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Nifty_short

Nifty Levels & Strategy for 24/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Nifty is continuously trying to move-up & hit new lifetime high. Big players have long positions (mainly PE writing) as well as short positions (mainly CE writing). They are ready on both the sides. Gap-up is likely to be sold & vice-versa. It looks like once again we are heading for another range bound expiry. We should continue with profit booking/option writing at higher level as well as lower level with strict SL. Option writers are really doing exceptionally well. Option buyers need to be very careful and wait patiently for breakout or breakdown opportunities. Please find below scorecard, PCR update & options statistics for your reference: NIFTY SCORECARD DATED 23/NOV/2022 NIFTY IS UP BY 23 POINTS Name Price Previous Day Change % Change Nifty 18267 18244 23.05 0.13% India VIX 14.04 13.84 0.20 1.44% OPTION STATISTICS BASED ON 24/NOV/2022 EXPIRY DATA Max OI (Calls) 18300 (Open Interest: 14427300, CE LTP: 24.8) Max OI (Puts) 18000 (Open Interest: 9500950, PE LTP: 3.1) PCR 0.76 (PCR is in bearish zone) Nifty Calls: ATM: Long Liquidation, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Long Liquidation Nifty Puts: ATM: Short Buildup, OTM:Long Liquidation, ITM:Short Covering, FAR OTM:Long Liquidation
NSE:NIFTY
by manishmgupta
Nifty a fall seems likely In my last post I made a forecast that the 8440 (Final Target) mark should be achieved by Nifty for the completion of Wave B and as you might have noticed, Nifty not only achieved the target level of 8440 it never gave a close above the 8440 mark. As of now I will still hold my previous view and as per the prevailing count the last Wave C is still to unfold which should see the minimum downward movement uptill 7680. Short positions can be created with taking a stoploss above the 8440 region, the Risk to Reward is strongly in the traders favour and I believe that the trade is worth taking. In the bigger picture Nifty still looks to be in a Triple Zig Zag formation. I will update the view if need arises in a later post.
NSE:NIFTYShort
by NeeravYadav
2
Nifty - Looks like a fall is on the cards(Elliott Wave Analysis)Here I'm giving my short term view on Nifty 50 using Elliott Wave Analysis. As you can see the structure is that of a Triple Zig Zag and currently we are in the last leg of this Complex Correction. I believe there is a high probability that Nifty will give a reversal b/w 8340 to 8370, if not then T3 : 8440 will be on cards. STRATEGY : Wait for reversal. Sell for T1 : 7680 (Wave C MiNIMUM TARGET) I will discuss further targets in a later post. Point of Invalidation : 8600, If Nifty goes above this level without giving a correction then I will have to redo the counts.
NSE:NIFTYShort
by NeeravYadav
3