Nifty opened Falt in line with global cues and saw buying from opening making a high of 22577 then to find some profit booking to close at 22509, 0.5% above previous day’s close.
Price Action : - Bullish
Nifty closed 0.5% in positive.
Candle Pattern:
Formed a Big Green candle with a small wick on uopside.
Daily EMA Positioning:
10dEMA 22476
20dEMA 22601
50dEMA 22999
200dEMA 23410
EMA Trend:
Closed above 10dEma finding resistance at 20dEma,
Daily MA suggests Selling
Hourly suggests Buy
15mins Suggests Strong Buy
The momentum indicator, RSI - Relative Strength Index rising above 42
Support/Resistance Levels:
Major Support 22400
Immediate Support 22300
Immediate Resistance 22580
Major Resistance 22750
Trend:
Overall Trend is Slight Bullish above 22600
Daily Options Activity:
Highest CE OI was at 23000 with highest addition at 22800 - Resistance
Highest PE OI was at 22000, highest Put writing seen at 22500, 22300 - support
PCR is 1 indicating slight positive
Daily Futures Activity FII + Pro F&O Data:
FII Long/Short ratio at 21%/79% indicating slowly addition of Longs by FIIs
Change in Futures OI:
FII Future positions saw little addition in longs +2K with -1K change in shorts
Nifty Futures price was slightly higher with no major OI addition
Observation:
Overall looks a positive consolidation day above 22500, with good PE addition at 22500 can see
higher levels if 22580 taken out for targets 22700-800 in currents wkly series
Overall Trend:
Sideways consolidating turning positive
Outlook for Next Session:
Nifty looks strong above 22580 for tgt 22750-800
Approch & Strategy:
Long above 22580 for tgt 22750-800
My Trades & Positions:
Holding Longs from 22450 levels
Price Action : - Bullish
Nifty closed 0.5% in positive.
Candle Pattern:
Formed a Big Green candle with a small wick on uopside.
Daily EMA Positioning:
10dEMA 22476
20dEMA 22601
50dEMA 22999
200dEMA 23410
EMA Trend:
Closed above 10dEma finding resistance at 20dEma,
Daily MA suggests Selling
Hourly suggests Buy
15mins Suggests Strong Buy
The momentum indicator, RSI - Relative Strength Index rising above 42
Support/Resistance Levels:
Major Support 22400
Immediate Support 22300
Immediate Resistance 22580
Major Resistance 22750
Trend:
Overall Trend is Slight Bullish above 22600
Daily Options Activity:
Highest CE OI was at 23000 with highest addition at 22800 - Resistance
Highest PE OI was at 22000, highest Put writing seen at 22500, 22300 - support
PCR is 1 indicating slight positive
Daily Futures Activity FII + Pro F&O Data:
FII Long/Short ratio at 21%/79% indicating slowly addition of Longs by FIIs
Change in Futures OI:
FII Future positions saw little addition in longs +2K with -1K change in shorts
Nifty Futures price was slightly higher with no major OI addition
Observation:
Overall looks a positive consolidation day above 22500, with good PE addition at 22500 can see
higher levels if 22580 taken out for targets 22700-800 in currents wkly series
Overall Trend:
Sideways consolidating turning positive
Outlook for Next Session:
Nifty looks strong above 22580 for tgt 22750-800
Approch & Strategy:
Long above 22580 for tgt 22750-800
My Trades & Positions:
Holding Longs from 22450 levels
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.