RECAP & TRADES OF 6TH SEPT:
Nifty resisted at 19600 - and made a low of 16502. Supported @ 19490-500 levels breakout above 19530 a swift move towards 19600 ++ As per price action
Trades :
BOUGHT 19600 PE @ 70 & squared off @ 110 - One good trade DONE
Bought a 19450 CE @ 72 and squared off @ 106... Another good trade.
NIFTY ANALYSIS FOR 7th SEPT:
Prev Day:
LOW - 19491
CLOSE - 19611
OUTSIDE CANDLE FORMED
CLUSTER RESISTANCE @ 19630 LEVELS.
50% RETR OF 19991 -19223 REACHED -19610 LEVELS
A RISING WEDGE PATTERN IS SEEN
GAP RESISTANCE @ 19680 -19700 - @ 61.8% FIBO LEVELS
INTRADAY LEVELS:
BULLISH : Above19630 - 19680 -19710 - (filling of gap)
BEARISH : Below 19630 - 19540 (rising wedge support) -19510 -19500
PRICE ACTION LEVELS: WIDE RANGE - implies high volatility expiry
19630
19540
19490
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