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Nifty Market Analysis and Trading Strategies
Jul 30, 2024
Post Market Analysis - Nifty
Pre-Opening Data
Nifty opened ₹2 up in pre-opening
Support: At 25000, Resistance: Between 24500 and 25000, a range of 500 points
Correction in the initial candles expected
Trade Status
Correction in the first candle: 4 points loss or 10 points target
9:30 AM: Support at 24800, Resistance up to 25000
Market Patterns
Indication of bullish and flat conditions
Need to draw resistance and support lines at 950
Decisions on call and put based on percentage and volume
10 AM to 10:45 AM Data
Shifting of support and resistance
Relevant data: 850 strike price
Trade decision: Close at a slight loss or exit in profit
Market's Next Move
Resistance at 25000 and shifting
10:45 AM: Bullish and flat condition, call not safe
12 PM Data
Focus on volume and OI change
Decision to take call or put at 950 resistance and 900 support
Trading Conclusion
No trade after 2:30 PM
Market movement from 900 support and 950 resistance
Exit in profit at the right time and manage risk
Closing
Throughout the day, a significant trade and movement in Nifty
Conclusion of trading decisions based on proper trade and movement
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