Market Analysis of 9th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Market again played ping pong with market participants. Nifty after falling in the early session , saw see-saw action and post lunch closed flat. Bank Nifty on the other hand remained negative throughout and closed with negative bias. As predicted Nifty closed below 17400 and Bank Nifty below 36800.
Data Analysis: In the cash market trading data, we find that while both FIIs and DIIs were net buyers. Calculating a three-day average in the derivative segment, we find that FIIs are neutral while DIIs continue to hold bearish positions. We can observe that FIIs have reduced their positions in Index Futures but added to Index Calls. However, they have increased their positions in Index Puts.
Kindly take positions after taking note of global indices before taking trades on Friday.
Trade Recommendations for 06th -10th Sep. 2021:
1. Adani Transmission (1806.75): Bullish. Hold positions till RSI > 60.
2. Procter & Gamble (14179.40): Bullish. Exit Short Positions. Take Long Fresh Positions since RSI > 60
3. ICICI PRU LIFE INSURANCE (696.70): Bullish. Hold till RSI > 60 in daily charts.
# All Calls are for Short Term Trading and valid between 06th – 10th September 2021.
Data Analysis: In the cash market trading data, we find that while both FIIs and DIIs were net buyers. Calculating a three-day average in the derivative segment, we find that FIIs are neutral while DIIs continue to hold bearish positions. We can observe that FIIs have reduced their positions in Index Futures but added to Index Calls. However, they have increased their positions in Index Puts.
Kindly take positions after taking note of global indices before taking trades on Friday.
Trade Recommendations for 06th -10th Sep. 2021:
1. Adani Transmission (1806.75): Bullish. Hold positions till RSI > 60.
2. Procter & Gamble (14179.40): Bullish. Exit Short Positions. Take Long Fresh Positions since RSI > 60
3. ICICI PRU LIFE INSURANCE (696.70): Bullish. Hold till RSI > 60 in daily charts.
# All Calls are for Short Term Trading and valid between 06th – 10th September 2021.