Intraday study for Indian indices on 8th sept 2022

8 Sep 2022

Hi Good morning


So as we discussed yesterday the nifty is in range bound & levels are 17450- 17717 the 17717 is the major resistance level which is faced by the nifty and the majored support is placed at 17485-17525 because there is major put writing at this levels and the 17700 calls has the major call writing
So as today is the weekly expire then if we sustain above 17700 and given a 30 min candle closure above 17717 the we see a massive short covering in the 17700 calls which move indices towards 17825 levels

Now coming to the sector specific we highlighted at yesterday 9:20AM tat cement , media ,FMCG is looking good then you have seen the move in these sector now for today pharm, IT , Capital good looking good as per data developed yesterday

in the Bank nifty Axis Bank looks good along with some PSU Banks

Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered

Follow for more Thank you.....

8 Sep 2022

Nota

so half of the session is done and we have seen the nifty is continuously above that 17717 resistance level as it gives close above that

and also look at the axis bank , shree cement all the moves as per our study