Nifty & Banknifty Trade Setup for 6 Sept.

6 בספט׳ 2021

MARKET ANALYSIS AND PREDICTION FOR 06.09.21 (MONDAY ) ON 9 SEPT
*******************************************************

* NIFTY 50 *
---------------------
SUPPORT AREAS
---------------------------

1ST SUPPORT AREA : 17307.10-17315.20 | 1ST RESISTANCE AREA : 17360-17380

2ND SUPPORT AREA : 17211.25-17225.50 |





* NIFTY BANK *
------------------------
SUPPORT RESISTANCE
----------------------------- ----------------------------------

1ST SUPPORT AREA : 36484.80-36552.40 | 1ST RESISTANCE AREA : 37043.60-37175.05

2ND SUPPORT AREA : 36145.75-36262.30 | 2ND RESISTANCE AREA : 37557.15-37708.25

PIVOT : 36830.25




-----------------------------------------------------------------------------------------------------------------------------------------------------

EXPECTATION : The short term trend of Nifty is in a strong mode and the broad market indices were also in driver's seat.
One may expect showing another round of consolidation
or minor profit booking from the new highs, before further upside in the next 1-2 sessions
The next upside levels to be watched around 17,380 and immediate support is provided.

This pattern has nullified a minor negative/consolidation pattern on the daily chart.

---------------------------------------------------------------------------------------------------------------------------------------------------------------