21/09/2020 – Nifty Trade and Analysis

Pre Marker Report – Time – 7:07 AM

Disclaimer – Below are just my views. I can be wrong. I am asking no one to follow these. I am writing my views just for my own record. I am not responsible if anyone follow these and makes losses in the Stock Market.

  1. Right now, I am watching Asian Markets, they were positive.
  2. When coming to SGX Nifty it is mildly negative as of now.
  3. Today Nifty might open lower but it has more chances to take support at a level of 11480 and resistance at levels of 11510 to 11515
  4. If this resistance level breaks there is a high chance for Nifty to spike upwards.
  5. My only concern at this time is that Bank Nifty is dragging Nifty Downwards.

Time – 10:35AM

Trade Explanation

  1. Today market opened at 11503 which almost near to CPR level. I am expecting Nifty to move away from CPR.
  2. As I mentioned earlier about nifty support at 11480. I waited for it to reach that level.
  3. As soon as it touched 11480. I took a trade in between 11480 – 11485 and waited for it to reach the resistance 11515 and exited my trade. About the resistance also, I mentioned in the above pre-market report
Today’s Trade

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