It's already played out though 🙏

Both Nifty and Bank Nifty approaching profit booking zone for agressive trades

Both swings have played out today. First on downside and now on upside and exactly from same levels.

Hope people had good trades

Good morning.

I am on leave today so you won’t see me on tv.

EQUITIES VS MONEY MARKET: WHO IS RIGHT?
US Bond yields surge further to 3.8
US equities continue to rally, especially Nasdaq
Nifty managed to close above 18,000
Nifty IT is now in a very strong uptrend
Reliance + IT led in first half, Banks joined in second
MSCI postpones Adani weight cut decision
Big question: Can the market now make new highs?

GLOBAL CUES: INDIA IMPACT
Nasdaq on verge of negating double top again
Nifty IT is now leading the charge for bulls
((Show Nifty IT 6 month chart))
Roku surges 11% after reporting loss of $1.70/sh vs est of $1.72/sh
New age stocks are now going to lead for near future

NIFTY OUTLOOK
Nifty now trading above all major moving averages
Existing longs should now keep stop loss at 50 DEMA of 17,935
Fresh buy zone at 17,950-17,975
New longs should keep 20 DEMA of 17,871 as stop loss
Profit booking zone for Nifty at 18,118
Fresh selling zone at 18,100-18,130, stop loss: 18,150

BANK NIFTY OUTLOOK
Level to watch: 50 DEMA of 41,811
If Bank Nifty trades above 41,811 can see short covering
All short trades must keep tight stop loss of 42,000
Need to see SBI’s behaviour today
A sharp 3 pm move is possible today in Bank Nifty

good morning

Nifty profit booking was suggested at 18,118 with selling at 18130 and stop of 18,150. Today

Today high 18134

GM

THE NAME IS BOND!
US bond yield surges further to 3.88
Equities were ignoring Bond mkt so far
Equities fall in line with bonds, rate hike fears back
Big question: Will Indian market see “Buy on dips”?
Nifty still not decisively out of the bearish channel
Market’s texture will depend on how IT stocks behave

GLOBAL CUES: INDIA IMPACT
Need to watch Nasdaq’s move from here
Nasdaq will give first signs of fresh move
Nasdaq still comfortably above 20 and 50 DEMA
Nifty IT likely to lead decline in first hour
Any sign of recovery will be first seen in Nifty IT

NIFTY OUTLOOK
Profit booking zone for shorts: 17,950-17,975 ((Yesterday’s but zone))
First support for Nifty: 50 DEMA of 17,939
Major support for Nifty: 20 DEMA of 17,885
Buying close to 50 DEMA with 20 DEMA as stop may work
Need to see stability in Nifty IT before buying
Stability in Nifty IT will be first sign of buying
Buy zone for Nifty: 17900-17950
Stop loss for longs: 17,875
Sell zone for Nifty: 18,075-18,100, stop loss: 18,150

BANK NIFTY OUTLOOK
Bank Nifty rejected 50 DEMA of 41,800
Bank Nifty closed just above 20 DEMA of 41,600
Bank Nifty has been the weak pocket of market
“Sell on rally” is working in Bank Nifty
Bank Nifty can now slip to 100 DEMA of 41,200

41,200 is almost here on Bank Nifty

Live.

Good morning

EXPIRY WEEK
Nifty fell 200 points from Thursday highs
Nifty is now back in the range
Need to see how Nifty IT moves today
Nasdaq below 10 DEMA but above 20 DEMA
Nifty IT still 250 points above 10 DEMA
Bank Nifty remains the weakest link for market
Some decline in US bond yield, US mkt closed today

GLOBAL CUES: INDIA IMPACT
Nasdaq in red but closed near day high after recovery
Nasdaq’s low on Friday exactly at 20 DEMA of 11,674
Nasdaq has been successfully defending 20 DEMA
Need to see if Nasdaq can climb back above 10 DEMA of 11,850
Nifty IT closed at 31,054, current 10 DEMA at 30,786
20 DEMA for Nifty IT placed at 30,389
As long as Nifty IT defends 20 DEMA, uptrend intact

NIFTY OUTLOOK
Nifty’s Friday low was exactly at 20 DEMA
Nifty closed Friday’s session at 50 DEMA
Strategy: Buying near 50 DEMA with 20 DEMA as stop
Buy zone: 17,925-17,975, stop loss at 17,875
Profit booking zone: 18,025-18,050
Fresh sell zone: 18,025-18,075, stop loss: 18,100
If 20 DEMA breaks decisively, market will become weak
Bank Nifty remains the problem point for market

BANK NIFTY OUTLOOK
Bank Nifty below 10, 20, 50 and 100 DEMA
200 DEMA placed 1000 points lower at 40,100
Bank Nifty has been consistently “Sell on rally”
Sell on rally with 10 DEMA as stop loss
Sell zone at 41,200-41,350, stop loss at 41,450
No buy trade till Index sustains above 20 DEMA of 41,575
41,575 also stop loss on closing basis for positional shorts

Trade setup has played out beautifully on Nifty and Nifty IT so far.