Nifty for Friday

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I've marked the buy and sell zones, and the respective targets.

Watch the OI levels for both 18600 strikes - puts and calls. This may give short term direction.

This is neither a recommendation nor a prediction. Assume it's an amateur attempt by author.

Trade at your own risk/judgement and have a stop loss.

Good Luck!

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ملاحظة

Opened and stayed in sell zone so far. 1st target done.

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ملاحظة

2nd target done.

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ملاحظة

multiple attempts to break 18550-18570 support zone..in the last 3 days..

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ملاحظة

Targets 3 & 4 achieved as well..

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ملاحظة

EOD Updates:

Nifty opened in the sell zone, started falling, and continued falling till around 2:15pm

Last 1 hour we saw some recovery, but it wasn't strong enough to close above 18500 levels.


Options Data:

PCR is bearish at 0.5 (over sold??)
18600 Calls have the highest Open Interest - An uptrend is possible only if we see meaningful covering of these calls.

Will have a new post for next week.

Guess it's best to be open to both bullish & bearish possibilities, and trade as per the price levels.