01OCT2021

1 oct. 2021

Indian Indices Last Session:
🔴 #Nifty in a volatile session closed lower by 0.5%; near the most crucial polarity support of 17619. Make or break.
🟠 #BankNifty opened flat but seen sustained selling. Towards end it took support near make or break support of 37373.
🔴 FII's were net seller of 7000cr+ for third day in a row. Have not considered the option figures as its for hedging.

Global markets (Last Session):
🔴 US markets opened strongly but seen sustained selling & closed near the lowest point of the day paring the gains.
🔴 European markets had a very strong gap up opening but pared the losses in second half closing lower by 0.35-0.60%.
🔴 US 10YR bond yield fell 0.11% to 1.48. DXY fell to 94.23 mark. Precious metals had some recovery. Signs of cooloff.
🔴 Dow/Nasdaq/S&P500 have made InvertedHeadAndShouldlers pattern on daily scale and trading near the neckline support.

Global markets (Morning Cues):
🔴 Asian markets are trading lower. SGX Nifty trading lower indicating a gapdown opening in Indian benchmark indices
🟠 US & Europe futures trading lower by nearly 0.35-0.85%. Crude/DXY/US Bond yield cooling off. Overall cues negative.

News And Additional Data:
🔴 US & European markets have corrected more than 5% from their top in fear of proposed tax rate & interest rate hike.
🔴 Indian markets has complete disconnect with global markets & trading strongly of its own. But it may not last #Long.
🔴 Imported global cues could put some pressure on the bulls. October historically is a good month. Lets see this time.

Nifty 50 Technicals:
🟡 Momentum indicators RSIStairs continues to remain overbought in Nifty D(63.00), W(75.09), M(79.14) and ADX D(42.85)
🟢 #Nifty trading above SuperTrend(10,2) and all the major moving averages in D/W time frame. 20 DEMA placed at 17477
🔴 #Nifty formed an #InvertedCupAndHolder pattern in 75M TF. On weekly charts it has formed #DarkClooudCover pattern.
🔴 On daily charts #Nifty broken lower trendline support of rising channel. On 2D charts it has formed #EveningStar.
🔴 Historically 80 RSI in weekly/monthly has brought correction. Weakening global cues may bring this correction now.

Intraday Index Futures Levels
🔴 #Nifty50 17275/17337/17439/17485-17666/17777/17821/17886. RDX Score- 15M(-4*)/75M(-1*)/1D(4*)/1W(7*) #Bearish
🟠 #BankNifty 36589/36751/36985/37275-37571/37729/37917/38064. RDX Score- 15M(1*)/75M(3*)/1D(4*)/1W(6*) #Bearish
#MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis)

Intraday Index Trade Plan
🔴 #Nifty trading & sustaining below 17578 15 MCB will extend the weakness. Bullish only above 17800 on HCB else avoid.
🟠 In case #Nifty opens near 17400 odd levels then will take an contrarian #Long near 17375 for a target of 17500/17550.
🔴 Avoid shorts in case of a big gap down. Allow market to settle and come up. When it shows weakness then enter shorts.
🔴 #BankNifty below 37275 15MCB can see further selling. it has taken support 3-4 times near 37375. This time can break.
🟡 Remember if a level is tested multiple times then relevance of the level goes. Next attempt most likely breaks it.

1 oct. 2021

Note

Standard Disclaimer:

All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members/followers learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max us e it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

🟠🟠🟠 Important Points To Remember: While trading never risk more than 1% capital per trade. While trading FnO always trade using risk defined strategies. NSE derivatives are leveraged 6-8x that means 12-15% move against you can wipe out your whole capital if the risk/money management is not proper. And stocks can easily move 10-12% due to some news. Before entering any trade see if the R:R is favorable or not.