Nifty opned at 23700 and couldn’t go higher trading in a range for most part of the morning session, then saw selling pressure and tested 23450 and closed in neagtive at 23486 down -0.7%
Price Action : - Bullish
Nifty closed Neagtive with some profit booking at highs.
Candle Pattern: - Bullish
Formed a Neagtive Bearish candle, Bearish untill recent highs taken out
Daily EMA Positioning: Bullish
10dEMA 23176
20dEMA 22980
50dEMA 23136
200dEMA 24080
EMA Trend:
Closed above 10dEma ,20dEma, 50DEMA and 200DEMA,
Daily MA suggests Buy
Hourly suggests Sell
15mins Suggests Strong Sell
The momentum indicator, RSI - Relative Strength Index is now below 70 at 65 - not Overbought
Momentum gaining towards Neutral to Positive
Support/Resistance Levels:
Major Support 23000
Immediate Support 22300-200
Immediate Resistance 22550
Major Resistance 23700, 24000
Trend:
Short Term Trend is Sideways Consolidation with Negative bias
Daily Options Activity:
Highest CE OI was at 24000 also saw OI addition at 24000. 23600, 22500 - Resistance
Highest PE OI was at 23500, saw Pe unwinding at 23000 with no major PE addition
PCR is 0.8 indicating mild Bearishness
Daily Futures Activity FII + Pro F&O Data:
FII Long/Short ratio at 33.5%/66.5% indicating addition of Longs by FIIs - Bullish
Change in Futures OI:
FII Future positions in longs & shorts remained unchanged -not Bearish
Nifty Futures price was -.7% with 2.5% Decrease in OI indicating Shorts Additions
Observation:
Niftylooked below 23700 as it couldn’t find buyers and saw selling at highs to close weak below 23500
Overall Trend:
Sentiment is Sideways cautious
Outlook for Next Session:
Nifty saw profit booking afrter 6-7 days of large upmove. Now in No trade Zone basically. Wait and watch for clear signal till 22300 or 22800 taken out
Approach & Strategy:
Wait and Watch with Long bias
My Trades & Positions:
No Positions
Price Action : - Bullish
Nifty closed Neagtive with some profit booking at highs.
Candle Pattern: - Bullish
Formed a Neagtive Bearish candle, Bearish untill recent highs taken out
Daily EMA Positioning: Bullish
10dEMA 23176
20dEMA 22980
50dEMA 23136
200dEMA 24080
EMA Trend:
Closed above 10dEma ,20dEma, 50DEMA and 200DEMA,
Daily MA suggests Buy
Hourly suggests Sell
15mins Suggests Strong Sell
The momentum indicator, RSI - Relative Strength Index is now below 70 at 65 - not Overbought
Momentum gaining towards Neutral to Positive
Support/Resistance Levels:
Major Support 23000
Immediate Support 22300-200
Immediate Resistance 22550
Major Resistance 23700, 24000
Trend:
Short Term Trend is Sideways Consolidation with Negative bias
Daily Options Activity:
Highest CE OI was at 24000 also saw OI addition at 24000. 23600, 22500 - Resistance
Highest PE OI was at 23500, saw Pe unwinding at 23000 with no major PE addition
PCR is 0.8 indicating mild Bearishness
Daily Futures Activity FII + Pro F&O Data:
FII Long/Short ratio at 33.5%/66.5% indicating addition of Longs by FIIs - Bullish
Change in Futures OI:
FII Future positions in longs & shorts remained unchanged -not Bearish
Nifty Futures price was -.7% with 2.5% Decrease in OI indicating Shorts Additions
Observation:
Niftylooked below 23700 as it couldn’t find buyers and saw selling at highs to close weak below 23500
Overall Trend:
Sentiment is Sideways cautious
Outlook for Next Session:
Nifty saw profit booking afrter 6-7 days of large upmove. Now in No trade Zone basically. Wait and watch for clear signal till 22300 or 22800 taken out
Approach & Strategy:
Wait and Watch with Long bias
My Trades & Positions:
No Positions
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.