Nifty strategy for 17 November
For Educational purpose only,
Today the market has made a high of 18436 and a low of 18357. In daily TF, market has formed a spinning top pattern (on top of uptrend) and a M pattern in 15 min TF, this can be a sign of reversal.
Market opening near 18390;
1. If dow futures are -ve & falling and there is higher call writing in the zones of 18400 & 18350 then the levels of 18357 & 18318 can be tested.
2. If dow futures are +ve & rising and there is higher put writng in the zones of 18400 & 18450 then the levels of 18436 & 18476 can be tested.
Breakout of 18436 level;
If dow futures are +ve & rising and there is higher put writng in the zones of 18450 & 18500 then the levels of 18476 & 18516 can be tested.
Breakdown of 18357 level;
If dow futures are -ve & falling and there is higher call writing in the zones of 18350 & 18300 then the levels of 18318 & 18278 can be tested.
Today the market has made a high of 18436 and a low of 18357. In daily TF, market has formed a spinning top pattern (on top of uptrend) and a M pattern in 15 min TF, this can be a sign of reversal.
Market opening near 18390;
1. If dow futures are -ve & falling and there is higher call writing in the zones of 18400 & 18350 then the levels of 18357 & 18318 can be tested.
2. If dow futures are +ve & rising and there is higher put writng in the zones of 18400 & 18450 then the levels of 18436 & 18476 can be tested.
Breakout of 18436 level;
If dow futures are +ve & rising and there is higher put writng in the zones of 18450 & 18500 then the levels of 18476 & 18516 can be tested.
Breakdown of 18357 level;
If dow futures are -ve & falling and there is higher call writing in the zones of 18350 & 18300 then the levels of 18318 & 18278 can be tested.
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