NIFTY ANALYSIS FOR 8th SEPT 2023

 RECAP OF 8TH ANALYSIS AND TRADE:

Nifty supported @ 19550 ( price action levels) & crossed cluster resistance levels @ 19637 and rallied up to 19737. 

Trades taken:

Bought 19550 call and 19600 call on 15 min close above 19637 and squared off Intraday - very good trade done.

NIFTY ANALYSIS FOR 9TH SEPT:

Prev Day

HIGH - 19737

LOW - 19550

CLOSE - 19727

Nifty just crossed the 61.8% fibo ratio @ 19697. A pause likely at golden ratio. A move past 19740 - will target the next swing high of 19798 - 19825 - corresponding to 78.2% fibo ratio and the Channel resistance.

INTRADAY LEVELS:

BULLISH ABOVE 19740 - towards 19798-19825

BEARISH below 19690 -19640 (50% retr of 19550 - 19737) -19605

PRICE ACTION LEVELS:

19740

19690

19640

19605