07OCT2021

Global markets (Last Session):
🟢 US markets opened lower but recovered 1.5-1.75% sharply from day low to close higher near highest point of the day.
🟢 European markets opened lower & went down by 2-2.25%. But later recovered in second half to close with 1-1.5% loss.
🟠 US 10YR yield closed lower -0.33%. DXY rose to 94.23 mark. Crude oil eased off by 2.08% to close near 80.82 levels.

News And Additional Data:
🔴 Investors worry about rising crude and commodity prices, inflation, proposed tax hike & tapering, Evergrande crisis.
🟢 Indian equity markets have total disconnect with the global markets & have outperformed its global peers by miles

Indian Indices Last Session:
🟢 #Nifty opened gap up but seen consistent selling pressure. Towards the end, #Nifty closed near day low with 1% loss.
🟢 #BankNifty had a gap up too but closed near the day low, due to consistent profit booking at higher levels near 38117.
🔴 #Short buildup seen in #Nifty with PV breakout below PDL, Both indices had weak closng near the lowest point of day.
🔴 FII's were net seller of 2575+ cr ignoring option figures which could be for hedging. DII were net sellers of 998 cr.

Technicals:
🟢 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(57.00), W(73.80), M(79.06) & ADX D(38.91)
🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. 20 DEMA 17542. #BearishBeltHold daily.
🟢 #BankNifty trading above all the major averages 20/50/200 DEMA. 20 DEMA at 37402. Will turn weak below next LOC 37249.
🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks.
🔵 Till some major levels are broken DCB #Nifty (17275-17350) and #BankNifty(37249) trend and momentum in favor of bulls.

Global markets (Morning Cues @07.45 AM):
🟢 Asian markets trading higher. SGX trading up by 135 points indicating higher opening in the Indian benchmark indices
🟢 US & Europe futures trading 0.5% higher after a volatile previous session. Rising commodity price remains a concern.

Intraday Index Futures Levels
🟢 IDX Levels adjusted to expected gap up. Lower TF bearish but basis the higher TF score & global cues bias bullish.
🟢 #Nifty Fut 17505/17556/17618/17640-17743/17792/17864/17905. RDX Score- 15M(-7*)/75M(+2*)/1D(+2*)/1W(+6*) #Bullish
🟢 #BankNifty 37185/37375/37525/37749-37764/37913/38048/38173. RDX Score- 15M(-6*)/75M(+2*)/1D(+3*)/1W(+4*) #Bullish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🟢 PCR 0.59. Shorts created yesterday will be on pressure today after seeing strong global markets. Expect #Shortcover
🟢 #Nifty trading & sustaining above 17743 on 15 MCB will move higher. One can adapt buy on dips strategy in expiry day.
🟡 Adjustment: Avg yesterday 17650 Straddle with 17750/17800 #Straddle when spot near BEP 17775. Will adjust more later.

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).

🟠🟠🟠 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.

Comment:

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🟢 17650 Straddle with 17800 #Straddle average closed in gains.
🟢 Above 17743 #Nifty moved nearly 100 points. SAR Point.