Trade with RP 30/09/2021
Nifty to remain range-bound for the first half of the day. For upside, rally needs to sustain above 17805 levels. Weak only below 17605 which is yesterday's low.
Banknifty correction from wedge pattern and expecting to finish correction near 37600-550 zones. The pullback should start from here. Wait for price action to give some signals as the first 15 min are very volatile. The selling side will only start after breaking 37480.
Nifty bearish red Marubozu candle on first 15min chart. But possible reversal zone at 17650-30 as C wave expected to complete near it also major trendline support. Look for confirmation Reversal Candlesticks like Green Marubozu, hammer, piercing Line, morning star etc
Nifty made Piercing Line pattern after making low 17658. Highly Risky can go long near major support 17690-80 with SL 17658 for target 17750-800 in 1-2 sessions.
Nifty put sells hedge can be added with 17658 as SL.
IGL long near 525 SL 523 tgt 530 #Intraday
Nifty long suggested near 17680 moved to 17730 gain of 50 points so far target 1 is 17750 2nd 17800. Trail or book at your own comfort.
Broken day low looks fall coming as said earlier next leg of fall only after breaking 17608 low. My view changes to bearish only after breaking this level. Very good support near 17660-50 levels. Best to trail SL if you are on the short side. The upside is tough no hope before day high 17743 breaks.