Second Consolidation making a pattern of Broadening Pattern or Megaphone is activated on the downside. It may reach 9956: the previous low to seek support. Trend is down.
A Positive Divergence is developing on major indicators. It is yet to trigger. If it triggers, a small relief rally may come by. But this seems difficult at the moment. Nifty is also making a Falling Wedge pattern.
OI Table: 10000 Put OI is the highest which may provide some support. This is followed by 9500 Put OI which is the second highest. If 10000 is taken out by bears, which seems very likely, the 9500 Put is the next target.
Crude has finished correction below 200 DMA.
A Positive Divergence is developing on major indicators. It is yet to trigger. If it triggers, a small relief rally may come by. But this seems difficult at the moment. Nifty is also making a Falling Wedge pattern.
OI Table: 10000 Put OI is the highest which may provide some support. This is followed by 9500 Put OI which is the second highest. If 10000 is taken out by bears, which seems very likely, the 9500 Put is the next target.
Crude has finished correction below 200 DMA.