Nifty 50 IndexEducation
Nifty
Nifty is yet to meet the significant support level of 200 DMA (10767). There seems to be Short Covering that has pushed the price up on last session. OI Table: Bulls have built strong positions at 10500 Put, 10800 Put (Highest OI position -- Nifty on Monday came down to 10812 and moved up) and 11000 Put (closing of Monday was 11008). Nifty recovered all 200 points.
Resistance has been built by bears at 11500 Call OI. So OI Table gives a slightly bullish scenario in the immediate term.
In short, Nifty may take support again at the range of the 10860 and will face resistance at 11250.
MA study: Nifty halted at 5 DMA. For the last 7 sessions Nifty is moving around 100 DMA. This needs to be resolved -- either of the sides.
Resistance has been built by bears at 11500 Call OI. So OI Table gives a slightly bullish scenario in the immediate term.
In short, Nifty may take support again at the range of the 10860 and will face resistance at 11250.
MA study: Nifty halted at 5 DMA. For the last 7 sessions Nifty is moving around 100 DMA. This needs to be resolved -- either of the sides.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.