Pre Market Analysis By Amit For 30/09/2021
Updated: Sep 30, 2021
CE writers intact no short-covering from even 17600 CE writers as well, suggests how confident they are.
Crude is down a little bit which, indicates dow, will close in red. (As per my analysis or experience ).
the dollar index is up again,
yield is, flat too, negative slightly.
My analysis says expiry can,b at 17700 by eating all premium, all activities related to, expiry volatility is looking, already done.
Fresh sell below 17580 & long above 17780 views is same. I believe tomorrow we, will get the opportunity, no, need to take a risk.
Script for today.
Global, looking stable.
Dow +150 and SGX showing 40-50 points gap, down.
same, like yesterday 17620-580 is buying area with strict SL at 17570.
Nice trend line Nifty is following and I'm on the bullish side.
it will b great if Nifty opens the gap, down to flat. If Nifty spends time at 17650 to 17740 then in the second half we may see a sharp bounce towards 17800 till 17840 too short-covering rally we can say.
On breaking 17580 and sustaining for 15 min then fresh positional short can,b initiated for a target up to 17420-380.
The stock, of the day, is Tata Steel. Target 1338.