Rahulnirwan
Short

Nifty 17 Aug Analysis

NSE:NIFTY   Nifty 50 Index
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.

Comments

Put additon at 11200, high chances of market going sideways. All waiting for AGR results.
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also expecting fall in relaince due to AGR meeting
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premarket around 78% up. i will suggest till msrket settle. This is not aleining with data. focus on Infra stocks they will be in action today
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