12OCT2021Global markets (Last Session):
🔴 US markets closed low near lowest point of the day. Dow/Nasdaq/SPX lost nearly 0.75% in a high volatile session
🟢 European markets had weak opening but managed to close marginally higher closing near highest point of the day
🔴 US 10YR yield cooling of today to 1.612 level. DXY rose high to 94.36 mark. Brent crude rose by 1.33% to 83.66.
Indian Indices Last Session:
🟢 #Nifty made high of 18059 before profit booking kicked in. Managed to close 0.42% higher. Highest closing near ATH.
🟢 #BankNifty made ATH of 38569 in a strong session. Second half seen some profit booking to close with +445(1.18%) high.
🟢 FII's were net seller of 2340+ cr ignoring option figures which could be for hedging. DII were net sellers of 373 cr.
Technicals:
🟢 Nifty RSIStairs has turned overbought in all timeframes D/W/M. D(67.28), W(76.46), M(80.12) & ADX D(37.59). #Caution
🟢 Nifty trading above all the major moving averages 20/50/100 in D/W time frame. 20DEMA 17636. Time to remain cautious
🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for another week
🔴 Good results are already priced in the market and hence #Nifty trading ATH. Any weak result may give TCS kind reaction.
🟢 Till some major levels are broken DCB #Nifty (17275-17433) and #BankNifty(37765) trend & momentum in favor of bulls.
🟢 #BankNifty RSI has given a breakout above 60. Banking stocks likely to do well this quarter. Expect BO. 20DEMA 37579
Global markets (Morning Cues @08.30 AM):
🔴 US & Europe futures trading marginally lower. Cues bearish. Need to wait for a day to get the direction for the week.
🔴 Asian markets trading lower. SGX trading down by 90 points indicating lower opening in the Indian benchmark indices
Intraday Index Futures Levels
🔴 IDX Levels adjusted to expected gap down. All TF bullish. Global cues negative. #ParticipantData of FII bearish.
🟠 #Nifty Fut 17618/17690/17743/17838-17995/18025/18053/18105. RDX Score- 15M(+1*)/75M(+3*)/1D(+5*)/1W(+6*) #Cautious
🟠 #BankNifty 37764/37957/38040/38175-38499/38569/38671/38775. RDX Score- 15M(+2*)/75M(+4*)/1D(+4*)/1W(+5*) #Cautious
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels (View all levels only at 15M candle closing basis)
Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17885 on 15 MCB will move lower. One need to wait for breakout and then take entry.
News And Additional Data:
🔴 Investors worry about the fear of rising crude & commodity prices, inflation, proposed tax hike & tapering, Evergrande.
🔴 Avoid buy on dips. Rising commodity prices is concerning. Even though all looks well, valuations doesn't justify. Cautious.
