Session):
🟢 US markets closed mixed. While Dow closed with minor gains, Russel/Nasdaq/S&P500 closed lower in a volatile session.
🔴 European markets opened with a gap up but pared half of the gains & closed marginally higher due to profit booking.
🔴 US 10YR bond yield rose 2.49%. DXY closed almost flat near PDC. Global ETF's saw buying interest and all closed higher.
🔴 Brent Crude rose by another 1.73% after a multi-year breakout and doesn't look exhausted. Can move up towards 88 mark.
Global markets (Morning Cues):
🟢 Asian markets are trading mixed. SGX Nifty trading higher indicating a positive opening in the Indian benchmark index.
🟠 US futures trading flat. Europe futures also trading flat. Global cues neutral. Rising Crude/DXY/VIX looks concerning.
News & Other Data:
🟢 FED FOMC meeting was a nonevent. Markets took it positively & bounced. Lets see if its a pullback or bullish reversal.
🟢 Trend/momentum in favor of bulls. This week, Nifty could make record longest rally of 377 days without 10% correction.
#Nifty Fut 17605/17666/17740/17801-17935/17987/18035/18090
Trend/Momentum Score- 15M(0*)/75M(3*)/1D(6*)/1W(6*) #Bullish
#BankNifty 37441/37594/37735/37918-38422/38535/38625/38735
Trend/Momentum Score- 15M(1*)/75M(4*)/1D(5*)/1W(4*) #Bullish
🟣 All levels to be considered on 15M candle closing basis
#TradePlan #PreOpenUpdate #IndexFutLevels #28SEP2021
TradePlan:
🔴 Trading and sustaining below 178066 will give any sign of weakness. Can be a SL for #Long. So far all is well & bullish.
🟢 Below 37594 on HCB we may see some profit booking in #BankNifty. Buy if #BankNifty trade & sustain above 38275 for 15M.
🔴 Selling 17850 #Straddle with some hedge/protection can be a good idea with balance funds to adjust in case of move.
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.
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EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
I am reachable on below social handles.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
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