FROM OUT LAST 2 POSTS WE HAVE BEEN TELLING ONE AND SAME THING THAT THOUGH MANY PEOPLE ARE EXPECTING DOWNSIDE AT FIRST, GAP MADE BETWEEN 8225 & 8060 SHALL BE FILLED THEN ONLY REST OF MOVE ON EITHER SIDE IS TO BE THOUGHT OFF.
IN LAST TRADING SESSION HIGH OF 8232 AND THUS GAP WAS FILLED...!!!
BELOW GIVEN GRAPH SHALL GIVE CLEAR IDEA TO READERS.
TRY TO SEE GREY COLOR OVALS (FOR GAP FILLING) AND ALSO RED OVAL AS NIFTY TOOK PERFECT RESISTANCE NEAR TO THAT LEVEL (8229 AND HIGH MADE ON FRIDAY IS 8232)
NOW IF WE TALK ABOUT OPTIONS DATA THEN HIGHEST OI IS AT 8300 CE & 8100 PE WHICH MAKES DOWNSIDE & UPSIDE LIMITED FOR SESSION FOR TWO ATLEAST.
PUT CALL RATIO ON OI BASIS IS 1.26 WHICH AGAIN MAKE TOUGH ROAD AHEAD FOR BULLS (THIS IS ALSO SUGGESTED BY OPTIONS DATA ~ 8300 CE)
NOW IF WE SEE NIFTY PE RATIO THEN AFTER LAST SESSION IT IS AGAIN ABOVE 22. (22.88 TO BE VERY PRECISE) (WHEN NIFTY WAS ABOVE 9000 IT WAS 24.06) SO AS PER INVESTMENT PERSPECTIVE TOO NIFTY BASED STOCKS ARE UNDER OVER BOUGHT SITUATION AT PRESENT.
IN LAST TRADING SESSION HIGH OF 8232 AND THUS GAP WAS FILLED...!!!
BELOW GIVEN GRAPH SHALL GIVE CLEAR IDEA TO READERS.
TRY TO SEE GREY COLOR OVALS (FOR GAP FILLING) AND ALSO RED OVAL AS NIFTY TOOK PERFECT RESISTANCE NEAR TO THAT LEVEL (8229 AND HIGH MADE ON FRIDAY IS 8232)
NOW IF WE TALK ABOUT OPTIONS DATA THEN HIGHEST OI IS AT 8300 CE & 8100 PE WHICH MAKES DOWNSIDE & UPSIDE LIMITED FOR SESSION FOR TWO ATLEAST.
PUT CALL RATIO ON OI BASIS IS 1.26 WHICH AGAIN MAKE TOUGH ROAD AHEAD FOR BULLS (THIS IS ALSO SUGGESTED BY OPTIONS DATA ~ 8300 CE)
NOW IF WE SEE NIFTY PE RATIO THEN AFTER LAST SESSION IT IS AGAIN ABOVE 22. (22.88 TO BE VERY PRECISE) (WHEN NIFTY WAS ABOVE 9000 IT WAS 24.06) SO AS PER INVESTMENT PERSPECTIVE TOO NIFTY BASED STOCKS ARE UNDER OVER BOUGHT SITUATION AT PRESENT.
FINAL CONCLUSION
AS EARNING SEASON HAS ALREADY STARTED, NOW ALL MOVES SHALL BE DEPENDENT ON EARNINGS. BUT AS MENTIONED IN OUR LAST 2 POSTS CLOSE ABOVE 8300 CAN CHANGE WHOLE MOMENTUM OTHERWISE THIS UPMOVE FORM 7540 TO 8232 IS NOTHING BUT GAP FILLING PROCESS.
STANDARD DISLCOSURE:-
PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND IT MAY REVERSE ANYTIME. THIS POST IS FOR EDUCATION PURPOSE ONLY AND NOT TO BE CONSIDERED AS BUYING OR SELLING RECOMMENDATION. WE ARE NOT SEBI REGISTERED RESEARCH ANALYST. WE ARE NOT RESPONSIBLE FOR ANY PROFIT OR LOSS FOR ANY TRADES EXECUTED ON BASIS OF THIS POST.
PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND IT MAY REVERSE ANYTIME. THIS POST IS FOR EDUCATION PURPOSE ONLY AND NOT TO BE CONSIDERED AS BUYING OR SELLING RECOMMENDATION. WE ARE NOT SEBI REGISTERED RESEARCH ANALYST. WE ARE NOT RESPONSIBLE FOR ANY PROFIT OR LOSS FOR ANY TRADES EXECUTED ON BASIS OF THIS POST.
WE REQUEST ALL READERS TO GIVE THEIR FEEDBACK ON NIFTY50STRIKER@GMAIL.COM OR BY COMMENTING ON THIS BLOG POST.
ABOUT AUTHOR ~ MANUSH VADHER
REALLY GOOD OBSERVATION AND CHART READING SIR HATS OFF TO YOU
ReplyDeleteThank you so much. It means a lot to me.
DeleteREALLY GOOD OBSERVATION AND CHART READING SIR HATS OFF TO YOU
ReplyDelete👍👍👍
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