Will The Volatility Continue???
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Finally a green week, after a shooting star at the bottom, week had closed positively with a good volume. ..[ Read More ]…
Our view about last expiry:
NIFTY 50
Another bearish week, now 5th consecutive weeks closed in red. And clearly a trend line resistance was respected. Interestingly it formed a shooting star at the bottom.
On daily chart, it failed in its attempt to break out the bearish trend line. Creates another new low and closed below 19300 level, which was crucial.
On the shorter time frame NIFTY 50, no signs of strength in NIFTY. Bothe in hourly & 30 mins time frame it is exhibiting bearish price action. And after a false break out , it is trading below the bearish trend line.
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 managed closed above last weeks high. And it formed a inverted hammer near the bottom. Showing signs of early recovery. Let’s see if 44000 level is protected in coming week.
On daily chart BANKNIFTY is holding barely above the bearish trend line. It will be interesting to see on Monday if it takes support here.
BANKNIFTY seems to be forming a base in hourly and 30 mins chart. Above 44300 level it can be bullish.
The Market Traded – And The Volatility Continued.
NIFTY remained high volatile, 19250 played as a crucial level, taken multiple support and remained range bound, and on Friday it closed above 19400.
BANKNIFTY also traded range bound with high volatility.
……
What does the technical say about next week, will the volatility continue?
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.
Important Levels:
- Resistance – 19500 – 19600
- Support – 19250 -19300
- No trading Zone – 19250 – 19350
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.
Important Levels:
- Resistance – 44600 – 44800
- Support – 44000 – 44200
- No trading Zone – 44000 – 44200.
……
What does Data say, Will the Volatility Continue?
FII & DII Activity
- FII Cash :: ▲ +₹487.9 C
- FII Futures :: ▲ +₹98.5 Cr
- DII Cash :: ▲ +₹2,294.9 Cr
Open Interest (OI)-
Max OI Calls:: 19600 , 0.72 Cr
Max OI Puts:: 19300 , 0.99 Cr
Note:: OI suggests key Support at 19300, and Resistance at 19600.
** Datas are only for NIFTY 50
PCR – 1.0 (-) Flat to Bullish
……
Market Sentiments
World Markets – World market traded MIXED.
GIFT NIFTY FUTURES – Closed around 19515.0 at 01:15am 01-09-2023
Events Upcoming
- 01 Sep Fri 06:00 PM Non Farm Payrolls AUG USA 187K
- 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
…..
Summary
NIFTY –
Important Levels:-
- Resistance – 19500 – 19600
- Support – 19250 -19300
BANKNIFTY –
Important Levels:-
- Resistance – 44600 – 44800
- Support – 44000 – 44200
World Markets – Traded MIXED
FII – Mildly Positive
DII – Positive
OI – Flat to Bullish
PCR – 1.0 , Bullish
GIFT NIFTY – Positive
VIX – 11.37
NOTEWORTHY:-
Points to remember on this upcoming week:-
- Bigger Trend is now on critical level.
- Dollar is rising.
- Yields are increasing.
Things to avoid:-
- Avoid aggressive buying or selling for now.
- Buy debit spreads to gain VEGA on fall.
- Avoid unnecessary risk now, it can go either way.
……
Researched, Analyzed & Drafted by :- Pixarts.Trade #safebull
CHECK OUT THESE POSTS!!…
- “Trailing Stop Loss, a way forward”
Initial trade in FINNIFTY stop loss got triggered then re-entered again, with defined risk, and trailed the trade to avoid getting loss and to close the day in green. - “Some move today in Indian Indices”
“Could not capitalize much as system trailing stop loss got triggered, next time better to trail manually- a valuable lesson learned.” - ” All about today, the trades, and the win”
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”
SHILLONG :: Following up with the trend since morning, VWAP in 15mins candle have dipped and Cumulative Delta divergence observed after 1st 15-mins candle(green) with negative Delta. - “An Intraday Close strangle- carried forward”
Market opened gap up but within the estimated range, and at around 9:30am when Vix was crushed, trade (Strangle) was exited…[..]
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