Swapilchoksi
Education

Pre-Market Routine - NIFTY - Demand and Supply Zone

NSE:BANKNIFTY   NIFTY BANK

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.
Trade active: STBT
SOLD 8600 PUT @ 38
SOLD 8800 PUT @ 70
Comment:
Comment: FACING RESISTANCE ON DAILY AS WELL AS WEEKLY CHART @ 9320

Comments

I think you've added the chart for banknifty instead of nifty, could you please update this post with the correct chart and levels! Thanks!
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Swapilchoksi constant_variable
@constant_variable, yes u r right...thank x for informing me. I will update the same on my tgram....
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Swapilchoksi constant_variable
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