NIFTY Pre-analysis:::::::::::: Overall Structure : Sideway Index components : Neutral Correlation FGI Sentiments : Negative- 19↓ Indian & 20↓ Global Insider Data : Neutral, PCR: 0.93↑, IVP: 60↑, IV: 19↑, VIX: 20.17↑ (34/39)↑ ↑Up : 17200, 17255, 17330, 17380, 17430. ↓Down : 17050, 16980, 16930, 16870, 16820. Market Opening(*Expected): Partial Gapdown/Flat Activity: Short Buildup/Short Covering for Volatile range Conclusion: From above the nutshell, Derivative data shows negative where other components are neutral. Suggesting to no trade until break triangle pattern(symmetrical). Noticed the rejection point at 17300 at 3rd upper resistance. It's indecisive to advice the trend direction until breakout but probability of upside breakout with a pullback. Trade wisely on volatile market and pick the directional trade. Have a Happy & Safe Trading! (Data source22:00 IST)*** ~~~~~~~~~~~~~~~~~~~~~~~~~ ***Note: Identify the B/S zone, Follow the trend direction with strong confirmation. Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes. Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data. We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
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