NIFTY

 

Report Day: 12-Sep-24

Trading Day: 13-Sep-24

CASH MARKER:

FII-Net BUY = 7695.00 Cr.

DII-Net BUY= -1800.54 Cr.

INDEX FO DATA

                                FII Effective LONG =  31.05 %

                                PRO Effective LONG = (-12.34%)

                                Client Effective LONG= (-13.05%)

Interpretation of Data:

In cash Market FII has bought at significantly large quantity.

I personally feel that some news is already factored in to the market, this will confirmed after the 2 follow-up moves.

FII has strong effective long position, which refer, they will support to the market on the upside, and Client has short position, it refer counter part to FII.

Since PRO data is on SHORT side it refer that move will not be one sided, it will give small move and that correction and similarly followed moves on the upside.

Technical Analysis NIFTY

Nifty Closes in Green, with an strong breakout, this was the weekly expiry day, it refers that many short sellers were tarped

This closing is also a all-time highest closing ever and after the correction move. I personally feel that this may be start of another bullish move on daily chart, however the trend of NIFTY is in uptrend even in the correction.

Strong Support    =    24850 to 24900 

IF GAP UP (+80)

Gap up will make trader book profit, NIFTY may retrace, we may initiate buy around 25150 to 25200.

IF GAP DOWN (-80)

Gap down may create fear for long holder and greedy to missed out trader, this may generate some consolidation, therefor on gap down we may look for the price action..

IF OPEN FLAT (± 80) 

Flat Opening will make hold for the position holder, and invite for the new trader based on the price action, now in this case, let the NIFTY to make a range for at least 15 to 30 min than based on the price action we can initiate the position, since the bias is bullish, I personally look for bullish opportunity only.

Technical Analysis BANKNIFTY

Banknifty Closes in Green, with an strong breakout, out side the range of 50800 to 51650. 

This closing is also above the latest swing high, that is, after the corrected move. The trend of BANKNIFTY is in upside. 

Strong Support    =    51000 

IF GAP UP (+150)

Gap up will make trader book profit, we may initiate buy only after some retracement around 51475 to 51600.

IF GAP DOWN (-150)

Gap down may create fear for long holder, this may generate some correction, therefor on gap down we may look for the price action only. Look for range 51300 to 51400 to buy, but only based on the price action.

IF OPEN FLAT (± 150) 

Flat Opening will make hold for the position holder, and wait and watch situation to fresh trader. Now in this case, let the BANKNIFTY to make a range for at least +30 min than based on the price action we can initiate the position, since the bias is bullish, I personally look for bullish opportunity only.