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