NIFTY Formed BEARISH ENGULFING Candle What Next..? from 7th Sep
NIFTY Detailed Analysis for next week
The Profit Patterns
Check Previous week analysis in my profile
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OPEN INTEREST ANALYSIS
HIGH OI strike CE - 11500
HIGH OI Strike PE - 11000 (No change)
Next week Range mostly will be in this range only 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- 11500 Strike
R2- 11400 Strike (Near Strike From spot)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11300 (Near Strike From spot)
S2- 11000
As Per Change in OI data 11500 is a strong Resistance
and 11000 is a support. Resistance is clear than support as per
OI data. Change in OI in PE side is less than CE side.
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TECHNICAL ANALYSIS
-Day basis NIFTY formed Bearish Engulfing in 31st August
-Weekly basis 11400 broked and sustained below this level
showing bearish and formed Bearish Engulfing candle in weekly
basis also
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CONCLUSION
Long
If cross above 11700 will create the momentum to reach out 11900/12000
Short
Already Nifty is in Bear mode
can go short with the SL of 11700 may touch further 11150/11050
Strong support is near 11000 if 11k break and sustain below then
10800/10580 will be target trail sl based on that.
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Dear followers,
--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.
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The Profit Patterns
**Trade with your own risk. Views are Personal
-----------------------------------------------------------------
LIKE & FOLLOW To SHOW YOUR LOVE & SUPPORT
The Profit Patterns
Check Previous week analysis in my profile
----------------------------------------------------------------
OPEN INTEREST ANALYSIS
HIGH OI strike CE - 11500
HIGH OI Strike PE - 11000 (No change)
Next week Range mostly will be in this range only 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- 11500 Strike
R2- 11400 Strike (Near Strike From spot)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11300 (Near Strike From spot)
S2- 11000
As Per Change in OI data 11500 is a strong Resistance
and 11000 is a support. Resistance is clear than support as per
OI data. Change in OI in PE side is less than CE side.
-----------------------------------------------------------------
TECHNICAL ANALYSIS
-Day basis NIFTY formed Bearish Engulfing in 31st August
-Weekly basis 11400 broked and sustained below this level
showing bearish and formed Bearish Engulfing candle in weekly
basis also
----------------------------------------------------------------
CONCLUSION
Long
If cross above 11700 will create the momentum to reach out 11900/12000
Short
Already Nifty is in Bear mode
can go short with the SL of 11700 may touch further 11150/11050
Strong support is near 11000 if 11k break and sustain below then
10800/10580 will be target trail sl based on that.
-----------------------------------------------------------------
Dear followers,
--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
**Trade with your own risk. Views are Personal
-----------------------------------------------------------------
LIKE & FOLLOW To SHOW YOUR LOVE & SUPPORT
