- Inflation data creates volatility in US markets.
- US markets closed higher with some volatility. ✅
- Asian markets are in green. ✅
- SGX Nifty is slightly down. ❌
SGX NIfty indicates almost flat opening. The markets are opening in congestion zone, therefore any strong closing bars might be false signal bar as it often happens in range-bound market.
Intraday Trade Setups
- Both Nifty and Bank-Nifty both opened gap-up of 0.3% and 0.2%, respectively.
- At 11:10 am, nifty broke below a falling-wedge/ triangle pattern.
- At 11:35 am, bank-nifty broke below its intraday low with an extended bar.
- At 12:10 pm, nifty after giving a strong breakout bar to the downside immediately rose up, creating a bullish hammer in 15 min timeframe.
- At 12:35 pm, in bank-nifty, the previous low of the day now turned support, price bounced from it breaking the high of the previous red bar.
- Nifty FMCG was the only gainer.
- Almost all other sectors ended in red with Nifty AUTO being the lagger.
- ASIANPAINT was the top gainer in Nifty 50 with 8.44% gain.
- TATASTEEL was the top loser in Nifty 50 ending at -4.43%.
- Nifty 50 advances: 15
- Nifty 50 declines: 34
Trade Plan for Next Session:
- Today both the markets were trading range days with trending swings in between.
- Today, FIIs were net sellers for 2607 crores while DIIs were net sellers for 613 crores.
- Markets are in down-trending channel.
- If market opens gap-up, markets may be range-bound.
- If its opens flat or gap-down, markets my again trend lower.