Pre-Market Routine - NIFTY - Demand and Supply Zone

Apr 19, 2020

Last week's short term intraday strong demand zone was @ 8650-8850. Now it is shifted to 8850-9100.

*On the upper side 9360-9500 is a supply zone and 9675-9820 is a major supply zone on a short term time frame.

*According to the option OI data max call writes are @ 9500 and max ut writers @ 9000.

*According to the data and supply and demand zone 8850-9100 is a strong support zone and I am not expecting this week to expiry below 9000.

*I believe that there are major supply zones on a higher time frame and Nifty may face some difficulty to sustain above that level and may not get a follow-through in intraday trade. So I will go with OTM option writing instead of Fut buying.

Apr 19, 2020

Trade active

STBT
SOLD 8600 PUT @ 38
SOLD 8800 PUT @ 70

Apr 20, 2020

Note

Apr 20, 2020

Note

FACING RESISTANCE ON DAILY AS WELL AS WEEKLY CHART @ 9320