#NIFTY Intraday Support and Resistance Levels -04/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 20280 level and then possible upside rally up to 20380 & This rally can extend another 100-120 points if market gives breakout of 20400 level in today's session. in case nifty trades below 20240 level then the downside target can go up to the 20120 level.
Niftyanalsis
#NIFTY Intraday Support and Resistance Levels - 30/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 20120 level and then possible upside rally up to 20240 in today's session. in case nifty trades below 20080 level then the downside target can go up to the 19960 level.
#NIFTY Intraday Support and Resistance Levels - 23/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19830 level and then possible upside rally up to 19950 in today's session. in case nifty trades below 19800 level then the downside target can go up to the 19680 level.
NSE:NIFTY Analysis/Prediction for tomorrow 18-10-2022NSE:NIFTY Analysis/Prediction for tomorrow
for Flat/Gap-Down opening
🟢 Buy CE above 17325
✔️ Target Should be 17425
🔴 Buy PE Below 16225
✔️ Target Should be 17150, 17050
for Gap-UP opening
🟢 Buy CE near 17310
✔️ Target Should be 17425, 17480
🔴 Avoid PE
Important Notes:
🚨 Gap-UP & Gap-Down more than 100 points wait for price action.
🚨 Gap-UP & Gap-Down up-to 60 points wait for a pullback.
⚠️ Wait for the 5-minute candle to close for confirmation.
⚠️ Trade Like Either SL or Target.
⚠️ Important: Always maintain your Risk & Reward Ratio.
Disclaimer:
I am not SEBI Registered Advisor.
My posts are purely for training and educational purposes.
Nifty Analysis/Prediction for Monday 23-05-2022NSE:NIFTY Analysis/Prediction for Monday 23-05-2022
For flat Opening
🟢 Buy CE, If price closes above 16300
👉 Target-1 should be 16400
👉 Target-2 should be 16600
🔴 Buy PE, if price closes Below 16070
👉 Target should be 15700
For Gap-Up Strategy
🟢 Buy CE, If price closes above 16400
👉 Target should be 16600
🔴 Buy PE, if price closes Below 16250
👉 Target should be 16110
For Gap-Down Strategy
🟢 Avoid CE
🔴 Buy PE Near 16050
👉 Target should be 15700
If price sustain below 15700 can see the fall till 15050.
Nifty 50 Updates for next weekWeek ahead
==============
Nifty 50 Index has been stuck in a sideways range over the last two weeks. Index is oscillating between 16,800 and 17,500 and the same levels are likely to remain crucial for the upcoming week. As discussed in our previous weekly analysis (April 24, 2022), Nifty 50 Index formed a double bottom at 16800 levels (Important support for the week – Half bat pattern) and then traded in the range over the week with high volatility. Index opened with gaps on all sessions with trending moves in both directions during last 2 sessions. While the market stayed largely flat on a week-on-week basis, volatility increased. India VIX rose 5.79 per cent to 19.42.
Lately on Friday, US markets witnessed another technology led sell off. India 50 USD / SGX Nifty Index ended significantly lower, and we are likely to open with a gap down on Monday.
On the news front, the global markets are set to react to the US Fed Reserve decision slated to come in the middle of the coming week. Index heavyweights like Reliance, HDFC and Kotak Mahindra Bank will be coming up with their results during the week. Outcome of these events could possibly establish a trend (in either direction) which has been missing since last two weeks.
Can the Index rise past 17,500 and reclaim 18,000 again? (XABCD will be activated above 17500) Or will it break below 16,800 and see a steeper fall towards 16200 levels? (ABCD pattern will get activated on breakdown of 16800 levels). Join us for more real-time updates.
Rebound from support for Nifty but we are not out of danger yetNifty after opening gap down got a good support around 16843 and ended around 0.67% in negative at 17092. Resistances on upper side are at 17124, 17353 before it reaches major resistance of 50 days EMA at 17445. On the lower side today’s low 16843 is a great support. Below 16843 the major supports will be near 16721 which is 200 days EMA and 16419. If Nifty goes below 16419 which is less likely but there can be major selling in case of further escalation of tensions between Russia, Ukraine and other EU nations in addition to US. In worst case scenario Nifty can test a major support near 15437. This will be only in worst case scenario. As of now Nifty closing above 17050 is a good sign.
We saw a Big indecisive Doji fluctuating with Geopolitical movesWhat we saw today in the market was volatility led by geo-political moves. Every positive news sent the Nifty up and negative news sent nifty down in a day full of fluctuating fortunes. Nifty index ended close to 70 points in negative but Mid-cap and small-cap index were bleeding with deep cuts as Mid cap index ended 1.24% negative, small cap index was hit worse and was seen reeling at 2.73% in negative. Worst might not be over yet as fear of massive war lingers on in Europe. What we can see tomorrow or the day after would be a dead cat bounce in these two indices where most investors will sell on rise.
What to do?
Select Fundamentally strong scripts where valuations are attractive, company is debt free and there is Zero or low promoter pledging and buy in SIP. Buy in Parts.
Levels to watch out for:
17071, 16925 on the lower side might support the Nifty.
17230, 17283 and 17353 will prove to be resistances.
Be very selective in selection of stock.
'Cash in hand' can also be an important position.
Nifty Trade setup for 25th Nov. 2021First of all, I want to apologize for not sharing any morning analysis from a couple of days. I have taken a small break from my morning activities because of some health issues. Let's talk about the market sentiment first. Today, I have shared two charts in the daily time frame and the second in the hourly time frame. Both show negative sentiment. I shared my long-term view on Twitter a week ago when the price was trading on 17,900, and given the first target is 17,300, and it's hit in a week now, we are heading at 16,650, but We need to wait for 17,000 to break.
Intraday for 25th Nov. Monthly Expiry
=================================
India USD and SGX both are trading on a negative note; the Current CMP is 17,369, 40-45 points below our market. A Flat or a small gap down is accepted.
Key Resistance is 17,600
Intraday Resistance is 17,500
Key support is 17,260
Intraday support is 17,370
Nifty 50 Intraday Trade Setup for 01st November 2021
Good Morning
I hope you guys had a great weekend
We were closed on Friday at 17,671, which was almost 1.04% negative from the previous trading session. The index looks weak here and can correct more in the upcoming days. FIIS profit booking is continuing, and this is the main reason for a current downfall. Over than 63,000 crores Cash out from the market, which is a considerable amount.
The main question is, what is our trade setup for today and in the upcoming days. Let's talk about the Important Levels.
Resistance 1 : 17,950
Key Resistance : 18,050 to 18,100
Key support : 17,650
Today Trade setup
===================
India usd and sgx nifty has recovered in the Friday trading session after our market and managed to close at 17,796, almost 100-120 points up from our market closing. A sign for an 80-100 points gaps up the opening. Market sentiment is negative,so you must be careful and prefer the range shift strategy (wait to break out for the first 30-45 Minutes range)
Nifty Update for 20th October 2021
NIFTY50 INDEX has given a non-stop rally from 8th October and made an All-Time High of 18,600, from where we have seen a selloff.
Bear Sentiment is on and it will continue if the low of 18,380 is broken.
High probability trade is on the short side as Index has formed a Harmonic Half Bat pattern and its neckline is placed at 18,380
Consider a short position below 18,380
Or short from 18,500 levels if we see a gap up opening in the Indian Indices.
18,480-18,520 is resistance and will act as a supply zone.
Trade setup
==============
Key RESISTANCE is: 18,500
Key SUPPORT is: 18,200
Trade Accordingly!
Nifty 50 Trade setup for 12th October 202Hope you guys have done well in yesterday's trading session. The index has breached their psychological resistance by 18,000 but failed to close above then it.
The market structure is bullish in the hourly time frame and making higher highs. Harmonic ABCD pattern has given a dot reversal in yesterday's trading session and this level is valid for today's trading session as well.
Build long position if the yesterday high of 18,050 broken for the target of 18,150 and 18,200.
Short Position can build lower than 17,900 for the targets of 17,850 and 17,800
Trade setup
==============
RANGE HIGH: 18,050
RANGE LOW: 17,900
Key support is: 17,800
Key Resistance is: 18,200
Trade Accordingly
Nifty Update for 11th October 2021 We are going to see a flat to positive opening in Indian Indices today.
NIFTY50 Index is trading at no trading range of 150 points.
17,800-17,950 is a no trading zone as Index will stay rangebound and will give indecisive moves when it is in the range.
Buy if the range high of 17,950 is broken but also keep in mind 18,000 is psychological level above it 18,050 and 18,100 is also possible.
For short, Consider it only below: 17,800 levels for the targets of 17,750 to 17,700
Trade setup
==============
RANGE HIGH: 17,950
RANGE LOW: 17,800
Key support is: 17,700
Key Resistance is: 18,000
Trade Accordingly!
Nifty 50 Intraday Trade Setup for 17th February 2021Good morning everyone,
Hope you guys are doing great in the stock market. Let's talk about our last idea based on harmonic. All targets achieved and we had seen a dot reversal from our harmonic PRZ in yesterday's trading session. Now the main question is the yesterday's negative sentiment will continue in today's trading session. As per technical, There is 2 majors level to watch in Intraday. 15,200 is Important support and 15,350 is an important resistance.
You know the levels now but it will not help until you have not proper mind setup and trading sense. What do I mean by trading sense. Let me explain
1- 24 hours left in the expiry
2- The index is still in the uptrend.
3-Yesterday sentiment is negative and it manages the call and put price
4-We are getting 150 point range which is big as per Intraday view.
Conclusion: A clear sign for a sideways market in today's trading session. The index will be trending only if these levels break in the first hour and sustained. so follow the levels strictly.
Nifty 50 Weekly View & Trade Setup for December 15Nifty Update
=====================
Index stuck in a range and the momentum is missing for a week. the higher level of this range is 13600 and the lower range is 13390
intraday you guys need to consider 13600 for your long position and 13470 for your short. you have only 70 point room on the downside
Nifty 50 weekly forecast & Intraday setup for 05th October 2020Hello friends,
Hope you guys have done good in the last week and made some good money from the trading. I had seen that lot of peoples want to trade in Nifty and Banknifty Index just because of the volatility. I do agree that Index always has an opportunity for a knowledgable trader but the worst part is Index momentum is very hard to predict in the Intraday and you must follow the discipline more than any analysis. September is always a nightmare for Nifty 50 as per the last 3 year data. very volatile as we had seen recently. Total 1800 Points movement we had seen in the September month which is shown how many indexes volatile these days. Let's Investigate what was happened in September month.
Before the September Index was so bullish and making higher high and breaking most of the resistance but we had given you 10,750 level for a correction. This level has come from the harmonic and worked very well. The index has given 1000 Point downside move and made a low 10,790. Tou can see our 31st august analysis on the trading view. We predicted most of the major moves. I am gonna update all, check bellow images
Updated chart :
Then we predicted an upside move.
Updated chart :
Our last idea has been shared on Thursday and we pick Inda 50 for this analysis because Nifty 50 has not enough data. Check bellow Image
Updated chart :
These all our Past analysis and we have just updated them for your study purpose so you can believe that swing trading is far better than Intraday ... Now the main question is what gonna happen in October first trading week. Let's talk about key factors first.
Key Factors
==============
1-The Govt announced the launch of an ambitious information technology project 'Sunidhi' to digitize all provident fund and pension related activities of the Coal Mines Provident Fund Organisation.
2-India posted a trade deficit of $2.91 billion in goods in September. Merchandise imports contracted 19.60% in September to $30.31 billion from a year ago while exports rose 5.27% to $27.40 billion.
3-Automobile manufacturers showed significant signs of recovery as they dispatched 13% more vehicles to dealers in September. Tractor sales also increased, indicating that a good monsoon is driving the rural economy
4-NBFCs pin hopes on festive season for revival in credit disbursals. The collection efficiency of non-banking lenders and housing finance companies picks up.
5-India registered 79,705 new Covid-19 cases, taking the tally to 6,471,734. With a high level of recoveries, India was maintaining its global position as the country with the highest number of recovered Covid-19 patients.
6- An effective vaccine is not likely to be available for the general public before the fall of 2021, according to experts working in the field of vaccine development.
7- India’s economy posted its worst slump in the three months ended June as disruptions caused by the Covid-19 outbreak brought Asia’s third-largest economy to a halt. Economists expect growth to shrink in the year through March 2021, in the first such contraction in more than four decades.
8-Bringing huge relief to individual and MSME borrowers, the Centre told the Supreme Court that it would waive interest on the repayment of loans of up to Rs 2 crore. The move will provide relief to individual borrowers MSMEs during the COVID-19 outbreak. The waiver on interest would apply, irrespective of whether the borrower has availed of the moratorium in the categories of loans specified by the Govt. The waiving off interest on loans to every category would amount to a burden of Rs 6 lakh crore for banks.
9- Indian rupee, Crude oil is stable.
Weekly Trade Setup
====================
Nifty is trading on a major resistance area (11,500) and a correction is accepted.11,200 is the support area. This 300 Point range will decide Nifty Movement for this and for this month so keep an eye on both levels and set up your trade according to it .
Intraday Trade Setup for 05th October 2020
===========================================
As per Sgx nifty, we are going to see a huge gap down again so most of the levels based on previous data is Invalid now. We need to set up a fresh trade today. I suggest Use 30 Minute candle high low set up your trade. Wait first 30 minutes. Go in long if a high break or short if low breaks . Use less exposure on the buying side.
Major Intraday Resistance is 11,456 and major Intraday support is 11,300.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade setup for 8th June 2020Good Morning sweet peoples,
NIfty was damn bullish since 28th may and give an awesome really in the upside, 1000 point is just 10 days. Question is Can we trust on this bull run or it's just a bull trap only for retail investors. Well, a downtrend has never ended in just 2-3 months. The average cycle of a downtrend is 9-10 months and we learn this from history. Nifty major supply zone is 10,400 to 10,550 and we must keep an eye on this level. Let's talk first about the key factors which can affect today's trade setup.
Key Factors
======================
1-Moody’s downgrading India’s rating recently, Any further downgrade will make India susceptible to flight of capital and leave its currency vulnerable.
2-India went past Italy to become the sixth worst-hit nation by the Covid-19 pandemic. India saw a record single-day jump of 10521 coronavirus cases and 297 deaths on Saturday, pushing the nationwide infection tally to 2,46,622 and the death toll to 6,646.
3-Banking system credit down almost 50% from a year ago, reflecting the impact of the nationwide lockdown imposed at the end of March.
4-The coronavirus pandemic, which has presented challenges for several nations, could be an opportunity for India to speed up the health insurance scheme Ayushman Bharat, especially with a focus on primary healthcare. Pharma sector is still bullish
5-SGX nifty has given a good really in upside on Friday after our market closed and made a new high 10352. Currently trading on 10234 which is still high and we are going to see a Gap Up Opening today.
6- US30 Aka Dow also made a new high in the last 2 trading sessions almost 1000 point rally.
7- Asian market also seems bullish.
8-Foreign institutional investors (FIIs) poured in Rs 13,927.52 crore in cash markets (equity) in the first week of June, which was higher than Rs 13,914.49 crore invested in the entire May.
Technical View
=======================
SGX Nifty
-------------------
Let's talk first about SGX nifty. Our Index has not much enough data because of limited trading sessions. SGX almost trading on its supply zone. look the Bellow picture
India 50
----------------
Nifty 50 Index
===================
Our Nifty Future trade in 2 places and I mentioned both of chart above. NIfty Major Resistance area is 10,420 to 10,550 and we must keep an eye on this level. The support zone is 9,602. The index is trading in an uptrend channel and the channel resistance area is also on 10,400 to 10,500.
Trade setup
====================
Due to a gap up opening, most of the levels are destroy here so we will our 15-minute range strategy for today's trade setup. Wait for a 15-minute mark high and low of the candle and set up your trade according to it.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 20th may 2020Good Morning Everyone.
Hope you guys doing good and making good money from the Market. Yesterday we have seen a short covering tho a gap up :P after that Index trade in a wide range. Upside Area is 9030 and down side level is 8855. Now question is what about today ? I think before the expiry we can see a choppy market about to manage the call and put price differences. Let's Talk about the key Factors.
Key Factor
================
1- SGX Trading 27 up from previous closing so we are gonna to see a flat Opening in nifty 50 Index.
2-Today is the 57 day of India’s nationwide lock down, meant to curb the novel corona virus pandemic. The lock down has been extended till May 31. Many restrictions have been eased, especially in non-containment zones, according to the new guidelines.
Confirmed COVID-19 cases in India stand at 1,01,139. The death toll from the outbreak in India is at 3,163. Maharashtra, Tamil Nadu, Gujarat and Delhi have reported the highest number of cases
3-On Tuesday, market participants seemed skeptical about the longevity of the up-move. Telecom, PSU, Auto and FMCG indices gained, while PSU Banks index fell, reflecting increased caution on asset quality after the government suspended the IBC mechanism for a year on Sunday.
4- Crude Oil is steady and Strong.
5-the Dow Jones Industrial Average was down 136.92 points
Technical View
=================
Resistance : NIfty break their key support on 18th May and give a good move in downside now this support role change and becoming a resistance in today Intraday. Nifty Major Resistance is still on 9900
Support : 8800 is the support level for Intraday and Key support is on 7670. which is come from Harmonic Pattern
Option chain data
========================
Call Option chain data : Maximum call OI of 14.95 lakh contracts was seen at 9,300 strike, which will act as crucial resistance in the May series.
This is followed by 9,000, which holds 12.89 lakh contracts, and 9,400 strikes, which has accumulated 9.95 lakh contracts.
Put Option chain data : Maximum put OI of 22.02 lakh contracts was seen at 9,000 strike, which will act as crucial support in the May series.
This is followed by 8,500, which holds 21.17 lakh contracts, and 8,800 strikes, which has accumulated 11.05 lakh contracts.
Max Pain level for weekly Expiry is : 9200
Trade Setup
==============
In Intraday you can build long above 8960 sl : 8900
Short Position is can build Lower then 8800 sl : 8880
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 19th may 2020Good Morning Everyone,
Hope you guys has made good money yesterday. Our sell level come in first 10 Minute and Index has given an awesome move in downside. Index down move more then 3.43% in a single day which can count huge dump in Intraday day. Now question is It will be continue today? Lets see what key Factor is going to affect to our Market.
Key Factors
==========
1- SGX is trading on 8969 which is above more then 183 Point up from previous closing.
2-Drugmaker Moderna Inc said its experimental COVID-19 vaccine showed promising results in a small early-stage trial.
3-Investors lost by Rs 3 lakh crore in terms of market capitalisation on the BSE. The average market capitalisation of the BSE-listed companies dropped from Rs 122.66 lakh crore on May 15 to Rs 119 lakh crore on May 18.
4-the stimulus package announced by the government was not seen as adequate considering the demand destruction in the economy, what really did maximum damage was the suspension of the bankruptcy norms for one year, which instantly multiplies the bogey of bad loans that the financial system is facing.
5: Banking Stocks Bleed As New Bankruptcy Cases Suspended For One Year
Banks shares slumped after the government on Sunday said insolvency proceedings against fresh defaulters would remain suspended for up to one year and Covid-19-related debt would be excluded from the definition of default.
6- Crude Oil is strong and giving a steady strength.
Technical View
==============
Resistance : Yesterday Nifty Break their key support ( 9000) and manage to sustain lower then it . We can see a short covering today and Index about to open gap up and this level is Important again but this time it will be a resistance Area in Intraday. Key Resistance is still on 9900
Support : Intraday support is on 8750 and key support is on 8200-8090 (As per Harmonic Prz ) .
Trade Setup
=================
Long : Long Position can build if Index sustain above 9050.
Short : Short is tricky and there is 2 Levels .
A : Index is about to open gap up and might be take their resistance on 9000. Risky Traders can short from top with a tight Stop Loss.
B: Second Sell Position if Break yesterday Low which is 8800
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 15th may 2020Good Morning Everyone,
Hope you guys has did good in yesterday trading session and made some good breads in Intraday. Index moves are hard to predict in these days because of massive gap up and gap down Opening.Government tries their best to not let the market down but Market sentiment rejected there every attempt. This lock down is not gonna ending soon and Industries take time to recover after it. Market is in fear and real picture will be come after the lock down. This recession is not going to end soon ..Let's Talk the key factors which can affect on our market.
Key Factors
==================
1- SGX showing a weak strength and trading on 9182 which is 64 Point up from the previous closing. aspect a 34-40 Point gap up in Nifty 50 Index.
2-The brokerage expects real GDP growth in 2020 to fall to 5 per cent YoY. It expects India’s GDP to expand 1.5 per cent in March quarter, degrow 14.5 per cent in June quarter, shrink 6 per cent in September quarter and another 1.5 per cent in December quarter.
3- DOW and US shares drop on US-China trade fears
4-Crude is still Trading in a narrow range.
5-INR/USD is still steady.
Quarterly results
==================
Cipla, Crompton Greaves Consumer and L&T Finance Holdings, Mahindra & Mahindra Financial Services, Nippon Life Asset Management, Tata Chemicals, L&T Technology Services, IIFL Securities: These companies are scheduled to announce their March quarter earnings on Friday
Technical View
====================
Bear is still on Fire and Market sentiment is Negative. Government tries their best to control this recessions but every attempt is rejected from the Market. Nifty is made again a Head and shoulder pattern in hourly time frame . Neck Line of this H&S pattern is 9000 which is also a key support in mid time frame . Mostly Intraday moves come with a Gap up and Gap down and these move destroy most of Intraday Levels.
Resistance : Nifty Intraday Resistance is on 9350-9360 and major resistance area is 9900.
Support : Nifty Intraday and Major Support is on 9,000.
Intraday Trade Setup
=====================
Long Position : In Intraday long position comes if Index break 9350 and sustain above on this Price.
Short Position : Keep an eye on 9000 A good short coming on breakdown.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty Expiry & Intraday Trade Setup for 14th May 2020Hello everyone,
Hope you guys didn't get Bored in this lock down and still making money from stock market. Nifty Move and momentum both is damn volatile in these day. Government tries their best to not let the market down but question is how long will they hold and in this negative sentiment and does 20 lac crore simulation package does the help market ? My thought is Current GEO political and Market scenario is not for Buying side. I am not talking about Intraday here. I am talking overall sentiment in the upcoming days so I suggest do not for Investment. Our Best time still to come and we need to wait for it patiently . Let's Talk about today and know how our market will be respond and what key factor, TEchnical we have for today Trading session.
Key Factors
=================
1- Nifty Open a good gap up on Wednesday Trading session but failed to hold 9600 Level.
2-The Finance Minister announced the first tranche of the mega stimulus package on May 13 and said that the remaining details of the Rs 20 lakh crore stimulus package will be disclosed in the next few days.
3-SGX Trading in Negative Note. Current Price is 9271 which is down more then 128 points from previous closing. Aspect a Gap down in Nifty 50 Index.
4-DOW still weak and slip more then 200 Points from Previous closing.
5-European market also weak and fallen on Wednesday Trading Session.
5- Crude oil Trading in a narrow Range but Yeah still steady.
Let's see how these factors will affect to our Market.
Technical View
==================
Would Like to talk first about SGX nifty. Check the bellow Image, Tried to explain on chart :P
On Wednesday NIfty formed a Bearish Belt hold candle and failed to hold the opening price and started to fallen from yesterday Opening . Nifty is still weak on chart and yesterday low is very important for us for today Intraday setup but also keep remember that today is Expiry day and options writers can manage the sentiment and the Market .
Support
============
NIfty Break their Intraday Resistance with gap up and close near about this resistance. Now this is support and a very Important price for Bear side Traders. Level is 9350 . Nifty key support is still on 9000
Resistance
===============
Nifty Intraday Resistance is above on 9470 and key resistance is still on 10,000
Option chain data
=================
As per Option chain data we are getting a huge range for today Trading session . Options data indicated Nifty’s immediate trading range between 9,000 and 9,700 levels. India VIX moved up 1.65 per cent to 38.83 level. Overall, higher volatility could continue to keep Nifty in a roller-coaster ride in a broader trading band.
Trade setup
===================
Long : Our Long position will be open if Index sustain above 9475 with 9380 Stop Loss (Closing basis)
Short : Our Short Position will be open lower then 9350 which seems to break with gap down so wait first 30 minute to see how the Market will be react .