NIFTY analogy for Oct 27th-3rd Nov : Slow & positive momentum
NIFTY Pre-analysis::::::::::::
Overall Structure : Uptrend
Index components : Positive Neutral Correlation
FGI Sentiments : Bullish; Indian 45↑ & Global 58↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.04↓, IVP: 10↑, IV: 14↑ (Low), VIX: 17↓ (27/33)↓
↑Upper Level : 17780, 17820, 17870, 17920, 17970.
↓Lower Level : 17720, 17670, 17620, 17570, 17520.
Market Opening(*Expected): Huge Gapup
Activity: Short Buildup/Short Covering
Conclusion: From above the nutshell, Showing Derivative data was positive where other components are neutral as compared to overall sentiments. As per Global data indicates Strong Bullish against Asian data. Observed Bearish engulfing in Nifty. That's sign of slow and positive momentum.
Hence, the Market might open above 1.5% gapup near 17850 upper level and turn down to retest/take support at 17700 key level.
In Other term, If market breaks down below 17700, then probability of fall towards 17500-17300 level by coming week.
Have a Happy & Safe Trading!
(Data source10:00 IST)***
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
Overall Structure : Uptrend
Index components : Positive Neutral Correlation
FGI Sentiments : Bullish; Indian 45↑ & Global 58↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.04↓, IVP: 10↑, IV: 14↑ (Low), VIX: 17↓ (27/33)↓
↑Upper Level : 17780, 17820, 17870, 17920, 17970.
↓Lower Level : 17720, 17670, 17620, 17570, 17520.
Market Opening(*Expected): Huge Gapup
Activity: Short Buildup/Short Covering
Conclusion: From above the nutshell, Showing Derivative data was positive where other components are neutral as compared to overall sentiments. As per Global data indicates Strong Bullish against Asian data. Observed Bearish engulfing in Nifty. That's sign of slow and positive momentum.
Hence, the Market might open above 1.5% gapup near 17850 upper level and turn down to retest/take support at 17700 key level.
In Other term, If market breaks down below 17700, then probability of fall towards 17500-17300 level by coming week.
Have a Happy & Safe Trading!
(Data source10:00 IST)***
___________________________________
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
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