Nifty range setup for 4th Aug | Expecting a retest

2022年8月3日

Overall Structure : Uptrend
Index components : Bullish Neutral Correlation
FGI Sentiments : Low Risk - 73.69↓ Indian & 45↓ Global
Insider Data : Neutral, PCR: 1.03↓, IVP: 53↑, IV: 17.9↑, VIX: 18.45↑ (21/28)↓
↑Up : 17450, 17550, 17670. 17800, 17930.
↓Down : 17240, 17150, 17050, 16930, 16830.
Market Opening(*Expected): Gapup
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Nifty may move up towards 17500-17700 by the coming week after a retest. (Connect for more tips)
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
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.
(Data source21:00 IST)***