Nifty 50 IndexShort
Nifty 17 Aug Analysis
Global markets are up so expecting nifty to open 40-50 point gapup but after that it will face a sell off from higher level.
On friday we have seen massive call writing at 11200 levels that will act as higher resistance for the nifty.
Also some put writting can be seen at 11000 level nifty will take resistance their.
PCR have decreaased by around -15.99% which also indicates weakness in market.
Not expecting high movement tommorow we will be seeing range between 11100 - 11200.
Personally I will be creating short position near 11190-11200 level with small SL of 11245 with a target of 11115 with R:R of 1:2.
On friday we have seen massive call writing at 11200 levels that will act as higher resistance for the nifty.
Also some put writting can be seen at 11000 level nifty will take resistance their.
PCR have decreaased by around -15.99% which also indicates weakness in market.
Not expecting high movement tommorow we will be seeing range between 11100 - 11200.
Personally I will be creating short position near 11190-11200 level with small SL of 11245 with a target of 11115 with R:R of 1:2.
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