Market is oversold?? || Nifty Expiry Day analysis 05th OCT

5 ต.ค. 2023

Good Morning Traders,

Yeah Market is looking oversold, A bounce is possible in indian market, i mean a rally of 120-180 points is possible in Nifty. Nifty have formed a small candle on the daily timeframe with almost identical open and close and with long lower shadow. Technically this pattern indicates the formation of a Dogi or Hammer type candle pattern. Normally, the formation of such patterns after a reasonable decline or at the key supports signals a comeback of bulls from the lower levels. Any recovery above 19500, will take nifty towards 19625+.

Important levels for nifty:-

Support Zone 19300
Resistant Zone 19500

Buy above 19480 only if levels sustains at least for 30 mints.
Keep stop loss at 19392
Targets we can see in upside 19550/19625+

Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Thankyou.

5 ต.ค. 2023

บันทึก

Guy's let's take a trade in nifty
buy 19500 ce now at 69
keep stop loss at 39
targets will be 85/99/115++
Go with less qty
market is ready to go high from here
we can see nifty towards 19625+

5 ต.ค. 2023

บันทึก

Guy's take hero zero trade
with less qty only
Nifty 19550 ce
now at 14.5
keep stop loss at 6
targets 25/34/46++

just expecting some bounce back in it.

6 ต.ค. 2023

บันทึก

Guy's both stop loss got hit.