Price Action :
Nifty saw traded whole day in range of 150 points like previous day. Can saw side ways or consolidation. Take away is closed in positive.
Technicals:
Nifty traded whole day in a narrow band of 150 points with volumes less than average. The index formed a doji ( meaning indecisiveness )trading below the 10, 20, 50, and 200-day EMAs. The momentum indicators, RSI (Relative Strength Index at 36), and MACD (Moving Average Convergence Divergence) remains below the zero line, indicating weakness still persists.
Support/Resistance
Major Support 23000
Immediate Support 23150
Immediate Resistance 23300
Major Resistance 23450
Trend:
Nifty in sideways to bearish
Options Data:
Weekly Options data suggests huge Call build up at 23300 levels suggesting major Resistance
22200 levels saw little Put Writing suggesting small Support.
PCR improved to 0.8
Futures Data:
FII Long/Short ratio came down to 17%
Nifty Futures saw little increase with small increase in Open Interest suggesting Long addition
Outlook for Next Session:
Nifty might consolidate while stocks perform based on results.
Approch:
No Trade till 23350 or 23100 convinsingly taken out.
Wait for today’s Low or High to break for further direction
My Trades & Positions:
no positions
Nifty saw traded whole day in range of 150 points like previous day. Can saw side ways or consolidation. Take away is closed in positive.
Technicals:
Nifty traded whole day in a narrow band of 150 points with volumes less than average. The index formed a doji ( meaning indecisiveness )trading below the 10, 20, 50, and 200-day EMAs. The momentum indicators, RSI (Relative Strength Index at 36), and MACD (Moving Average Convergence Divergence) remains below the zero line, indicating weakness still persists.
Support/Resistance
Major Support 23000
Immediate Support 23150
Immediate Resistance 23300
Major Resistance 23450
Trend:
Nifty in sideways to bearish
Options Data:
Weekly Options data suggests huge Call build up at 23300 levels suggesting major Resistance
22200 levels saw little Put Writing suggesting small Support.
PCR improved to 0.8
Futures Data:
FII Long/Short ratio came down to 17%
Nifty Futures saw little increase with small increase in Open Interest suggesting Long addition
Outlook for Next Session:
Nifty might consolidate while stocks perform based on results.
Approch:
No Trade till 23350 or 23100 convinsingly taken out.
Wait for today’s Low or High to break for further direction
My Trades & Positions:
no positions
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.