Nifty Levels for 25/08/2022
Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
NIFTY
Nifty is slightly up by 27 points. Nifty closed above 20 EMA, VWAP level near day’s high. Once again, we had a highly volatile day. PCR remained flat from 0.83 to 0.84 which is still in bearish zone. Nifty hourly chart has formed flag & pole pattern which is also indicating bearish price action on chart.
Highest open interest on call side at 18000 (Same as yesterday)
Highest open interest on put side at 17000 (Shifted down from 17500)
BANK NIFTY
Bank Nifty is further up by 341 points. Bank Nifty closed above 20 EMA, VWAP level near day’s high. Once again, we had a highly volatile day. PCR shifted up from 0.90 to 1.08 which is now back in bullish zone.
Highest open interest on call side at 40000 (Remained same as yesterday)
Highest open interest on put side at 38000 (Shifted down from 38500 to 38000)
Shall we continue to expect high volatility till outcome of Jackson Hole meeting?
Shall we look for buy on dips and sell on rise opportunities with suitable SL/TSL?
Please do share your comments. Have a happy, healthy & profitable day ahead!
NIFTY
Nifty is slightly up by 27 points. Nifty closed above 20 EMA, VWAP level near day’s high. Once again, we had a highly volatile day. PCR remained flat from 0.83 to 0.84 which is still in bearish zone. Nifty hourly chart has formed flag & pole pattern which is also indicating bearish price action on chart.
Highest open interest on call side at 18000 (Same as yesterday)
Highest open interest on put side at 17000 (Shifted down from 17500)
BANK NIFTY
Bank Nifty is further up by 341 points. Bank Nifty closed above 20 EMA, VWAP level near day’s high. Once again, we had a highly volatile day. PCR shifted up from 0.90 to 1.08 which is now back in bullish zone.
Highest open interest on call side at 40000 (Remained same as yesterday)
Highest open interest on put side at 38000 (Shifted down from 38500 to 38000)
Shall we continue to expect high volatility till outcome of Jackson Hole meeting?
Shall we look for buy on dips and sell on rise opportunities with suitable SL/TSL?
Please do share your comments. Have a happy, healthy & profitable day ahead!
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