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Nifty's Structure For Final Week of September series
#1
Nifty's Structure For Final Week of September series

Hello folks, hope you're safe and doing good.
Today I'll be sharing the important levels in nifty futures, which you can trade accordingly.

Currently Nifty futures closed at 17335 odd levels, which is lower than the levels I mentioned in my previous post.
The monthly candle (bearish harami) and weekly candle (a classic shooting star confirmation follow up for previous week) solidifies all the activity that happened last week.
This indicated that bears are officially back in the markets, which was supported by price, volumes, open interest data in both options and Futures, Rise in Vix etc.

1. In the coming week,
--> S1: 17250 (very strong); S2: 17125, S3: 17008
--> R1: 17308 - 17336; R2: 17390; R3: 17430 - 17440 (very strong)

2. 17250 will be acting as a key support area. On 26th Monday, we can expect a gap down. If it opens far below it observe the price action, if it opens near this level there is a higher probability of getting a good small scalp in the reverse direction. This level is also crucial as the 200 EMA on 3hrs is coniciding.

3. As I assume you folks already have a good idea of price action, please take a trade carefully at these levels, as reversals or breakouts are very high at these levels. The direction and the conviction in the trade is very important when you try to scalp at these levels.

Protect your capital, have a predefined SL, and take trade accordingly. Since we are risking our hard earned money, let's try to risk it at the price levels where there is a high probability of winning (or low probability of losing)


Stay safe and good luck for a happy and stress free trading!!

https://in.tradingview.com/chart/NIFTY1!...er-series/
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