vashishthviraaj

NIFTY 50 13-07-2021 Analysis

Long
NSE:NIFTY   Nifty 50 Index
So Nifty 50 is looking very bullish and it can also give a gap up opening because of some factors that I will tell you. these are;
1. There is a perfect green hammer in the weekly chart and the daily chart as well.
2. After analyzing the option chain we saw that the call writers exited their shorts in huge and amount and their is a short buildup heavily on the bullish side.
3. The PCR is 0.8 which is also indicating a slight oversold market.
4. The nifty has gave a great closing of above the dangerous level of 15800 which is a very bullish sign.
Now there is no major support or resistance levels in the market and the view is highly bullish .
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.