Bank Nifty low today right at 37,950

Both the levels given were respected

The second dip is coming. This is very important. Lets see if bought or not

Enabling some reactions to messages on the channel

Hoping to get some good ones :)

Good morning friends. Stay tuned for trade setup

MIXED CUES
Dollar Index retreats from 52-w high, still elevated
Big question: Does DXY negate a double top?
Brent above $100
Back home, FII buying could help sentiment
Both Nifty and Bank Nifty bounced from 20 DMA

TRADE SETUP
SGX Nifty indicating a gap down again
Yesterday’s close strong, trend not negative yet
Nifty’s trend changes only on close below yesterday’s low
Yesterday’s low and 20 DMA zone of 17,345-17,385 sacrosanct
Index to watch from here is the Bank Nifty
Bank Nifty bounced from 20 DEMA yesterday
Bank Nifty managed to close at its 10 DEMA
If Bank Nifty turns in green, shorts will have to cover

Good morning.

EXPIRY DAY CUES
Nifty has dodged a bullet, 20 DMA holds
Dollar cools from possible double top of 109.2
Crude at $102, could act as spoiler
((SGX Nifty))

TRADE SETUP
Markets closed at highs for last 2 days
Nifty’s recent low of 17,345 now sacrosanct
Bank Nifty has got its mojo back over last 2 days
Nifty down almost 1% for week, Bank Nifty in green
Market’s overbought positions are now down drastically
Nifty’s RSI has cooled to 62 from 83
FII long exposure down to 45%, Put-call ratio below 1
If 17,345 holds, another excursion to 18,000 possible

Good morning

DATA VS PRICE ACTION
US Q2 GDP est revised to -0.6% from -0.9%
Fed chair likely to remain hawkish at Jackson Hole
US market surged to close at highest point
Nifty closed at lows, fell 200 points in last hour
((SGX Nifty))

TRADE SETUP
Big question: How much of decline was pure expiry play?
SGX Nifty indicating a big gap up once again
Yesterday’s high of 17,726 will be the first hurdle
Nifty’s big congestion zone will be in 17,800-18,000 zone
Nifty’s recent low of 17,345 remains sacrosanct
For today, big support at 20 DMA of 17,484
If 17,484 breaks then 20 DEMA of 17,390 next level
Bank Nifty remains stronger of the bigger indices
5 week series, may have lot of volatility
September and Oct months are known for huge gyrations

Weekend podcast

Good morning.

GM