Nifty today looked bullish and closed above 11900, a crucial level where Bulls and Bears were equally poised. Nifty closed 55 points up and finished as a base like green candle. Please also check my youtube video under name Market Movers India with similar but slightly more content for daily levels.FIIs were Net Sellers today by 915 Crs and DIIs were Net Buyers by 262 Crs. The final data shows that FIIs were net sellers yesterday in all segments- equity, index futures and stock futures.
Option chain data shows impressive OI on PUT side. With highest total OI and highest fresh Put writing, 11900 is likely to work as decent support tomorrow. 11800 has 2nd highest total OI so it will work as secondary support. On CALL side, highest total OI is at 12000 so it will work as resistance even though there is Call unwinding there today. In fact, Call unwinding is seen on all key strikes of 11900, 11950 & 12000. Still, I would put 12000 as decent resistance.
On daily chart, Nifty finished as a base-like green candle with higher high, higher low and higher closing price than yesterday’s candle. Since it is looking bullish, buying levels are given on 15 min chart. There is no clear cut selling level For Nifty.
All the best. Happy trading.
Option chain data shows impressive OI on PUT side. With highest total OI and highest fresh Put writing, 11900 is likely to work as decent support tomorrow. 11800 has 2nd highest total OI so it will work as secondary support. On CALL side, highest total OI is at 12000 so it will work as resistance even though there is Call unwinding there today. In fact, Call unwinding is seen on all key strikes of 11900, 11950 & 12000. Still, I would put 12000 as decent resistance.
On daily chart, Nifty finished as a base-like green candle with higher high, higher low and higher closing price than yesterday’s candle. Since it is looking bullish, buying levels are given on 15 min chart. There is no clear cut selling level For Nifty.
All the best. Happy trading.