Sublime’s Technical View On Market For tomorrow(08/31/2017)

Nifty opened with a gap up 63 points and traded between intraday low of 9850 to intraday high of 9909 and closed at 9884 with 84 points gain.
Top Gainer
  IOC
VEDL
HINDALCO
BPCL
 Top Losers 
  NTPC
TECHM
M&M
LUPIN
Relative Data as following:
RSI= 51.37(1D chart) with a inverted hammer type candle.
RSI=55.61 (1 H Chart) with downtrend  at closing time.
Today’s Nifty Closing Price: 9884.40
support level =9840
Resistance level =9920
Today’s FII/DII Activities:
FII Trading Activity:
DII Trading Activity
Note –
ON daily chart nifty formed a inverted hammer type pattern but previous trend is zig zag.if an inverted hammer is formed at an uptrend then there is a chance of trend change but nifty doesn’t clear its previous direction so there is one more factor moving average and nifty closed above its 25 DEMA and 50 DEMA which is good sign for bulls but one more factor is next day is expiry of this month  so market may be very volatile for the next day and as market bounced back from 120 points so next day may lead to profit booking.
on hourly charts nifty showed sign of downtrend at closing time and made an consolidation pattern at today’s high so market seems volatile for the next day and most probably expiry may be seen at level of 9830 to 9900.

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