More bulls added in Nifty today..keep loading

So once again Nifty tried to sustain above 24800 but failed. And that’s why we saw another round of Sell-On-Rise.

I’ve been repeating this – until we get a weekly closing above this level, we need to stay cautious and avoid opening any aggressive positions in Nifty.

But today an interesting thing happened – Nifty’s Pivot has moved up to 24803 and PP is 0.12%.

1. Retail index has picked up.
2. Sellers’ volume was higher by 3M.
3. Momentum is up.
4. Trend turned more positive.
5. Market breadth is also positive.

So overall my view remains bullish. But data suggests that tomorrow neither options nor stocks will give big moves. So we can expect a sideway day with bullish tone intact.

Only those stocks with high momentum and relative strength will move – and I’ll focus on trading exactly those.

Support for tomorrow is at 24777 and resistance at 24850.

On the sector side, Metals need to be on the radar tomorrow.

BANKNIFTY trend is a bit weak, but in coming days it may get a push. A proper move will only come above 54700.

As I said clearly today – it was a day for options trades. And options performed much better than equities.

I traded MOTHERSON call options today – it gave a massive 90%+ move. Entry was a bit late but still booked good profit.

Second trade was in NIFTY options for 23rd September expiry, which I am still holding.

My other trades that performed well today:

IOLCP – +15.35%
MOBIKWIK – +10.77%
KIOCL – +4.88%, went up to +8% intraday

📊 Levels at a glance:

Nifty Pivot: 24803
Support: 24777
Resistance: 24850
Pivot Percentile: 0.12%
Bias: Bullish but cautious until 24800+ weekly close

BankNifty Support: 53500
BankNifty Resistance: 54700 (break = momentum)
Trend: Weak but possible push in coming days

Sectors on Radar: Metals, high momentum + relative strength stocks

That’s all for today. Take care and have a profitable tomorrow.

#Nifty #StockToWatch