Nifty- Bearish Engulfing candle faces resistance at 100EMA
Nifty made a large red candle on friday...engulfing the doji made on thursday. Candle's high was resistance of 100EMA and closed at 17k which is a critical support.
PCR at 0.87 indicates that option writers are still more comfortable selling a call option.
FII -715cr and DIIs -43cr both sold on friday -its profit booking or cashing in before elections -whatever else the reason maybe--if this continues for another few sessions, then we might see some steep movement.
Next support levels below 17k are marked on the charts.
For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Monday 27Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
PCR at 0.87 indicates that option writers are still more comfortable selling a call option.
FII -715cr and DIIs -43cr both sold on friday -its profit booking or cashing in before elections -whatever else the reason maybe--if this continues for another few sessions, then we might see some steep movement.
Next support levels below 17k are marked on the charts.
For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Monday 27Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
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