Market Analysis of 13th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Nifty and Bank Nifty which started with big falls in the early morning session recovered during the day. Nifty in fact recovered dramatically from day’s low (17269.15) by 87.55 points. It closed practically flat by closing time.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. Calculating a three-day average in the derivative segment, we find that FIIs are neutral while DIIs continue to hold bearish positions. We can observe that FIIs have reduced their positions in Index Futures and Index Calls.
Looking at the Option Chain we find heavy Call Writing @ 17400 and @ 36500 in Nifty and Bank Nifty. This is a bearish sentiment.IndiaVix has risen by 0.59% .
Trade Recommendations for 13th -17th Sep. 2021:
1. Adani Transmission (1871.40): Bullish. RSI >80.This is overbought condition. Those in profit can offload 50% position.
2. Procter & Gamble (141202.90): Bullish. Price action doesn’t recommend any new trades.
3. ICICI PRU LIFE INSURANCE (693.40): Bullish. Safe Traders can exit. Risky Traders can hold the trade.
All Calls are for Short Term Trading and valid between 06th – 10th September 2021.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. Calculating a three-day average in the derivative segment, we find that FIIs are neutral while DIIs continue to hold bearish positions. We can observe that FIIs have reduced their positions in Index Futures and Index Calls.
Looking at the Option Chain we find heavy Call Writing @ 17400 and @ 36500 in Nifty and Bank Nifty. This is a bearish sentiment.IndiaVix has risen by 0.59% .
Trade Recommendations for 13th -17th Sep. 2021:
1. Adani Transmission (1871.40): Bullish. RSI >80.This is overbought condition. Those in profit can offload 50% position.
2. Procter & Gamble (141202.90): Bullish. Price action doesn’t recommend any new trades.
3. ICICI PRU LIFE INSURANCE (693.40): Bullish. Safe Traders can exit. Risky Traders can hold the trade.
All Calls are for Short Term Trading and valid between 06th – 10th September 2021.