NIFTY INDEX PRICE ACTION EXPECTED FOR THE DAY

Sep 23, 2020

INDEX SUMMARY

-SGX NIFTY IS INDICATING A FLAT START
-NIFTY INDEX HAS BROKEN ITS 50-EMA ON DAILY CHART WITH A NEW EMERGING TRENLDINE ALSO BEEN BROKEN
-NOW WHAT WE SAW IN THE USA MARKET IS ALL MAJOR INDICES BROKE BELOW 50-EMA SETUP AND AND TESTED ITS 100-EMA
-IF THAT IS THE CASE FOR INDIAN MARKETS THEN NIFTY CAN RETEST 10880 LEVELS IN COMING DAYS
-MONTHLY EXPIRY IN PLACE TOMORROW EXPECT VOLATILITY WILL BE HIGH
-CRUCIAL SUPPORT ON THE INDEX IS 11060-11080
-IF BROKEN LAST WHEN LEVELS WERE BREACH WE WENT ON TO TEST 10880
-EXPECT SOME FIGHT BETWEEN LEVELS OF 11025-11035
-ON THE UPSIDE IF INDEX STARTS TO TRADE ABOVE 11230 AND SUSTAINS WE CAN RETEST 11270-11325
-EXPECT RELIANCE TO LEAD THE COMEBACK RALLY
-REMEMBER MARKET IS EXPECTED TO BE SELL ON RALLY NOW UNLEESS 11425 IS TAKEN OUT

RESISTANCE FOR THE DAY (FUT)
11240-11280-11325
SUPPORT FOR THE DAY (FUT)
11185-11150-11120

SCREENSHOT



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Sep 23, 2020

Trade closed: target reached

MARKET AS EXPECTED REACHED 11060