The market continued to consolidate while maintaining its upward momentum
for the ninth consecutive session and hit a new Nifty 50 closing high on 28th August.
The rise of 0. 14 per cent to 25,052 points formed a doji like
candlestick pattern indicating consolidation and indecision among buyers and
sellers on future market trends. US stock markets fell across the board
overnight and Asia opened today with a correction, creating instability in the domestic market. The bulls may weaken after consecutive rallies and the
market is expected to remain consolidated on the monthly F&O expiry date.
Important resistance above is at 25, 100 pips,
while short-term key support
appears at 24,950 pips, at 5-day EMA level.
Nifty Options
For call option data, the highest number of open positions is at 25,500 strike, which can act as a key
resistance level for Nifty in the short term. In put options, the highest number of open positions is at
25,000 strike, which can act as a key support level for Nifty.
August F&O expires and can be shifted to September F&O to open new positions. Longs have shown weakness and remain short for the next few
sessions, today one can focus on NIFTY SEP 24500 PE and enter new position at 135-150 with scheduled profit of 15%.
for the ninth consecutive session and hit a new Nifty 50 closing high on 28th August.
The rise of 0. 14 per cent to 25,052 points formed a doji like
candlestick pattern indicating consolidation and indecision among buyers and
sellers on future market trends. US stock markets fell across the board
overnight and Asia opened today with a correction, creating instability in the domestic market. The bulls may weaken after consecutive rallies and the
market is expected to remain consolidated on the monthly F&O expiry date.
Important resistance above is at 25, 100 pips,
while short-term key support
appears at 24,950 pips, at 5-day EMA level.
Nifty Options
For call option data, the highest number of open positions is at 25,500 strike, which can act as a key
resistance level for Nifty in the short term. In put options, the highest number of open positions is at
25,000 strike, which can act as a key support level for Nifty.
August F&O expires and can be shifted to September F&O to open new positions. Longs have shown weakness and remain short for the next few
sessions, today one can focus on NIFTY SEP 24500 PE and enter new position at 135-150 with scheduled profit of 15%.
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.