NIFTY: Last 3 days formed DOJis with small body and it shows indecisiveness in the market.
For NIFTY to take a direction either it should hold above 19664-750 doe a bullish march towards 20000 or a close below 19200 would drag it down to 19000 and below 19000 on a closing basis would trigger a huge sell off towards 18800.Huge Put unwinding at 19600 and call writing at 19500-600 suggests it would not be an easy task for NIFTY to breach 19600 in the near time weekly expiry.19410-440/321 are the short term support levels and the major support lies at 19200-230
As amidst Israel war threat it is expected to remain volatile and side ways with sharp swings on both sides in a narrow range. Any ubnormal surge in Crude oil pricing would add to volatality and sell off.Seems its would be a better option to remain silent till the index gives direction
For NIFTY to take a direction either it should hold above 19664-750 doe a bullish march towards 20000 or a close below 19200 would drag it down to 19000 and below 19000 on a closing basis would trigger a huge sell off towards 18800.Huge Put unwinding at 19600 and call writing at 19500-600 suggests it would not be an easy task for NIFTY to breach 19600 in the near time weekly expiry.19410-440/321 are the short term support levels and the major support lies at 19200-230
As amidst Israel war threat it is expected to remain volatile and side ways with sharp swings on both sides in a narrow range. Any ubnormal surge in Crude oil pricing would add to volatality and sell off.Seems its would be a better option to remain silent till the index gives direction
Comment:
TGT 1 19664 Done and seems all set to test its next TGT 19750 followed by 19800-900 +