Ramesh0296

NIFTY Range For 6 August DO NOT MISS IT!

NSE:NIFTY   Nifty 50 Index
NIFTY RANGE FOR TOMORROW 06,Aug 2020
Nifty Today Close 11101

PRICE ACTION ANALYSIS
Today Nifty Made high of 11225 and low of
11065 then close at 11101 which shows the
Selling pressure on High.

High to close - 124 points down
Low to close - 36 points up
i.e Bear Power is 3X+ more than Bull power
BEARISH

NIFTY FUT (AUG) close - 11132
Future made High of 11226 and low of 11063
and closed at 11132

High to close - 94 points down
Low to close - 69 points up
i.e Bear Power is 1x+ Only in future

OPEN INTEREST ANALYSIS
SPOT ATM - 11100
HIGH CE OI- 11000 (Support)
HIGH PE OI- 11200 (Resistance)

CHANGE IN OPEN INTEREST ANALYSIS

OTM CONTRACTS

HIGHEST CHANGE STRIKE cE- 11200 IN THIS STRIKE 21800 CONTRACTS ADDED WILL ACT AS RESISTANCE FOR TOMORROW
In CE side lot of new contracts are added in each strike is more than than PE side

HIGHEST CHANGE STRIKE PE - 11100 IN THIS STRIKE 10900+ CONTRACTS ADDED WILL ACT AS SUPPORT
Below this not much contracts added in PE side no lack of support
BEARISH BIAS

ITM CONTRACTS


PE SIDE FRESH CONTRACTS ADDED IN ITM SIDE AND CE SIDE NO MUCH FRESH CONTRACTS AND ALSO BELOW 11.1K STRIKE EARLIER CONTRACTS ARE EXITED
BEARISH BIAS

CONCLUSION
BEARISH
Range expectation No more upside beyond 11150 lower side 11070/11030/11000

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Comments

Very good analysis. 👍👍
Reply
@pbirla, Thankyou :-)
Reply
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