AGAIN IN TRADING SESSION BEARS DOMINATED IN MARKET AND BULLS REMAINED AWAY FROM STREET.
LETS CHECK WEEKLY & DAILY CHART FIRST TO HAVE BETTER UNDERSTANDING.
RESISTANCE LEVELS:- 7844, 7938 & 8032
NOW LETS SEE SOME IMPORTANT NIFTY RATIOLETS CHECK WEEKLY & DAILY CHART FIRST TO HAVE BETTER UNDERSTANDING.
WEEKLY CHART:-
On weekly chart if we see then reversal kind of candle has formed (known as inverted hammer) so next 2 session are important and if Nifty sustains above 7762 level then we feel that road ahead for bulls will bit easy.
DAILY CHART:-
Looking at above chart if in next trading session if bulls manage to stay above 7775 level then it will be clean & smooth way for bulls for coming days. As last trading session candle is doji (indecisive) candle which may act as reversal candle and trend too.
SO IN SHORT NEXT 2-3 SESSIONS ARE IMPORTANT FOR IMMEDIATE TREND FOR NIFTY LOOKING AT DAILY & WEEKLY CHART.
NOW LETS ANALYSE OPTION CHAIN CHANGES.
RIGHT FROM 7800 TO 8100 PE ALL UNDERGONE DECREASE IN OI SO WE CAN SAY THAT ALL ITM PE UNDERGONE PROFIT BOOKING WHEREAS 7605, 7700 & 7750 PE ALTOGETHER ADDED MORE THAN 400K SHARES IN OI SO IT SEEMS AT ATM & NEAR OTM OPTIONS ARE WRITTEN BY SMART TRADERS AND NOVICE TRADERS MAY HAVE BOUGHT IT.
WHEREAS ON CE FRONT EXCEPT 8100 CE RIGHT FROM 7400 TO 8250 ALL WITNESSED ADDITION BUT AGAIN 8000 CE WITNESSED HIGHEST ADDITION SO SOME SMART TRADER MAY HAVE HEDGED THEIR POSITIONS OR MAY HAVE TAKEN POSITION IN 8000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
SO IN SHORT NEXT 2-3 SESSIONS ARE IMPORTANT FOR IMMEDIATE TREND FOR NIFTY LOOKING AT DAILY & WEEKLY CHART.
NOW LETS ANALYSE OPTION CHAIN CHANGES.
RIGHT FROM 7800 TO 8100 PE ALL UNDERGONE DECREASE IN OI SO WE CAN SAY THAT ALL ITM PE UNDERGONE PROFIT BOOKING WHEREAS 7605, 7700 & 7750 PE ALTOGETHER ADDED MORE THAN 400K SHARES IN OI SO IT SEEMS AT ATM & NEAR OTM OPTIONS ARE WRITTEN BY SMART TRADERS AND NOVICE TRADERS MAY HAVE BOUGHT IT.
WHEREAS ON CE FRONT EXCEPT 8100 CE RIGHT FROM 7400 TO 8250 ALL WITNESSED ADDITION BUT AGAIN 8000 CE WITNESSED HIGHEST ADDITION SO SOME SMART TRADER MAY HAVE HEDGED THEIR POSITIONS OR MAY HAVE TAKEN POSITION IN 8000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
RESISTANCE LEVELS:- 7844, 7938 & 8032
SUPPORT LEVELS:- 7727, 7656 & 7540 (PREVIOUS LOW)
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 17163 & 17494.
SUPPORT:- 16896, 16628 & 16297
SUPPORT:- 16896, 16628 & 16297
PUT CALL RATIO ON BASIS OF OI IS 0.68(OVERSOLD ZONE ~ ON TRADING PERSPECTIVE)
PE RATIO FOR NIFTY STANDS AT 20.97
FINAL CONCLUSION
NIFTY & BANK NIFTY
PREVIOUS DAY LOW 7730 IF REMAIN SAFE AND BULLS IF MANGE TO CLOSE IN GREEN MARKET FOR 2-3 SESSION THEN UPSIDE MOVE TILL 7950- 7980 MAY COME EASILY.
OPEN POSITIONS
NONE
CALL GIVEN DURING LAST TRADING SESSION
BUY 7800 CE AT 78-80 SL 59 FOR TARGET OF 110-130-150
LOW OF 58.75 MADE AND SL WAS TRIGGERED.
TO GET LIVE MARKET CALLS ON NIFTY/BANKNIFTY ON YOUR WHATSAPP SEND MESSAGE 'NIFTY50STRIKER' ON 08866145155. CALLS SHALL BE GIVEN VIA WHATSAPP ONLY.
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
No comments:
Post a Comment
Note: only a member of this blog may post a comment.