What's in Nifty?
The way I see the chart nowadays, 
NIFTY will touch 24465 on momentum and then might come down for a time being and then try to attempt achieve 24728 and will close in Green.
The downside support is now at 24350
So basically it is now the game between 24400 and 24500 as per the OI data reading.
As per the Open Interest data, FII sold both, CE and PE. Meaning they are preparing for the rangebound market - sideways or consolidation - between 24400 and 24500.
What should retailers (WE) do? - Don't trade between this range. Pick stocks near their long and mid term moving average.
I know, many traders who have emerged in the bull market, will be afraid of this type of volatile market. But believe me this is a healthy correction and needed to burst out the bubble from the market. So brace yourself for new learnings.
Another advise for retailers is - Invest in learning as much as you can do. Read books. AVOID YouTube tutors. Take class from any teacher you would like to. But make sure you do learn in this market. You won't be getting such opportunity every now and then.
Chees to a profitable day ahead.
NIFTY will touch 24465 on momentum and then might come down for a time being and then try to attempt achieve 24728 and will close in Green.The downside support is now at 24350
So basically it is now the game between 24400 and 24500 as per the OI data reading.
As per the Open Interest data, FII sold both, CE and PE. Meaning they are preparing for the rangebound market - sideways or consolidation - between 24400 and 24500.
What should retailers (WE) do? - Don't trade between this range. Pick stocks near their long and mid term moving average.
I know, many traders who have emerged in the bull market, will be afraid of this type of volatile market. But believe me this is a healthy correction and needed to burst out the bubble from the market. So brace yourself for new learnings.
Another advise for retailers is - Invest in learning as much as you can do. Read books. AVOID YouTube tutors. Take class from any teacher you would like to. But make sure you do learn in this market. You won't be getting such opportunity every now and then.
Chees to a profitable day ahead.
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.