Nifty 01/Sep/2022 Expiry Day Prediction

we might see the market be opened in a gap down state(i.e > 100 points).

The reason for it is by overlooking the below points:
1) From option chain data we can see that there is an increase in call sellers as today's market has shown a great movement so it can be used to trap retail traders.
2) SGX Nifty is trading in a downtrend and more downward momentum can be expected in it.
3) Today Nifty closing price is at the most crucial resistance from which it has already seen rejection more than 3 times. So the market can come to retest the level 17750 and if the market breaks the level upward then we can see it to make a high of 18000 and above but if that resistance level is respected then we can see a fall till 17312 on the same day or in next week.
4) From Fibb. retracement levels it can be seen that its target in the upward trend is 17885 & downward target is 17312. And likely it can be seen to move towards 17312 due to heavy Selling & Profit Booking.
5) No Heavy Profit booking done yet by FII's & DII's so we can see the change from that also.

Let's see what surprises Market has for us on Expiry Day.

*For educational purpose only