Nifty Doji candle stick observedNifty
Nifty recovered 100 points from the lows of the day to close at 19436 (S2 19430)
It formed a Doji candle reflecting a fight between Bulls and Bears
Below today’s low, may open doors for a further fall of potentially another 100 -120 odd points
Short sellers can trail SL to 19482 as sustaining above that, a Short covering rally may come in.
FIIs sold in Cash Market to the tune of Rs 4424.02 Cr
DIIs have bought in Cash Market to the tune of Rs 1769.49 Cr
Important levels which may act as Support and resistance for the day
Imp levels on the upside: 19482 / 19535 / 19565
Imp levels on the downside 19368 / 19344 / 19233
Take care & safe trading...!!!
Futures
Nifty breaks 50 day EMA as well- On the bounce 19560 odd levels acted as resistance
- Nifty closed the day below 50 day EMA
Let’s see what Data is telling us for 04 Oct 2023…
Index Futures
Retail traders added 14382 Long Contracts and squared off 4026 Short Contracts
FIIs squared off 1327 Long Contracts and added 19261 Short Contracts
Pro traders squared off 1061 Long Contracts and squared off 2251 Short Contracts
Index Call Option
Retail traders added 13.04 Lakh Call Long Contracts and added 12.98 Lakh Call Short Contracts
FIIs added 3.76 Lakh Call Long Contracts and added 1.34 Lakh Call Short Contracts
Pro traders added 3.12 Lakh Call Long Contracts and added 5.59 Lakh Call Short Contracts
Index Put Option
Retail traders added 3.94 Lakh Put Long Contracts and added 6.83 Lakh Put Short Contracts
FIIs added 3.84 Lakh Put Long Contracts and added 39208 Put Short Contracts
Pro traders added 2.10 Lakh Put Long Contracts and added 2.64 Lakh Put Short Contracts
PCR : 0.84
FIIs sold in Cash Market to the tune of Rs 2034.14 Cr
DIIs have bought in Cash Market to the tune of Rs 1361.02 Cr
Important levels which may act as Support and resistance for the day
Imp levels on the upside: 19588 / 19614 / 19640
Imp levels on the downside 19468 / 19430 / 19372
Take care & safe trading...!!!
Why People Use Indicators 👑Royal Trend👑Royal Trend👑
Topic what Why People Use Indicators
In this video we try to understand the Actual Trading in Intraday and Long Term Treading
How market really work with number's
Difference between technical analysis and option trading
Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
why we learn option chain?
Option chain is a chart that will give in-depth information related to all stock contracts available for Nifty stocks. The best thing about the option chain is that it provides valuable information about the current security value and how it will affect it in the long term.
What is the purpose of option chain?
It can be used in creating an option strategy at several strike prices. It can be used to analyse and draw noteworthy insights about the stock and its probable movements. It helps the traders in evaluating the liquidity and the depth of the option contract.
How important is option chain analysis?
The option chain analysis data provides a very comprehensive view for all the available options for any particular underlying asset. This helps in understanding and selecting the correct option for trading or investment purpose.
NOTE
#We Are Not Promote Anything
#This channel Purpose to share market ideas.
Thanks for Watching🙏
Bandhan Bank - Low risk SetupThe chart shows that the stock has bounced back from 210, a support level for the last few months. Also, a retest area for the previous breakout makes it more significant ( if sustains above 210 ).
If sustains above 205-210, may go to 235/252/267 in a short time period. If sustains below 205, will weaken the strength.
Only for learning and sharing purposes, not a bit of trading advice in any form.
Do not gamble in any trade. Try to refine your trading setup in a way so that it should appear like a business.
All the best.
Ultratech - Towards 9000 ?As you can see the stock is traveling in a range that is forming a rising parallel channel. If does not breach the lower side of the channel, we can anticipate the price to move up to 9000.
This setup fails for the time if the price breaks down of the lower channel support.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
Gold prices continue to be under downward pressureThe world gold price stood at $1,919, down $6 from the same hour last morning. Precious metals are experiencing a brief technical sell-off amid a lack of supportive information. In addition, the USD and bond yields continued to increase, putting pressure on gold. In the short term, gold continues to be under downward pressure.
Even so, gold has strong support at the 200-day moving average, around $1,920. At the end of the year or early next year, the selling pressure on precious metals will decrease. The USD is expected to weaken following signals of the Fed's gradual loosening of monetary policy. Besides, the gold consumption season at the end of the year can also support this commodity more actively.
The gold market is under technical selling pressureWorld gold prices this morning increased slightly in the context of the market waiting for further data from the US economy to guide prices. It is expected that the August Consumer Price Index Report will be published on September 13.
The gold market is under technical selling pressure due to a lack of price increase motivation. Recent negative information about China's economic situation has put significant pressure on the gold market due to concerns about falling demand for precious metals in the country of billions of people.
HDFC Life - Keep on RadarThe stock has come down to the support area as shown on the charts. May reverse from here itself or may come down to even 600 levels. Keep tracking for a comfortable entry so that your stop-loss should be humble.
We should learn to hunt like a tiger. Show extreme patience. Take time to identify the trade to make a perfect entry. So that our target may not miss.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best for your trading journeys.
Info Edge - Long OpportunityAs shown on the charts, the stock has been forming a rising wedge pattern for quite some time. This time, trading at the lower levels. if bounces, may be bullish for some time.
MACD also shows a possible crossover.
The Setup fails if sustains below 4140 for two days.
The important thing at this point is a good risk-reward ratio.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
SRF - Low Risk SetupThe stock has taken support at the shown trendline third time in the last year. If bounces back again, it can be a good opportunity with a good risk-reward setup.
If goes bullish, humble targets may be 2350/2470. Sustaining below 2130 will weaken the strength.
Only for learning and sharing purposes, not a bit of trading advice in any form.
All the best.
GOLD : ADP jobs report reveals an economic slowdownThe range in gold futures on Wednesday, Thursday, and Friday of last week was tepid with a defined intraday high on all three days at approximately $1950 to $1955. Yesterday's report which revealed a softening of job openings resulted in a surge in moving gold of approximately $20, today gold had a fractional gain when compared to yesterday of approximately $5.00.
The ADP's monthly report is released on Wednesdays, 2 days before the release of the government's nonfarm payroll report. These two reports will occur before and after tomorrow's PCE index report. Today's jobs report came in well under expectations and much softer than the previous month of July. The July ADP report for June was revised upward recently, revealing that 371,000 new jobs were added.
XAUUSD : PCE index reveals Inflation remains persistent at 4.2%According to the report the core PCE price index (excluding food and energy) rose from 4.1% to 4.2% annually. Although prices continue to rise American consumers increased their spending by 0.8% in July although personal income only gained 0.2%. The core PCE rose 0.2% month over month and weekly jobless claims fell to 228,000 down 4000.
Today the Labor Department will release the jobs report for last month. This report will also have a large impact on the financial markets including gold and silver. Current estimates are that the report will show that an additional 170,000 jobs will be added to payrolls next month and that the unemployment rate will hold steady at 3.5%.
Tata Steel - Low risk setupThe chart shows that the stock is trading in a triangular pattern for the last few days. Also, a rising parallel channel is formed in recent times.
Considering the price of 102-100 as the last support, we can anticipate an upside move up to 135 around.
Only for learning and sharing purposes, not a bit of trading advice in any form.
All the best.
Ultratech - Positinal SetupIt is clear from the charts that the stock is trading in a parallel channel. yesterday's price was rejected from the upper resistance. if the pattern continues, it should come down to the indicated levels.
The logic behind entering here is a good risk-reward ratio at the moment.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
XAUUSD : Precious metals continue to increaseGold prices continue to increase today as newly released data shows that the labor market is showing signs of cooling and the US economy is slowing down. Specifically, the report on gross domestic product in the second quarter of the US Bureau of Economic Analysis showed that the economy grew by 2.1%, lower than expected.
Analysts are now closely watching the labor market as it can determine when the US central bank stops raising interest rates. The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
GOLD → Rather superficial reaction to the Fed Chairman's speechThis morning, the price of gold decreased due to a speech by Jerome Powell, the Chairman of the Federal Reserve (Fed), at the annual banking conference. Powell announced that the Fed will continue its tight monetary policy until inflation reaches 2%. This is understandable as the US Consumer Price Index (CPI) has increased from 3% in June to 3.2% in July.
Despite stable employment market conditions, this justifies the Fed's decision to tighten monetary policy. It is expected that during the November meeting, the Fed will raise the basic USD interest rate by 0.25% to continue combating inflation. This information has led to a strong increase in USD and a decrease in gold prices on the international payment basket.
📈 Exciting Bullish Pattern Alert! 🐂📊 Pattern: Rising Channel
📌 Symbol/Asset: Power Grid Corporation
🔍 Description: Stock is on daily strong support and the Probability of bounce back is high.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.