Daily Time frame Analysis
- Today Nifty 50, the benchmark Indices closed at 15108.10(+184.95) (+1.24%)
- After the Gap Up session market was able to hold the gains in a narrow range.
- Nifty upheld the crucial market zone.
- Despite having a strong momentum, the volatility was absent from the past two session indicating the aggression of bulls.
- A Breakaway Gap was noticed after the significant falling channel in daily timeframe- the buying sentiments may continue further, however we may witness breather.
- RSI Momentum indicator indicates the strength to continue in coming sessions.
- The auto sector was one of the major performer in today’s market session. A broad-base rally was seen in all sectors.
- The range were bulls may dominate will be 15000 -15250. The daily closings must not violate this support zone for the uptrend continuation.
- FIIs Derivative data indicates LONG buildup in indices and continue the trend further. According to options chain writing was seen broadly across the slightly OTM strike-prices in both options indicating the volatility may be capped for the weekly expiry.
- 14900PE & 15000PE witnessed a huge writing indicating the downside is capped with addition of 1693200 & 2585700 OI. Short covering on 15000CE with more than 16lac OI indicates the same.
- Call writing was seen on 15300CE, 15350CE with more than 10lac OI indicating the strong resistance.
Hourly Time frame Analysis
- Applying 20Day Moving Average in hourly time frame we can see a strong Pull-Back after testing the mean reversion around 14600-14650.
- Considering the historical analysis on 15th & 16th March the bulls tried to build the final attempt to hold the 15000 mark after falling around 14800 crucial support zone. (As shown in the chart). Now this levels will be vital for the continuation of the uptrend.
- The strong closing above these levels hints the Bulls made a comeback after a long time.
- RSI momentum indicator is overstretched in hourly time frame which suggests the bulls may lose grip around the levels of 40-60 before continuing the uptrend. (slight profit booking or consolidation evident around higher levels 15250-15350)
- Despite having a strong momentum in hourly time frame, a minor correction may be possible around the levels of 14920-15030 after which the up move may continue.
IMPORTANT LEVELS TO WATCH FOR INTRADAY AND SWING TRADING
14840 – 14920 – 15030 – 15150 – 15240 – 15320
Finwings stock trading academy is one of the best stock trading academies in India providing crash courses, short term courses and medium-term courses focusing on those who wants to be a trader or invest in the Indian stock market. We offer career-oriented courses like ;a part of BFSI, NSE courses, SEBI courses and BSE certification courses which are considered principle series to excel your career in the financial market. We offer both online as well as offline lectures.
We are here to train the individuals from basic to the advanced level along with necessary theoretical and practical knowledge. We conduct various tests and virtual analysis to measure the performance of our students.
Apart from the training-related trading and investment, our academy provides different financial services to retail traders seeking to generate consistent profit from the stock market.
Why FINWINGS Stock Trading Academy?
- We provide our software for linking ALGO trading to your De-mat account.
- We have our own self developed and back-tested strategies for different segments.
- Anyone can create their own trading strategy on our platform with easy comprehension.
- Fully risk managed strategies with lowest slippage in the market.
- Low Fixed-Cost trading setup for small traders – No profit sharing to us.
- Full life-time backhand support to our clients.