NIFTY50 20-09-2024 FRIDAY

20 Sep 2024

Pre-Open 25,525.95 110.15 (0.43 %) +++ momentum

Advances - 48
Declines - 1
Unchanged - 1

HDFCBANK 1,708.50 1,716.50 8.00 0.47 PCT
ICICIBANK 1,292.00 1,295.00 3.00 0.23 PCT
RELIANCE 2,939.35 2,948.00 8.65 0.29 PCT
INFY 1,894.20 1,905.00 10.80 0.57 PCT
BHARTIARTL 1,664.85 1,671.00 6.15 0.37 PCT
LT 3,683.70 3,700.00 16.30 0.44 PCT

SPOT 25525.45
RESISTANCE 25500 STRONG EOR Will be 25585
SUPPORT 25500 STRONG EOS will be 25449

Market to hover between these two points till This support or resistance or support is broken on the either sides which can be identified by :

R2 UPSIDE 25600 FOCUS ON Change in OI in these points if rises. Higher chance market upward
S2 DOWNSIDE 24400 on change in OI in these points. Market can move downward.

20 Sep 2024

Catatan

support moving upwards.

20 Sep 2024

Trading ditutup: target tercapai

Learning/ important observation For Today.


1. If pre-open Candle is more than 100 points. Expect one dip which will be the entry point at 09:30 am time. Post that period you will not able to catch. Hence, entry is must with stoploss at dip from EOS.
2. FIBONACCI should be drawn at the grey zone. As extremes can happen. Entry is must for direction at 09:30 am & to be held. Against the wind should be traded cautiously.
3. Big changes or reversals come between 1 pm to 2pm. Stay cautious and awake between these two timings. Suggestive exits before 1 pm. and wait reverse side entry.
4. if movement is high a straight dip can be expected at 12:30 pm to 1:30 pm at higher RSI zones. Similarly a pull back can be expected at 12:30 pm to 01:30 pm if bottom of RSI is achieved at 08-10 bps on RSI scale.
5. Post correction dip. Always wait for 40 RSI to Form. If it doesnt reverse from 40 RSI. Do not enter. one reversal may come at 40 rsi AGAIN. So entry should be done at death cross. above 40 RSI. 3 candle move of 15 min and holding at the money is the confirmation for entry again on the similar side.

90 RSI to be taken seriously.
40 RSI reversal to be taken seriously.
12:30 to 01:30 pm time should always be looked for entry and exit should be made before that.

Regards

Happy Charting.