NIFTY - Possible Trade for Today- 02-09-2022

After a volatile expiry, the index is likely to remain sideways today unless the range established is broken on either side. With the Dow rallying almost 450 points from intraday low yesterday, there can be some positive handover for NIFTY from the mother market. SGX NIFTY also indicates a flat start with a mild positive bias. We hold the view that the market is poised for a strong and one sided move once the current range of 17480-17680 is broken.

Important levels for the day and next weekly expiry are given below

Bullish Above 17680

Possible Upside targets - 17730/17780/17860/17900/17980/18060

Bearish Below 17460

Possible downside targets- 17400/17320/17260/17140/17000/16920

The analysis provided is for educational purpose and the author does not assume any responsibility for the trades initiated based on the analysis. Consult your financial advisor before making any trades.


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