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Nifty Levels & Strategy for 23/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Today, Nifty has performed as expected after US FED hike by 75 basis points and hawkish commentary. Sell on rise strategy really worked well. F&O OI data are indicating further bearishness. Today also US indices are trading in red. Let us see if US market recovers from by EOD. NIFTY SCORECARD DATED 22/SEP/2022 Nifty is down by -88.55 points Name Price Previous Day Change % Change Nifty 17630 17718 -88.55 -0.50% India VIX 18.82 19.33 -0.51 -2.64% Max OI (Calls) 19000 (Open Interest: 7029200) Max OI (Puts) 16000 (Open Interest: 4912700) PCR 0.88 (PCR is in bearish zone) NOTES BASED ON 29/Sep/2022 EXPIRY DATA: Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Long Buildup, FAR OTM:Short Buildup Shall we continue to look for sell on rise opportunities/profit booking ????? Yes, I think so. What do you think? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity based on strength in Indian market? Yes, I think so. What are your views? 1. near major support levels 2. near high OI in PE strikes with strict SL? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:NIFTYShort
by manishmgupta
Nifty Levels & Strategy for 22/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is down by -98 points. PCR is down from 0.99 (sideways zone) to 0.73 (bearish zone). It looks like US market along with Indian market has digested US FED hike up to 0.75%. Today, US market is trading in green. Let us hope for the best for better outcome of US FED meeting. What are your views? Please do share. Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Shifted up from 17000 to 17500) BANK NIFTY Bank Nifty is down by -265 points. PCR is shifted down from 1.07 (mild bullish zone) to 0.84 (bearish zone). It looks like today Bank Nifty followed weak global cues and bulls were nervous ahead of US FED meeting outcome. Highest open interest on call side at 43000 (Shifted up from 42000 to 43000) Highest open interest on put side at 40000 (Remained at same level) Will tomorrow’s trades be based on US FED meeting outcome? I think so. What do you think? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 21/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is up again by 194 points. PCR is up from 0.70 ( bearish zone) to 0.99 (sideways zone). It looks like Indian market has digested US FED hike up to 0.75%. If IT sector supports, then Nifty may not only cross 18K level but also make a move towards lifetime high in next few days. Tomorrow, Nifty is likely to trade sideways. What are your views? Please do share. Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Shifted down from 17500 to 17000) BANK NIFTY Bank Nifty is up by 564 points. Superb performance by Bank Nifty amid so many global issues. PCR is shifted up from 0.78 ( bearish zone) to 1.07 (mild bullish zone). Frankly, it’s strange to see bank nifty is once again close to lifetime high amid global issues (Strong USD, weaker Indian Rupee) as Indian issues like current account deficit is growing. If US market recovers in coming days then I will not be surprised to see Bank Nifty again not only making new lifetime high but also sustain at higher levels. Highest open interest on call side at 41500 (Shifted up from 41500 to 42000) Highest open interest on put side at 40000 (Shifted up from 38500 to 40000) Shall we continue to look for sell on rise opportunities/profit booking till US Fed meeting ????? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity based on strength in Indian market? Yes, I think so. What are your views? 1. near major support levels 2. near high OI in PE strikes with strict SL? Overall, is Indian market likely to remain sideways till outcome of US FED meeting????? I think so. What do you think? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 20/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is up by 91 points. Today, Nifty has performed as expected. Nifty was already oversold on Friday and morning dip was bought instantly and closed in green. PCR is up from 0.49 (oversold zone) to 0.7 (bearish zone). Market sentiment is bearish ahead of US Fed meeting. Highest open interest on call side at 18000 (Shifted down from 19000 to 18000) Highest open interest on put side at 15000 (Shifted up from 17000 to 17500) BANK NIFTY Bank Nifty is up by 128 points. PCR is shifted up from 0.69 (highly bearish zone) to 0.78 (bearish zone). US markets closed in red and even today trading in red. US Dollar, US 10Y Bond Yield is further getting stronger. Indian Rupee & other global currencies are getting weaker which is certainly not a good sign for emerging economies like India. Highest open interest on call side at 41500 (Shifted up from 41500 to 42000) Highest open interest on put side at 40000 (Shifted up from 38500 to 40000) Shall we continue to look for sell on rise opportunities till US Fed meeting ????? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity 1. near major support levels 2. near high OI in PE strikes with strict SL? Is Bank Nifty likely to remain sideways till outcome of US FED meeting????? I think so. What do you think? Please do share your comments. Let us work & win together. Please do check & review following prior to finalize your strategy/work plan for next trading session 1. Global cues based on EOD data 2. FIIs/DIIs F&O data analysis prior to finalize your strategy/work plan for tomorrow Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
2
Nifty Levels & Strategy for 19/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is down by -346.55 points. Today, Nifty has broken down & closed below major support levels. PCR is down from 0.72 ( bearish zone) to 0.49 (oversold zone). Today, selling on rise strategy coupled with F&O data worked well as expected. Market sentiment has turned bearish , but it will be better to wait for good trade setup because Nifty is right now in oversold zone otherwise traders may get trapped. Highest open interest on call side at 19000 (Shifted up from 18700 to 19000) Highest open interest on put side at 17000 (Shifted up from 16500 to 17000) BANK NIFTY Bank Nifty is down by -432.4 points. Bank Nifty performed as expected based on global cues and strong selling by FIIs. Bear made good money today. PCR is shifted down from 0.87 ( bearish zone) to 0.69 (highly bearish zone). US markets are trading at 2 months low and trading today as well in red. US Dollar is getting stronger and Indian Rupee is getting weaker. RBI will have no choice but to go ahead for a rate hike in India to control inflation & Dollar-Rupee equation. Highest open interest on call side at 41500 (Remained at same level) Highest open interest on put side at 38500 (Remained at same level) Shall retail traders should utilize gap-down on Monday for profit booking & wait for right opportunity? What’s your idea for next trading session? Shall we again start looking for sell on rise opportunities ????? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity 1. near major support levels 2. near high OI in PE strikes with strict SL? What do you think? Please do share your comments. Let us work & win together. Please do check & review following prior to finalize your strategy/work plan for next trading session 1. Global cues based on EOD data 2. FIIs/DIIs F&O data analysis prior to finalize your strategy/work plan for tomorrow Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
6
Nifty Levels & Strategy for 16/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is slightly down by -126 points. Today, Nifty has broken down 18K level and could not close above the psychological level. PCR is down from 1.1 (buying zone) to 0.72 (bearish zone). Today’s positive opening has given chance to retail traders for booking profit. Later Nifty slipped below 18K level. Highest open interest on call side at 18700 (Based on next weekly Sep, 22nd expiry data) Highest open interest on put side at 16500 (Based on next weekly Sep, 22nd expiry data) BANK NIFTY Bank Nifty is down by -196 points. Today was a historical day when Bank Nifty touched new lifetime high. It was dream come true amid several global issues. Bank Nifty was pushed in red due to heavy profit booking & new short positions added by traders. PCR is shifted down from 1.62 (Overbought zone) to 0.87 (bearish zone). Highest open interest on call side at 41500 (Based on next weekly Sep, 22nd expiry data) Highest open interest on put side at 38500 (Based on next weekly Sep, 22nd expiry data) Shall we again start looking for sell on rise opportunities ????? 1. till Nifty is below 18K 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity 1. near support level 2. high OI in PE strikes with strict SL? What do you think? Please do share your comments. Let us work & win together. Please do review 1. Global cues based on EOD data 2. FIIs/DIIs F&O data analysis prior to finalize your strategy/work plan for tomorrow Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 14/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is up again by 134 points. Today, Nifty has broken the 18K wall of highest open interest, but strength was clearly missing after initial breakout. PCR is further up from 1.02 (sideways zone) to 1.32 (bullish zone). Bears are all set to bring down Nifty below 18K after blood bath in US market based US inflation data and fear of jumbo rate hike in near future. Highest open interest on call side at 18500 (Shifted up from 18000 to 18500) Highest open interest on put side at 17900 (Shifted up from 17900 to 18000) BANK NIFTY Bank Nifty is up again by 299 points. Bank Nifty has closed 3rd time in a row at new lifetime weekly high. Bulls have really performed well amid several global issues. Everything was going good for bulls, but today’s higher US inflation data is likely to put a break in sharp bear market rally. Bears are all set to take over. Market is going to give opportunities to those who missed to buy during the rally/clear the bleeding short positions. Highest open interest on call side at 41000 (Shifted up from 40500 to 41000) Highest open interest on put side at 40000 (Shifted down from 40500 to 40000) Shall we start looking for sell on rise opportunity amid global issues till US Fed hike in near future near major resistance level with strict stoploss? Or Shall we look for buy on dips opportunity after decent correction? What do you think? PLEASE MAKE A NOTE THAT TOMORROW MORNING, WE WILL SEE THE SHARP REACTION OF US INFLATION DATA. Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTYShort
by manishmgupta
Nifty Trade setup Idea - 13 september 2022Similar to Banknifty, Nifty was also trading in a range after the initial spike. It was not able to break 17980 in the up side and 17920 in the down side. My Plan: - Today it would interesting for option buyers, since we would see either a breakout or breakdown above 18000 or below 17900 levels. - I would only look to trade if one of these levels are breached. - If there is a huge gapup, then there would be volatility in the market. Lot of profit booking might take place. - If there is a huge gap down, then we might see panic in the market causing the market to fall futher.
NSE:NIFTY
by GenkeiFutura
Nifty levels & strategy for 13/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is up by 103 points. Nifty is successfully trading above major resistance zone. PCR is up from 0.89 (bullish zone) to 1.02 (sideways zone). Nifty is trying hard to cross the 18K level. If inflation data is next major trigger. If data comes positive and then we may see a new lifetime high in Nifty.Certainly, support zone in Nifty has shifted up. Important resistance levels became new support levels. Max open interest has jumped up significantly which means big players are looking at expiry on higher levels near lifetime high. Overall, Indian market data is looking good. Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17900 (Shifted up from 17000 to 17900) BANK NIFTY Bank Nifty is up by 158 points. Bank Nifty is really performing well and closed above 40500 level which is a new lifetime weekly high. Extra ordinary performance by Banking stocks amid ongoing global issues. Any dip Bank Nifty due to US inflation data in next few days should be buying opportunity. However, trader should work level by level. Max open interest has jumped up significantly. Please do make a note of it. Highest open interest on call side at 40500 (Remained at same level) Highest open interest on put side at 40500 (Shifted up from 39000 to 40500) Shall we continue look for buy on dips opportunities near major support? Yes, I think so. What do you think? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 12/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is up by 35 points. It’s really important to understand that Nifty has sustained 17800 plus critical make or break levels amid global issues & profit booking by big traders. PCR is down from 1.17 (bullish zone) to 0.89 (bearish zone). Overall, Nifty performed well and hit the majority of the targets as expected. It's really difficult for option writers to manager gap-ups & gap-downs. These days, we are having higher swings in both the direction due to high liquidity and better retail traders participation. Support Zone in Nifty is shifted up. Important resistance levels became new support levels. IT sector has started performing now. Hoping, it will lift Nifty to new lifetime high. Will Break out in Nifty sustain amid global issues? Answer is yes, breakout is sustained. Is Nifty getting ready to touch new lifetime high? If Nifty crosses & sustained above 18000 level, then shall we expect Nifty to move further up? Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Shifted down from 17500 to 17000) BANK NIFTY Bank Nifty is up by 207 points. Bank Nifty performed well and closed above 40K level which should be considered really good amid ongoing global issues. Bank Nifty comfortably traded above 40K even after significant rate hike of 75 basis points by ECB. Highest open interest on call side at 40500 (Shifted down from 41000 to 40500) Highest open interest on put side at 39000 (Shifted down from 39500 to 39000) Shall we continue look for sell on rise opportunities? I don’t think so. What do you think? Shall we continue look for buy on dips opportunities near major support? Yes, I think so. What do you think? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
2
Nifty Levels & Strategy for 09/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is up by 174 points. Steller performance by Nifty. PCR shifted up from 0.92 (bearish zone) to 1.17 (bullish zone). Nifty performed beyond expectation and hit all the targets. Option writers also made good money as most of them timely close CE leg and PE writing continued through the trading session. Today we had a very nice trending day and retail traders could make good money based on their huge overnight buy position in F&O contracts. Support Zone in Nifty is shifted up. Resistance Levels became New Support Levels. Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17500 (Shifted up from 17000 to 17500) BANK NIFTY Bank Nifty is up by 753 points. Extra ordinary performance by bulls lifted up Bank Nifty beyond the major resistance zone. It will be interesting to watch whether breakout will sustain amid global issues and after ECB hike by 75 to 100 basis points today or it will get back into previous trading range. Highest open interest on call side at 41000 (Shifted up from 40000 to 41000) Highest open interest on put side at 39000 (Shifted up from 39000 to 39500) Will Break out in Nifty sustain amid global issues? Is Nifty getting ready to touch new life time high ? Shall we continue look for buy on dips opportunities near major support levels? My view is neutral with positive bias. However let us see how global markets reacts overnight after ECB hike. Please do review & analyze EOD closing data for preparing tomorrow's trade plans. Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 07/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. FIIs bought in cash market for 1145 crores and bought in F&O for 1642 crores (what they bought? In reality they have shorted calls & bought puts which means they are actually bearish only). DIIs also bought in cash market for 633 crores. FIIs reduced long positions in Index future & stock future contracts and added short positions in index call & stock call options & long positions in index put & stock put stock put options. Today, FIIs are bearish in all types of contracts. DIIs are also bearish in all types of contracts. Pro traders followed balanced approach. Pro traders have added long contracts in Index future, stock future & hedged their future contract positions using option contracts. Retail traders have added long positions in all types of contracts. If market goes down & break any major support, then it may create panic selling situation for retail traders. May God save retail traders. NIFTY Nifty is down by just -10.2 points. PCR shifted down from 1.07 ( bullish zone) to 0.87 ( bearish zone). Nifty traded in both the directions. SL & TSL hitting day for majority of the retail traders. Nifty is slowly getting ready for breaking the range on either side. Highest open interest on call side at 17800 (Shifted down from 18000 to 17800) Highest open interest on put side at 17000 (Remained at same level) BANK NIFTY Bank Nifty is down by -139.25 points. Bank Nifty offered opportunities to both bulls as well as bears. PCR shifted down from 1.2 ( bullish zone) to 0.91 ( bearish zone). Highest open interest on call side at 40000 (Remained at same level) Highest open interest on put side at 39000 (Shifted up from 38000 to 39000) Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? and Shall we continue look for buy on dips opportunities near major support levels till indices are trading in a range? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
2
Nifty levels & strategy for 06/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. FIIs sold in cash -812 crores and bought in F&O 3862 crores. DIIs bought in cash market 534 crores. FIIs added long positions in F&O Index future & stock contracts and reduced short positions in index put & stock put options. FIIs are bullish on market. DIIs added short contracts in Index future, stock future & stock call option. DIIs are bearish on market. Pro traders followed balanced approach. Pro traders have added short contracts in Index future, stock future & hedged their positions using option contracts. Retail traders have added short contracts in Index future, stock future & index short call. Retail traders also heavy bought index put long & stock put long options except stock call long options. Overall retail traders are highly bearish on the market. May god save retail traders. NIFTY Nifty is up by just 126 points. PCR shifted up from 0.80 ( bearish zone) to 1.07 (buying zone). Nifty traded sideways after initial gap-up. Nifty is trading near major resistance zone. Let us see if Nifty breaks out above 17777 level and make a move towards 18000 level. Nifty trading range has shifted up. Is Nifty getting ready for breaking out/ready to touch 18000 levels in coming days ????? Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Remained at same level) BANK NIFTY Bank Nifty is up by 385 points. Bank Nifty firmly today. PCR shifted up from 0.91 ( bearish zone) to 1.2 (buying zone) amid global issues like US Dollar Index at 20 year high, Russia stopping gas supply to Europe & few more. Highest open interest on call side at 40000 (Shifted up from 39500 to 40000) Highest open interest on put side at 38000 (Remained at same level) Federal Bank denied reports of a likely merger with Kotak Bank (slightly negative for BN ). SBI 2700 Crores received dues from Vodafone ahead their planned schedule. I don't trade or recommend Vodafone Idea stock but this news is certainly positive for SBI & therefore Bank Nifty Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? Or Shall we look for buy on dips opportunities near major support levels till it is trading in a range? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTYLong
by manishmgupta
Nifty levels & strategy for 05/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty closed flat & closed by just -3.35 points. PCR shifted from 0.89 (bearish zone) to 0.80 (bearish zone). Trading in Nifty was easy & predictable. Nifty has followed the technical setup and gave opportunities to bulls as well bears and finally closed flat. Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Remained at same level) BANK NIFTY Bank Nifty is up by 120 points. Bank Nifty remained sideways for most of time. PCR shifted up from 0.84 (bearish zone) to 0.91 (bearish zone). Call side OI is daily shifting up & down. Let us see when 38000 will be challenged amid ongoing global issues. Highest open interest on call side at 39500 (Shifted down from 40000 to 39500) Highest open interest on put side at 38000 (Remained at same level) Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? Or Shall we look for buy on dips opportunities near major support levels till it is trading in a range? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty levels & strategy for 02/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is down by -216.5 points. Today, initially Nifty has given chance to bears as well as bulls for making decent profits who worked level by level in disciplined manner. Later, option writers made good money. A perfect day for a trader who understands technical/OI (open interest) changes well. PCR shifted from 1.3 (bullish zone) to 0.89 (bearish zone). Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Remained at same level) BANK NIFTY Bank Nifty is down by -235.5 points. Bank Nifty remained sideways for most of time after initial gap-down & recovery. PCR shifted from 1.54 (overbought zone) to 0.84 (bearish zone). Daily quick swings/sudden changes in OI are making life difficult for option writers. Highest open interest on call side at 40000 (Shifted down from 41000 to 40000) Highest open interest on put side at 38000 (Remained at same level) Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or Shall we look for buy on dips opportunities near major support levels? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Nifty Levels & Strategy for 01/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. NIFTY Nifty is up by 446 points (simply mind-blowing, mind-boggling rally within a day). Nifty closed near day’s high, above 20 EMA , VWAP levels. One way move without any red candle on 15 min chart is amazing & shocking for majority of the traders like me. Honestly, I didn’t anticipate such a one-way strong rally specially after heavy selling by FIIs just a day before. I had clear negative bias but finally followed the price action and OI data (heavy put writing & short covering in calls) which really helped me trading in the direction of trend. Overall, I was relatively safe as my overnight positions are always hedged. Today, Indian markets are closed and SGX Nifty is down by 300 plus points at this point of time. Now, are we getting ready for a gap-down? Let us see, how it goes tomorrow as situation may get change over-night? Highest open interest on call side at 18000 (Remained at same level) Highest open interest on put side at 17000 (Remained at same level) BANK NIFTY Bank Nifty is jumped up by 1260 points. Bank Nifty closed near day’s high, above 20 EMA , VWAP levels. Bank Nifty continued moving up after initial gap-up . Surprisingly, there was no retracement. One of the very rare days. PCR at 1.54 is shifted from oversold zone to overbought zone. Bulls got trapped on 29th Aug & Bears got trapped on 30th Aug. Traders can not work with fixed mindset. We should be dynamic and quick enough in working level by level. We need to study & analyse all inputs and follow market price action. Market is supreme. If our view goes right, then ride on profit using TSL else be quick in taking SL. SL should not be kept in mind. Trader should trade with strict SL and SL order should be place within 60 seconds of placing trade order. Risk:Reward ratio of 1:2 should be maintained which will ensure that we will remain profitable even if our 50% decision goes right. Highest open interest on call side at 41000 (Shifted up from 39500 to 41000) Highest open interest on put side at 38000 (Remained at same level) Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or Shall we look for buy on dips opportunities near major support levels with strict SL? Friends, your trading decision should be based on data, price action and your own understanding. Don’t let emotions take-over your trust & trading/investment skills. Please do learn how ride on profit using TSL (Trailing stop loss) and timely exit with market SL (stop loss) & not your own SL. Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:NIFTY
by manishmgupta
Sell Nifty below 17540 target17390/17260/17060 stop above 17650Nifty is showing rejection from the higher levels and with Fed latest comments the interest rates will see a sharp spike and the result will be felt by the economy especially certain rate sensitive business will feel the "pain". Technically also any sustenance below the levels of 17540 will open give some more pressure to nifty. From the indicators point of view the RSI is also weakening and EMA & SMA Crossover also hinting the same.
NSE:NIFTY1!Short
by Adi_tech
1