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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.

With exact levels

Please remember its important to respect levels and book profit also in this market. No trade will work in one way.

Live.

Sell zone for Bank Nifty was 41200-41350 with approach of "Sell on rally". Today's high was 41293 and BNF down over 400 points from there. Magic of levels!!!!

Good mornning

THE BANK NIFTY CRISIS
Bank Nifty has now fallen 8% from highs
SBI is now down 17% from high, below 200 DMA
ICICI down 11% from highs, almost at 200 DMA
Nifty IT up 5% this month, up 20% from lows
Big question: How much more will Bank Nifty drag?

GLOBAL CUES: INDIA IMPACT
Big move happening in Bitcoin, almost at $25k
Last US bull run in equities was preceded by Bitcoin
Nasdaq’s behaviour today will be very crucial
If Nasdaq defends 20 DEMA, US mkt can resume rally
Indian IT stocks are now in a well defined “Buy on dips” mode
Nasdaq and Bitcoin resilient to recent surge in Bond yields

NIFTY OUTLOOK
Nifty tried to defend 20 DEMA in morning
Once 20 DEMA was gone, Nifty broke down
Alert: 20 DEMA at 17,888 and 20 DMA at 17,838
Only Nifty IT is preventing complete breakdown of Nifty
Next level to watch: 200 DEMA of 17,643
Market’s overall texture is now “Sell on rally”

BANK NIFTY OUTLOOK
Bank Nifty’s close was very bearish
Bank Nifty’s close just above Feb 2 close
40,300-40,500 last big support zone for Bank Nifty
Bank Nifty’s 200 DEMA at 40,100
Big worry is if Bank Nifty falls to 200 DMA of 39,100
Level based trading worked in Bank Nifty yesterday
Today, level trading will not work on Bank Nifty
Sell Bank Nifty on first sign of weakness
Keep stop loss of 100-150 points
Buying on Bank Nifty only above 41,500

Watch my special analysis on is PCR being managed?

All you need is one good trade. After that you should be sorted for the day.

No need to keep looking for more and more

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Live.

Good morning