Rahulnirwan

Nifty Analysis for 20 Apr 2020

NSE:NIFTY   Nifty 50 Index
Nifty or we can say whole market was seen range bound for last two days (although some movement can be seen at around 2 PM IST), expecting same for tomorrow as well.
Today high 11460 will act as a prominent resistance for nifty .
More downside can be expected below 11400 and it will act as a make or break level. Also 11359 can be seen as the support level from where nifty can bounce back.
Decrease of 10.07% in PCR also suggest weakness of nifty .

Some major downside movement can seeen in major stocks like Reliance and HDFC as well.

Any ways not seeing any firework so will be shorting 11450 CE and 11300 PE tomorrow.

Comments

Data changes overnight . Nifty will fall and expiry can be expected at 11250 level.
Personally Sold 11300 CE at 40.
Reply
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