ParimalDevnath
Education

Nifty, 100 SDMA

NSE:NIFTY   Nifty 50 Index
Day of high volatility . Bulls tried four times to give a breakout of the Contracting Triangle. Nifty halted at 100 DMA.
On OI Table there has not been any big change from yesterday. Both sides are equally ready with their writing of Puts and Calls almost of the same quantity. 10700 Put has 3825525 shares whereas 11000 Call has 3814275. Bulls have a little upper hand though. Bears are not easily giving up either.
It is a Hammer Candlestick .
If breakout happens, bulls will face at least three resistances: i) 10919, ii) 10985, and iii ) Golden Ratio (of the fall from 11760 to 10005) at 11085.
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