S&P CNX NIFTY INDEX FUTURESUpdated 27SEP2021
Last Session:
🟡 #Nifty Fut traded in narrow range of 17820-17935. Lack of participation before weekend. Expansion will give direction.
🔴 #BankNifty faced resistance near 38112.75. Bullish trades can be initiated once it clears this headroom resistance.
🔴 FII's were net seller of 1000cr. DII's also sold 515 cr equities. Monthly expiry; lets wait for more data formation.
Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(77.00), W(80.87), M(79.90). ADX D(45.96)
🟢 Everyday 1-2 #Nifty heavyweights come to rescue rising by 3-5% and helping markets move higher. No sign of exhaustion.
🟢 Result season also can give some more boost. This bull market doesn't seem like to take any pause at all & move high.
Global markets (Last Session):
🟢 US markets closed flat. As #Long as Dow trading below 34876/35097 this may be considered as a pullback from breakdown.
🔴 European markets closed lower. Chart setup on daily TF looks weak in DAX/UKX/CAC40. Need to wait for further direction.
🔴 US 10YR bond yield saw some traction last 2 days. It rose by 6.52% this week with RSIStairs breaking out above 55 mark.
🔴 Brent Crude trading at 3 year high of 78.01. On monthly it has given broken out above 12 years trend line resistance.
🔴 Dollar index has been sustaining above 93 CMP @93.27. Awaiting #CupAndHolder and #DoubleBottom BO above 93.60. Caution.
🔴 Precious metals Gold/Silver down by 3.5/6.5% this month & looks weak and has potential to correct even more from here.
Global markets (Morning Cues):
🟢 Asian markets are trading higher. SGX Nifty trading higher indicating a gap up opening in the Indian benchmark indices.
🟢 US futures trading higher with 0.5% gains. Europe futures also trading higher with 0.5% gain. Global cues very bullish.
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.
🔴 India VIX rose by 87% from the last week low of 9.02. Rising volatility will lead to increase in IV & option premiums.
🟢 Apart from rising Crude/DXY and 18000 psychological level the bulls are placed comfortably even after such a Long rally.
#Nifty Fut 17605/17666/17740/17801-17935/17987/18035/18090
RDX Trend & Momentum Score - 75M(5*)/1D(6*)/1W(6*) #Bullish
#BankNifty 37015/37275/37441/37594-37956/38116/38225/38415
RDX Trend & Momentum Score - 75M(3*)/1D(4*)/1W(4*) #Bullish
🟣 All levels to be considered on 15M candle closing basis
#TradePlan #PreOpenUpdate #IndexFutLevels #27SEP2021
TradePlan:
🟢 Trading and sustaining below 17666 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 38115 for 15M.
🟠 Selling 17900 #Straddle with some hedge/protection can be a good idea with balance funds to adjust in case of move.
🟢 HDFCBank, M_M, TataChem can be looked for #Long side. Metal & IT stocks may see profit booking going forward.
🟡 #Nifty Fut traded in narrow range of 17820-17935. Lack of participation before weekend. Expansion will give direction.
🔴 #BankNifty faced resistance near 38112.75. Bullish trades can be initiated once it clears this headroom resistance.
🔴 FII's were net seller of 1000cr. DII's also sold 515 cr equities. Monthly expiry; lets wait for more data formation.
Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(77.00), W(80.87), M(79.90). ADX D(45.96)
🟢 Everyday 1-2 #Nifty heavyweights come to rescue rising by 3-5% and helping markets move higher. No sign of exhaustion.
🟢 Result season also can give some more boost. This bull market doesn't seem like to take any pause at all & move high.
Global markets (Last Session):
🟢 US markets closed flat. As #Long as Dow trading below 34876/35097 this may be considered as a pullback from breakdown.
🔴 European markets closed lower. Chart setup on daily TF looks weak in DAX/UKX/CAC40. Need to wait for further direction.
🔴 US 10YR bond yield saw some traction last 2 days. It rose by 6.52% this week with RSIStairs breaking out above 55 mark.
🔴 Brent Crude trading at 3 year high of 78.01. On monthly it has given broken out above 12 years trend line resistance.
🔴 Dollar index has been sustaining above 93 CMP @93.27. Awaiting #CupAndHolder and #DoubleBottom BO above 93.60. Caution.
🔴 Precious metals Gold/Silver down by 3.5/6.5% this month & looks weak and has potential to correct even more from here.
Global markets (Morning Cues):
🟢 Asian markets are trading higher. SGX Nifty trading higher indicating a gap up opening in the Indian benchmark indices.
🟢 US futures trading higher with 0.5% gains. Europe futures also trading higher with 0.5% gain. Global cues very bullish.
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.
🔴 India VIX rose by 87% from the last week low of 9.02. Rising volatility will lead to increase in IV & option premiums.
🟢 Apart from rising Crude/DXY and 18000 psychological level the bulls are placed comfortably even after such a Long rally.
#Nifty Fut 17605/17666/17740/17801-17935/17987/18035/18090
RDX Trend & Momentum Score - 75M(5*)/1D(6*)/1W(6*) #Bullish
#BankNifty 37015/37275/37441/37594-37956/38116/38225/38415
RDX Trend & Momentum Score - 75M(3*)/1D(4*)/1W(4*) #Bullish
🟣 All levels to be considered on 15M candle closing basis
#TradePlan #PreOpenUpdate #IndexFutLevels #27SEP2021
TradePlan:
🟢 Trading and sustaining below 17666 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 38115 for 15M.
🟠 Selling 17900 #Straddle with some hedge/protection can be a good idea with balance funds to adjust in case of move.
🟢 HDFCBank, M_M, TataChem can be looked for #Long side. Metal & IT stocks may see profit booking going forward.
Note
Update on the TradePlan:🟢 17900 #Straddle lost 25 premium from opening. Good
🟢 HDFCBank (1.47%), M_M (+4.09%), TataChem (+3.09%)
🟢 #BankNifty above 38115 made high of 38395 (+285)
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.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.