Daily Pre-Market Analysis - 4th October | Nifty - Bullish Wyckoff & Harmonic | Buying Pharma Stocks |

SGX Nifty Live @ 17,110

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https://youtu.be/11F6rGUsDqg

Nifty - Enter the Dragon

The bullish start with the gap-up opening excites the bulls but I will take it as the profit booking area for intraday traders.

The index has entered the major resistance zone (marked red on the chart) at 17,190-17,330.

The bulls may have to put extra effort to cross this hurdle.
(CMP-17200)

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The bulls are back in style as they reclaim the 17,000 marks on Nifty; end the day at 17,274 gaining 2.3%.

The bullish engulfing followed by bullish harami confirms the bullish reversal on the Nifty as it closes above the high of 17,187.

Bullish Wyckoff and Bullish Harmonic patterns discussed in the Daily Pre-Market Analysis are playing their role. Watch here https://www.youtube.com/watch?v=11F6rGUsDqg&t=39s

The recent swing low of 16,747 marks the short-term bottom and signals upside levels of 17,515-17,700.

A move above the gap area resistance of 17,300 and 39,500 on Nifty and BankNifty respectively may trigger the short-covering rally.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty - If we open above the resistance zone of 17,300-17,340 and close above it in the first 15mins of the day, we may hit our expected upside levels of 17,515-17,700.

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Daily Pre-Market Analysis - 6th October | Nifty & Bank Nifty Trading Levels | Weekly Expiry Options Strategy |

SGX Nifty Live @ 17,430

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https://youtu.be/wtN58sUxJks

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https://youtu.be/DxQaD0rI8GI

Daily Pre-Market Analysis - 7th October | Nifty & Bank Nifty - Buy at Open | Pharma & PSU Index |

SGX Nifty Live @ 17,275

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https://youtu.be/uo98uG5lsLA

Nifty - Low @ 17,239 to High of 17,334 📈

As discussed 17,230-17,250 is the buying zone...Day Low will be the next short-term support once the index moves above 17,414.

The bulls are back on D-street as Nifty gains 1.3% in the truncated week to end at 17,314.

The resistance turns support at 16,750 marking the short-term bottom on charts; the bulls will be in control of the trend till the recent low of 16,747 is unbroken.

An “evening star” candlestick pattern at the high of 17,428 on the daily chart may act as a hindrance for bulls next week.

The gap area of 17,200-17,300 is acting as a support zone as it is held during the day.

The break of the 17,184-17,516 range may accelerate the momentum.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 10th October | Nifty - SGX signals Gap-Down | Dow Jones - Bearish Island |

SGX Nifty Live @ 17,040

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https://youtu.be/NrcXpKfHCbg

Indian indices recovered after the gap-down opening; Nifty ended at 17,241 losing 0.73%.

IT index kept the bulls in the game as it was the only index to end in green; gains 1.06%.

Watch the chart here https://t.me/FastProfitsReport/911

Nifty formed the bullish candle but an evening star candlestick pattern at the high of 17,428 dubious the traders about the bullish scenario.

Bank Nifty reversal from the gap support area of 38,500 indicates that bullish momentum can be on cards during the week. Traders can look to buy the dip till 38,292 is negated.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 11th October | Nifty & BankNifty Strategy | IT Index - The Short-term Trade |

SGX Nifty Live @ 17,190

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https://youtu.be/erZOnIEJuPo

Nifty - Stuck in the range

The break of 17000-17300 can accelerate the momentum.

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The last hour selling on D-street ends the day below 17,000 for Nifty, which lost 257 points.

All sectoral indices ended in red with the Realty index losing 2.53%.

Nifty hovers in the range of 50DEMA (17,262) and 200DEMA (16,901).

The double-top breakdown, retest and bearish continuation signal the bears are having an upper hand in the short-term trend.

Brijesh Bhatia
Research Analyst, Fast Profit Report