Price Action :
Nifty made another new low for the year down -1%
Technicals:
Nifty opened gap down and continued weakness below 22700 to close at 22550 forming a bearish candle below 5,10,20,50,100 & 200 DEMA
The momentum indicator, RSI - Relative Strength Index closed below 30 showing weakness
Support/Resistance
Major Support 22300
Immediate Support 22500
Immediate Resistance 22650
Major Resistance 22700, 22800, 23000
Trend:
Overall Trend is Bearish sideays
Options Data:
Highest CE OI was at 23000 with highest addition at 22600, 22700 & 22800 - Resistance
Highest PE OI was at 22500, highest Put writing seen at 22500, 22300 - No major support
PCR is 0.6 which indicates Bearishness
Futures Data:
FII Long/Short ratio at 15.5%/84.5%
FII Future positions saw little addition in longs and exiting shorts
Nifty Futures price was down by -1% with huge increase in Open Interest (OI) which typically indicates Bearishness
Outlook for Next Session:
Nifty is weak Sell on every rise
Approch:
Short at higher levels for target 22400-22300
Wait for today’s High or Low to break and sustaines for further direction
My Trades & Positions:
Holding Shorts in March monthly contract from 22850 levels
Nifty made another new low for the year down -1%
Technicals:
Nifty opened gap down and continued weakness below 22700 to close at 22550 forming a bearish candle below 5,10,20,50,100 & 200 DEMA
The momentum indicator, RSI - Relative Strength Index closed below 30 showing weakness
Support/Resistance
Major Support 22300
Immediate Support 22500
Immediate Resistance 22650
Major Resistance 22700, 22800, 23000
Trend:
Overall Trend is Bearish sideays
Options Data:
Highest CE OI was at 23000 with highest addition at 22600, 22700 & 22800 - Resistance
Highest PE OI was at 22500, highest Put writing seen at 22500, 22300 - No major support
PCR is 0.6 which indicates Bearishness
Futures Data:
FII Long/Short ratio at 15.5%/84.5%
FII Future positions saw little addition in longs and exiting shorts
Nifty Futures price was down by -1% with huge increase in Open Interest (OI) which typically indicates Bearishness
Outlook for Next Session:
Nifty is weak Sell on every rise
Approch:
Short at higher levels for target 22400-22300
Wait for today’s High or Low to break and sustaines for further direction
My Trades & Positions:
Holding Shorts in March monthly contract from 22850 levels
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.