Nifty levels and view for expiry (7sep)

 Expiry Plan

Last 30 Minutes One sided Rally Created yet Another Hammer on Daily Chart. Looks like there's Competition of Candles on 'who makes the Best Hammer' 

i) NIFTY Did Manage to Close Above 19600, But such EOD Rallies need Followup on Next day with Gapup Open, Else There's High Chances this move gets Converted into BULL TRAP. 

ii) 19645 & 19735 Immediate Resistance for Nifty & these are strong ones as well. To Breakout with Strength above Such Past levels, Price needs a Pause for a Few Days and Hold at Higher Levels, above 19600 precisely. ELSE, Downside may begin Again below 19500 & this time for 19250 Breakdown. 

iii) Tomorrow Open if Flat & Buyer Show any Lack of Strength, NIFTY May Likely go for 19520 & 19490 test for Little Downtrending day. But, Obviously Buyer might keep coming for defense in middle levels, so it might turn into a Whispaw Day of Sorts. Best thing to do is Identify Good Location throughout the Day for All Entries. 

Overall Bias : Slight Bearish/Sideways Below 19600. 

Bullish above 19645+ 

Middle Zone for Compression & Premium Decay.

Nifty important support and resistance for tomorrow 

THE HISTORY OF INDIAN SENSEX

 Journey of Indian Stock Market*📈📈

*1979* - Sensex = *100*,

*1983* - Indian Cricket Team winning World Cup. Sensex = *212*,

*1984* - *Indira Gandhi* shot dead & Bhopal Gas tragedy. Sensex = *245*,

*1989* - *Hung Parliament* with Congress outside support. Sensex = *714*,

*1991* - *Rajiv Gandhi* assassination. Sensex = *1168*,

*1993* - Blast in Mumbai. Also at BSE buidling. *Riots all over*. Sensex = *2281*

2001- Gujarat *earthquake*. Sensex = *3640*,

2004- UPA coming to power with Left party support. Sensex = *5591*,

*2006* - Sensex conquering = *10000*,

*2007* - Sensex conquering = *20000*,

*2008* - subprime crisis

Crude oil rising upto $ 147.

Sensex below 9000

*2010* - Satyam *scam*, Common wealth scam. Sensex = *17590*,

*2013- Fed taper tantrums 

 

*2014* - *BJP* alone conquering *283 seats* in Lok Sabha and NDA coming to power with 330 seats. Sensex = *25000*.

*04/03/2015* - Sensex = Life Time *High* *30025*..! 

2016- Demonitisation 

2018- carnage in small caps 

2020- Covid. Sensex back at 25900 on 23 march 

2022-2023 Russia Ukraine war , 525 bps rate hikes by fed

 

Sensex at 65000…. 650 times 

Downturns are temporary 

India story is structural 👍

Be disciplined ..