Intraday study for Indian indices`for 4th October 2022

Hi Good morning

yesterday we tested our strong support of 16850 after facing the resistance at around 17100 and for today we have many shorts in the system as the down move lead by the short build up and as the dows is suggesting and also the sgx nifty that we are opening gap up and the rally in Nasdaq support the CNXIT and we open 17139.5 and start trading above that and sustain that level we may see a huge rally in upside watch that stocks i have mentioned i the yesterday view they perform well and we have see the HCL tech from 880to 940 and the rally continuous


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

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see we open gap up show some dip and sustain above 17139.95 and closes the candle above that and see the up move refer previous to see more convection with INFY if corrected till 1421 in spot 1440 -- 1480 calls are looks good

I have 1460 CE at lower level Carrying from Friday

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why we are not moving up and consolidation because as indicted early the markets are in overbought zone and need to go down or consolidate on 5-30 min time frame only i am talking about so after 2:15 we can see the sharp upswing +short covering

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see markets at 2:15

strong support @nifty is at 17200 there is no strong resistance on options basis but 17325 may create hurdle

Bank nifty ---- we are above 39000 this triggers short covering till 39350 strong support 38800

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update this is how data works see the move we are closing at days high carry the INFY CE will see on Thursday after holiday happy Vijayadashami.....

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this is how data works closes at days high all calls at days high carry the INFY call will see on Thursday after the market holiday happy vijayadashami...