NIFTY

Updated

NIFTY is forming a range. There is a gap in NIFTY that can be filled on the downside if the index sustains below 18140. It would be good to go long above 18275-80 levels for 18350/400. However for the expiry on 20 Jan 2022, The current OI data on NSE shows a lot call writing at levels 18300 and 18400.
Whatever side the Index breaks, it would give a good move. There is a TL on 30 minutes TF which is very crucial as well. If that breaks, we can see some downside to levels of 18070-80.

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I would update this log in coming days.

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Index made a high of 18321.55 today after sustaining 18275 to 18280 levels. Hope everyone got benefited. Today was a day for option sellers which I suspected as SGX nifty was trading flat.

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if the lower TL is not broken then we may see 18350,400 in coming days.

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The gap was filled today, major TL was broken. strong put writing at 18k levels. If the sell off continues then, we may see 17900, 17800 at max on downside.

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Today we did see 17900 and even 17880. 17880 to 17870 is strong support zone. If the the global market doesn't support then we may se 17600 aswell.

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Hope people did trade the falling wedge pattern on 1TF. However there was no momentum on long side as every rise was sold.

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17650 was seen today amidst global weekness.

adityastock101

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