NIFTY DETAILED ANALYSIS
PRICE ACTION,OPEN INTEREST & CHANGE IN OI, TECHNICAL ANALYSIS
Previous trading day Nifty open at 11410
Made high of 11419 and
low of 11362 then
closed at 11372
which showed the Selling pressure on top and also
little buying pressure from bottom
High to close - 47 points down from day's high
Low to close - 10 points up from day's low
i.e BEAR Power is 4.7X+ more than BULL power
BEARISH BIAS AS PER PRICE ACTION LET'S CHECK WITH OTHERS
LAST TRADING DAY RANGE ALSO TOO NARROW RANGE WITHIN 60PTS
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OPEN INTEREST ANALYSIS
HIGH OI strike CE - 11500
HIGH OI Strike PE - 11000 (No change)
Next week remaining days Range Probability - 11000 to 11500
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CHANGE IN OPEN INTEREST ANALYSIS
High change in OI in CE strike as per Option data will act
as a major Resistance
R1- 11600
R2- 11700
R3- 11500 (NEAR FROM SPOT)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11300 (NEAR FROM SPOT)
S2- 11200
As Per Change in OI data Near support is 11300 is stronger than
Near Resistance showing BULLISH BIAS
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TECHNICAL ANALYSIS
Day basis trend line broken and closed below 11380
Weekly basis trend line taken support still not broke wait for
break and sustain below it to sell check levels below in
conclusion part
CONCLUSION
If sustain above 11380 to move further to 11425/11460
other wise it will come down to 11200 will be a Good support
If sustain below 11300 may fall further to 11200/11100 zone
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The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
Dear Traders,
--Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately.
--Sustain means price should need to spend on time in our buy or sell level, then only enter.
--My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid.
--For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame.
--Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one
--Patience most important. Be patient and do the right things continuously the right one will come.
----------------------------------------------------------------
The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
PRICE ACTION,OPEN INTEREST & CHANGE IN OI, TECHNICAL ANALYSIS
Previous trading day Nifty open at 11410
Made high of 11419 and
low of 11362 then
closed at 11372
which showed the Selling pressure on top and also
little buying pressure from bottom
High to close - 47 points down from day's high
Low to close - 10 points up from day's low
i.e BEAR Power is 4.7X+ more than BULL power
BEARISH BIAS AS PER PRICE ACTION LET'S CHECK WITH OTHERS
LAST TRADING DAY RANGE ALSO TOO NARROW RANGE WITHIN 60PTS
-----------------------------------------------------------------
OPEN INTEREST ANALYSIS
HIGH OI strike CE - 11500
HIGH OI Strike PE - 11000 (No change)
Next week remaining days Range Probability - 11000 to 11500
-----------------------------------------------------------------
CHANGE IN OPEN INTEREST ANALYSIS
High change in OI in CE strike as per Option data will act
as a major Resistance
R1- 11600
R2- 11700
R3- 11500 (NEAR FROM SPOT)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11300 (NEAR FROM SPOT)
S2- 11200
As Per Change in OI data Near support is 11300 is stronger than
Near Resistance showing BULLISH BIAS
-----------------------------------------------------------------
TECHNICAL ANALYSIS
Day basis trend line broken and closed below 11380
Weekly basis trend line taken support still not broke wait for
break and sustain below it to sell check levels below in
conclusion part
CONCLUSION
If sustain above 11380 to move further to 11425/11460
other wise it will come down to 11200 will be a Good support
If sustain below 11300 may fall further to 11200/11100 zone
----------------------------------------------------------------
The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
Dear Traders,
--Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately.
--Sustain means price should need to spend on time in our buy or sell level, then only enter.
--My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid.
--For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame.
--Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one
--Patience most important. Be patient and do the right things continuously the right one will come.
----------------------------------------------------------------
The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
