Will 20000 be breached?
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Another green week, closed positively and gained 435 pts with a good volume. Looks bullish. May be a new all time high…[ Read More ]…
Our view about last expiry:
NIFTY 50
Finally a green week, after a shooting star at the bottom, week had closed positively with a good volume.
On daily chart seems like it has broken a trend line resistance and a bullish marabuzo candle is formed. Looks Bullish.
NIFTY 50 looks like it is facing a rejection at 19500 level, formed a DOJI at the top confirmed by a bearish candle. It is in confused state.
RISK DISCLOSURE!!!
- 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
- On an average, loss makers registered net trading loss close to ₹ 50,000.
- Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
- Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
BANKNIFTY
BANKNIFTY 2 back back green weeks, right after forming a bottom. Looks Bullish.
On daily chart, it is taking support at 44000. Confirmed Bearish Harami has been nullified. Needs further confirmations for Bullish trade.
On hourly time frame, it facing a rejection from trend line resistance. It is time play cautiously.
The Market Traded – Will 20000 be breached?
NIFTY continued to move strongly ahead, despite, the confusion in the hourly chart. In daily was clear bullish.
BANKNIFTY also move strongly on bullish side, and is trading above 45000.
……
What does the technical say about next week, Will 20,000 be breached?
NIFTY 50
Another green week, closed positively and gained 435 pts with a good volume. Looks bullish. May be a new all time high.
On daily chart it made 6 consecutive bullish sessions. Looks very Bullish. Buy on dip, is the way to participate on NIFTY.
NIFTY 50, in hourly market is consolidating or forming a base at 19800 level. 20,000, is reacheable.
Important Levels:
- Resistance – 19900 – 20000
- Support – 19500 -19600
- No trading Zone – 19600 – 19700
BANKNIFTY
BANKNIFTY
3 Consecutive weeks closed strongly on bullish note. Looks very bullish.
On daily chart, it has broken out from the trend line resistance. Looks bullish and more upside is expected.
On hourly time frame, after a bullish move, it is forming a base at 45000-45200 level, more upside is expected. Buy on dip.
Important Levels:
- Resistance – 45500- 45700
- Support – 44900 – 45000
- No trading Zone – 45000 – 45200.
……
What does Data say, Will 20000 be breached?
FII & DII Activity
- FII Cash :: ▼ -₹224.2 C
- FII Futures :: ▲ +₹406.9 Cr
- DII Cash :: ▲ +₹1,150.1 Cr
Open Interest (OI)-
Max OI Calls:: 20000 , 0.86 Cr
Max OI Puts:: 19600 , 0.72 Cr
Note:: OI suggests key Support at 19600, and Resistance at 20000.
** Datas are only for NIFTY 50
PCR – 1.0 (-) Flat to Bullish
……
Market Sentiments
World Markets – World market traded mostly Positive.
GIFT NIFTY FUTURES – Closed around 19880 at 01:15am 08-09-2023
Events Upcoming
- 12 Sep Tue 05:30 PM Inflation Rate YoY AUG India 7.44%
- 12 Sep Tue 05:30 PM Industrial Production YoY JUL India 3.70%
- 13 Sep Wed 06:00 PM Inflation Rate YoY AUG USA 3.20%
- 14 Sep Thu 06:00 PM Retail Sales MoM AUG USA 0.70%
- 15 Sep Fri 06:45 PM Industrial Production YoY AUG USA -0.20%
- 19 Sep Tue 12:00 AM Market Holiday – Ganesh Chaturthi India
- 20 Sep Wed 11:30 PM Fed Interest Rate Decision USA 5.50%
……
Researched, Analyzed & Drafted by :- Pixarts.Trade #safebull
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Market opened flat as expected, and rallied some more points, allowing an exit for the put short due to short covering. Booked some profit. - “Wonderful Day & All well executed Trades”
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The above analysis is solely the opinion of the author, no way an assured tips/direction to trade, they are solely for educational purposes. Please do not trade with out a proper study and analysis, we will not be responsible for your loss. We are not SEBI registered.
#SafeBull, #pixarts.Trade