Intraday study for Indian indices for 3rs October 2022
HI good morning
As wee see a huge rally after crossing 16950-17000 zone we see the level of 17190+ and in the closing i highlighted that the markets are in overbought zone at intraday timeframe please book profits and shifted towards IT and as today the bank nifty is down by 200++ points and are more weak then NIFTY but the IT index is not showing the too deep cuts even after nasdaq fall because on friday we close above the major CE writer zone so the short covering comes in IT along with the new longs MY top pics are INFY HCL tech in CNXIT and the FMCG McDowell -N looks good the Sun Pharma looks good and we dont forget the Reliance And also keep an eye on NBFC along with CNXFINANCE and PSUBANK after some consolidation move in the opening we may see a upmove the support is at 16950-17000 at nifty and 38000-38300 on bank nifty
Watch carefully and see the study in detail
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
As wee see a huge rally after crossing 16950-17000 zone we see the level of 17190+ and in the closing i highlighted that the markets are in overbought zone at intraday timeframe please book profits and shifted towards IT and as today the bank nifty is down by 200++ points and are more weak then NIFTY but the IT index is not showing the too deep cuts even after nasdaq fall because on friday we close above the major CE writer zone so the short covering comes in IT along with the new longs MY top pics are INFY HCL tech in CNXIT and the FMCG McDowell -N looks good the Sun Pharma looks good and we dont forget the Reliance And also keep an eye on NBFC along with CNXFINANCE and PSUBANK after some consolidation move in the opening we may see a upmove the support is at 16950-17000 at nifty and 38000-38300 on bank nifty
Watch carefully and see the study in detail
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
Comment:
as soon as market and the INFY and The INFY CE of 1460 crosses its high/open then wee see a huge up move in all
Comment:
VIX 7 % up Cautious Ahead
Comment:
INFY FUT at bounce back level ---------1377
Comment:
see the force in IT and bank nifty is lagging behind as i shared with you all and also if INFY crosses 1411 then a big up move the huge short covering now legging behind because of long build up but the CE writing at 1400 which as OI of almost 15% change today
Comment:
the data of indices is negative the 17100 CE has most OI build u which act as resistance the 16900 is a strong support 17050 is a major indicating zone of the trend the movement of market as per current data or the data change sand the 17000 is a decisive level of the data to breach go go towards 16925
