Nifty Expiry & Intraday Trade Setup for 14th May 2020
Hello everyone,
Hope you guys didn't get Bored in this lock down and still making money from stock market. Nifty Move and momentum both is damn volatile in these day. Government tries their best to not let the market down but question is how long will they hold and in this negative sentiment and does 20 lac crore simulation package does the help market ? My thought is Current GEO political and Market scenario is not for Buying side. I am not talking about Intraday here. I am talking overall sentiment in the upcoming days so I suggest do not for Investment. Our Best time still to come and we need to wait for it patiently . Let's Talk about today and know how our market will be respond and what key factor, TEchnical we have for today Trading session.
Key Factors
=================
1- Nifty Open a good gap up on Wednesday Trading session but failed to hold 9600 Level.
2-The Finance Minister announced the first tranche of the mega stimulus package on May 13 and said that the remaining details of the Rs 20 lakh crore stimulus package will be disclosed in the next few days.
3-SGX Trading in Negative Note. Current Price is 9271 which is down more then 128 points from previous closing. Aspect a Gap down in Nifty 50 Index.
4-DOW still weak and slip more then 200 Points from Previous closing.
5-European market also weak and fallen on Wednesday Trading Session.
5- Crude oil Trading in a narrow Range but Yeah still steady.
Let's see how these factors will affect to our Market.
Technical View
==================
Would Like to talk first about SGX nifty. Check the bellow Image, Tried to explain on chart :P
On Wednesday NIfty formed a Bearish Belt hold candle and failed to hold the opening price and started to fallen from yesterday Opening . Nifty is still weak on chart and yesterday low is very important for us for today Intraday setup but also keep remember that today is Expiry day and options writers can manage the sentiment and the Market .
Support
============
NIfty Break their Intraday Resistance with gap up and close near about this resistance. Now this is support and a very Important price for Bear side Traders. Level is 9350 . Nifty key support is still on 9000
Resistance
===============
Nifty Intraday Resistance is above on 9470 and key resistance is still on 10,000
Option chain data
=================
As per Option chain data we are getting a huge range for today Trading session . Options data indicated Nifty’s immediate trading range between 9,000 and 9,700 levels. India VIX moved up 1.65 per cent to 38.83 level. Overall, higher volatility could continue to keep Nifty in a roller-coaster ride in a broader trading band.
Trade setup
===================
Long : Our Long position will be open if Index sustain above 9475 with 9380 Stop Loss (Closing basis)
Short : Our Short Position will be open lower then 9350 which seems to break with gap down so wait first 30 minute to see how the Market will be react .
Hope you guys didn't get Bored in this lock down and still making money from stock market. Nifty Move and momentum both is damn volatile in these day. Government tries their best to not let the market down but question is how long will they hold and in this negative sentiment and does 20 lac crore simulation package does the help market ? My thought is Current GEO political and Market scenario is not for Buying side. I am not talking about Intraday here. I am talking overall sentiment in the upcoming days so I suggest do not for Investment. Our Best time still to come and we need to wait for it patiently . Let's Talk about today and know how our market will be respond and what key factor, TEchnical we have for today Trading session.
Key Factors
=================
1- Nifty Open a good gap up on Wednesday Trading session but failed to hold 9600 Level.
2-The Finance Minister announced the first tranche of the mega stimulus package on May 13 and said that the remaining details of the Rs 20 lakh crore stimulus package will be disclosed in the next few days.
3-SGX Trading in Negative Note. Current Price is 9271 which is down more then 128 points from previous closing. Aspect a Gap down in Nifty 50 Index.
4-DOW still weak and slip more then 200 Points from Previous closing.
5-European market also weak and fallen on Wednesday Trading Session.
5- Crude oil Trading in a narrow Range but Yeah still steady.
Let's see how these factors will affect to our Market.
Technical View
==================
Would Like to talk first about SGX nifty. Check the bellow Image, Tried to explain on chart :P
On Wednesday NIfty formed a Bearish Belt hold candle and failed to hold the opening price and started to fallen from yesterday Opening . Nifty is still weak on chart and yesterday low is very important for us for today Intraday setup but also keep remember that today is Expiry day and options writers can manage the sentiment and the Market .
Support
============
NIfty Break their Intraday Resistance with gap up and close near about this resistance. Now this is support and a very Important price for Bear side Traders. Level is 9350 . Nifty key support is still on 9000
Resistance
===============
Nifty Intraday Resistance is above on 9470 and key resistance is still on 10,000
Option chain data
=================
As per Option chain data we are getting a huge range for today Trading session . Options data indicated Nifty’s immediate trading range between 9,000 and 9,700 levels. India VIX moved up 1.65 per cent to 38.83 level. Overall, higher volatility could continue to keep Nifty in a roller-coaster ride in a broader trading band.
Trade setup
===================
Long : Our Long position will be open if Index sustain above 9475 with 9380 Stop Loss (Closing basis)
Short : Our Short Position will be open lower then 9350 which seems to break with gap down so wait first 30 minute to see how the Market will be react .
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