Nifty Levels & Strategy for 16/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty is slightly down by -126 points. Today, Nifty has broken down 18K level and could not close above the psychological level. PCR is down from 1.1 (buying zone) to 0.72 (bearish zone). Today’s positive opening has given chance to retail traders for booking profit. Later Nifty slipped below 18K level.
Highest open interest on call side at 18700 (Based on next weekly Sep, 22nd expiry data)
Highest open interest on put side at 16500 (Based on next weekly Sep, 22nd expiry data)
BANK NIFTY
Bank Nifty is down by -196 points. Today was a historical day when Bank Nifty touched new lifetime high. It was dream come true amid several global issues. Bank Nifty was pushed in red due to heavy profit booking & new short positions added by traders. PCR is shifted down from 1.62 (Overbought zone) to 0.87 (bearish zone).
Highest open interest on call side at 41500 (Based on next weekly Sep, 22nd expiry data)
Highest open interest on put side at 38500 (Based on next weekly Sep, 22nd expiry data)
Shall we again start looking for sell on rise opportunities ?????
1. till Nifty is below 18K
2. near major resistance levels
3. near high OI in CE strikes with strict stoploss?
Shall we look for buy on dips opportunity
1. near support level
2. high OI in PE strikes with strict SL?
What do you think? Please do share your comments. Let us work & win together.
Please do review
1. Global cues based on EOD data
2. FIIs/DIIs F&O data analysis prior to finalize your strategy/work plan for tomorrow
Have a very happy, healthy & profitable day ahead!
Zerodha
bank nifty tradeso in the early session, I made a 700 loss in nifty everything was going good just reliance fast breakout hit my stop-loss, then after 12 pm, I saw an excellent opportunity in banknifty there was a pattern formed inverse flag and pole so I took the entry to buy 1 lot size and made a good profit of 50 points, and exit then after 10 min I saw another opportunity again there was a pattern forming head & Shoulder I took and made again 48 point profit, with 20 points stop-loss in both trade, you can also check on-screen recording shared with this.
thank you.
RBL bank : Buy and Hold for months !!Hello friends, it takes hours to analysis charts bt likes take a second if you really like my ideas then like us and comment us for any queries.
If you are a CNC lover then you can invest in RBL, Now it's below the lower value and after continuously dropping and makes 0.618 fib level completed their 5 the wave.
Now its time to move toward control price Expecting good returns from it !!
All fib levels are targets
Thanks
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Buy setup M&M by elliote wave + price Action !!Hello, guys attention Please I didn't get enough likes.
Add some M&M in your portfolio you can see a good return in a few weeks,
Currently, it's riding on wave A which is a corrective wave and rejected by 0.318 fib level and now move toward control price expected to seen pullback from here!
If you need where to place stop loss then message me !
Thanks