billionairetrder

Market Analysis of 29th September 2021 and Trade Recommendations

NSE:SBIN   STATE BK OF INDIA
Views On Nifty & Bank Nifty: Market Indices opened low taking cues from global markets. However, market participants returned to buy and took the market up. Despite this market closed in the RED.
Data Analysis: As observed today DIIs bought heavily in cash market while FIIs were net sellers. As Informed yesterday FIIs are creating more short positions as compared to long positions in Index Futures . Though the changes in Index calls and puts are nominal. I believe today’s up move will be short lived and tomorrow may close below 17500.
India VIX is high.US and European markets are in deep red. Check Asian markets in the morning.
Nifty PCR: 0.789
BN PCR: 0.8902
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Ashok Leyland (129.35): Bullish . One can go Long and stay if RSI > 60.
2. Bank Of Baroda (81.70): Bullish . One can go Long and stay if RSI > 60.
3. BHEL (62.80): Bullish . One can go Long and stay if RSI > 60.
4. Can Bank (168.15): Bullish . One can go Long and stay if RSI > 60.
5. Gail (156.30): Bullish . Expect correction. Buy on Dip.
6. National Alum (94. 40 ): Bullish . One can go Long and stay if RSI > 60.
7. SBI Bank (460): Bullish . One can go Long and stay if RSI > 60.