NIFTY Forecast for 01 Oct 2020

As discussed last time for 29 Sep 20, “Bull got the entry on level as the low made was 11099 and two targets achieved, now waiting for the third target. Now bulls need to hold 11184-11200 range to continue the rally. Fresh longs to be added above 11210 only for target of 11290, 11343 & 11396. Bears need to pull index below 11157 for target of 10999 which was actually entry point of bears as per yesterday analysis. intermediate levels will be 11078 & 11025 as per Gann chart.”

Bearish level not triggered as the low made on last two sessions is around Gann level of 11184. Today (30 Sep 20) low made exactly at 11184.55 & market reversed upside. Further as discussed for 28 Sep 20 Analysis 29/30 Sep will be important to watch out.
As it can be seen from chart market opened gap-up and closed below Gann angle. Today (30 Sep 20) high made was 11295 so unable to break the high of 29 Sep 20 forming a doji on daily candle as if now market is respecting resistance near Gann angle. Now bears need to move below 11184 to move towards 11078-11025. Bullish levels remain same as discussed for 29 Sep 2020 analysis.

For 01 Oct 2020

Buy above 11290 for target of 11316, 11343 & 11369
Sell below 11236 for target of 11210, 11184 & 11157

Trade with Discipline & Strict SL

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