MARKETS FOR 27TH SEPTEMBER

 AS WAS WRITTEN YESTERDAY, DUE TO EXPIRY CONSIDERATIONS, NIFTY CONTINUED WITH THE RANGE BOUND MOVEMENTS WITH A NEGATIVE BIAS. WEDNESDAY SAW NIFTY MAKING THE 3RD CONSECUTIVE DAY OF LOWER HIGHS AND LOWER LOWS THAT ENCOURAGES ONE TO SHORT THE INTRADAY RISE AS LONG AS SPOT NIFTY FAILS TO CROSS LAST FRIDAYS HIGH OF 5720. EVERY INTRADAY RISE TOWARDS OR ABOVE 5700 SPOT LEVELS MAY BE RUTHLESSLY SHORTED BY HAVING A STOP LOSS ABOVE SPOT NIFTY LEVEL OF 5720 FOR GOOD INTRADAY GAINS. BEING EXPIRY DAY
ONE SHOULD AVOID AGGRESSION  & NO TRADE IS BEST TRADE & IF ONE IS ITCHING TO TRADE THEN TRADE SHORT  AFTER AN INTRADAY RISE IF AT ALL BIG OPERATORS ALLOW A BIG RISE ON THE EXPIRY DAY.

PRESENTLY NIFTY IS IN THE PROCESS OF CONSOLIDATING AFTER THE BIG RISE FROM 5TH SEPT LOW OF 5215 TILL 21ST SEPT HIGH OF 5720. SO IT IS REASONABLE TO EXPECT SOME CORRECTION OR CONSOLIDATION BEFORE NIFTY TAKES OFF TOWARDS THE HIGHER LEVELS OF 5900 PERHAPS DURING THE MOST DEVASTATING MONTH OF OCTOBER WHICH HAS THE NOTORIOUS HISTORY OF 80% OF  BEARISH RECORDS AND ONLY 20% BULLISH RECORDS. WELL IN THE PRESENT OPERATOR INFECTED MARKET CONDITIONS UNEXPECTED CAN BE EXPECTED. AN AS USUAL CORRECTION IN OCTOBER WHICH HAS JUST STARTED IN A MILD FORM SINCE LAST 3 DAYS, WILL ESTABLISH THE BASE FOR THE NEXT UP MOVE TOWARDS THE NEW LIFE TIME HIGHS AFTER THE CORRECTION OR THE CONSOLIDATION IS OVER. SO, BUY THE DECLINES AS LONG AS SPOT NIFTY CLOSES ABOVE 5530 OR TO BE MORE SAFE ABOVE THE 50 DAY EMA.

FOR INTRADAY TRADING ON THE EXPIRY DAY, TRADERS LACKING ENOUGH EXPERIENCE IN STOP LOSS CLEARANCE SHOULD ATTEMPT FRESH TRADES AS THERE IS EVERY POSSIBILITY OF ALL THE STOP LOSS GETTING TRIGGERED DUE TO OPERATORS ACTION. TECHNICALS GENERALLY DO NOT WORK ON EXPIRY DAY & IT IS THE DESIRE OF THE MONSTER EXTERNAL OPERATORS THAT WORKS ON THE EXPIRY DAY BASED ON  THE QUANTITY & LEVELS OF WRITTEN OPTIONS HELD BY THESE OPERATORS. SPOT NIFTY HAS SUPPORT AROUND 5633 FOLLOWED BY 5622 BELOW WHICH AN EXPIRY CLOSING AROUND 5600 IS A CERTAINTY. SIMILARLY ON THE HIGHER SIDE 5680 TO 5692 ARE THE RESISTANCES SUSTAINING ABOVE WHICH AN EXPIRY CLOSING AROUND 5700 IS LIKELY. HAVING SEEN THE EXTERNAL OPERATORS’ ACTION WITH THE EUROPEAN MARKETS, THERE IS EVERY POSSIBILITY F AN EXPIRY CLOSING AROUND 5650 OR LOWER LEVELS EVEN THOUGH TECHNICALS SUGGEST THE WIND TO BE BLOWING TOWARDS AN 5700 EXPIRY.