Nifty analysis for 06.09.24
Nifty opened gap up and sellers got active as market opened at Supply level. Today at planned levels or marked levels we captured 25 to 40 points on options.
Nifty
Resistance -
25208-25210 some selling opportunity
25300- sellers active
Support-
S1 - 25130-25150 levels and if this breaks
S2- 25090
S3- 25000-25020
Although Negative bias but need to see how price reacts at market levels. Instead of predicting the markets best to identify price reaction at markets levels. At the time of this post US markets are negative. If market opens gap down I will look for buying at lower support levels only after 15 minute candle confirmation.
If market takes out 25200 and sustains then we can look for higher levels else look for price action on sell side.
Nifty
Resistance -
25208-25210 some selling opportunity
25300- sellers active
Support-
S1 - 25130-25150 levels and if this breaks
S2- 25090
S3- 25000-25020
Although Negative bias but need to see how price reacts at market levels. Instead of predicting the markets best to identify price reaction at markets levels. At the time of this post US markets are negative. If market opens gap down I will look for buying at lower support levels only after 15 minute candle confirmation.
If market takes out 25200 and sustains then we can look for higher levels else look for price action on sell side.
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