📈 NIFTY continues its upward trend, while Banknifty indicates signs of profit booking.
📊 Chart Analysis: NIFTY exhibits a hanging man, while BANKNIFTY shows a bearish engulfing, suggesting a potential pause or dip.
📈 Open Interest: Option chain remains neutral with support at 20900 and resistance at 21000.
🔄 PCR (Put-Call Ratio): PCR at 0.8 indicates a neutral sentiment.
💹 FII Option Activity: Net positive as 2L calls and 1.7L puts bought.
📉 FII Futures Data: Bullish trend with a 2000 Crores buy; Overall OI turned positive at 23K qty.
💼 FII Stock Data: Minor 80 Cr sell, indicating a relatively small impact.
Nifty important levels to watch are as follows
#Support: 20850
Sell below: 20850 only on 15 minute candle closure below the level. Target 1: 20785 Target 2: 20665
#Resistance: 20970
Buy Above: 20970 only on 15 minute candle closure Above the level. Target 1: 21040 Target 2: 21150
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.