NIFTY - MONTHLY EXPIRY ANALYSIS
AS PER THE FUTURES DATA IN THE ORDERFLOW THERE ARE NET LONG POSITIONS IN THE MARKET INDICATING A BIT STRENGTH IN THE INDEX.
MARKET HAS FILLED THE GAP AREA OF 11405-11535 LEVELS AND DECISIVELY BROKEN AND CLOSED ABOVE THE RESISTANCE AREAS. NOW ON THE UPSIDE 11600 LEVELS WILL ACT AS A MAJOR RESISTANCE AREA ABOVE WHICH MARKET CAN RALLY UPTILL 11650-11700 LEVELS.
ON THE DOWNSIDE 11520-11500 LEVELS ARE IMMIDIATE SUPPORT AREAS, BELOW WHICH 11465 AND 11405 ARE THE MAJOR SUPPORTS.
OPTION CHAIN ANALYSIS -
THERE HAS BEEN GOOD PUT WRITING AND CALL UNWINDING AT 11500 STRIKE WHICH CAN BE MAKE // BREAK LEVEL FOR THE INDEX FOR EXPIRY AS OF NOW.
11800 HAS EXPIRENECED CALL UNWINDING WHICH IS KIND OF UNUSUAL AND GOOD CALL WRITING AT 11600 LEVELS WHICH WILL ACT AS A RESISTANCE AREA FOR TOMORROW.
INTRADAY RESISTANCE & SUPPORT AREAS
SUPPORT - 11520 - 11500 // 11440-11475 // 11405-11390 // 11305 - 11290
RESISTANCE - 11600
I FIND THE INDEX AT ALARMING VALUATIONS AS THE PE RATIOS ARE AT ALL TIME HIGH OF 32+
CAUTIONS —- (BE CAREFUL WHILE TRADING AS ANYTIME MARKET CAN MAKE PROFIT BOOKING)
AS PER THE FUTURES DATA IN THE ORDERFLOW THERE ARE NET LONG POSITIONS IN THE MARKET INDICATING A BIT STRENGTH IN THE INDEX.
MARKET HAS FILLED THE GAP AREA OF 11405-11535 LEVELS AND DECISIVELY BROKEN AND CLOSED ABOVE THE RESISTANCE AREAS. NOW ON THE UPSIDE 11600 LEVELS WILL ACT AS A MAJOR RESISTANCE AREA ABOVE WHICH MARKET CAN RALLY UPTILL 11650-11700 LEVELS.
ON THE DOWNSIDE 11520-11500 LEVELS ARE IMMIDIATE SUPPORT AREAS, BELOW WHICH 11465 AND 11405 ARE THE MAJOR SUPPORTS.
OPTION CHAIN ANALYSIS -
THERE HAS BEEN GOOD PUT WRITING AND CALL UNWINDING AT 11500 STRIKE WHICH CAN BE MAKE // BREAK LEVEL FOR THE INDEX FOR EXPIRY AS OF NOW.
11800 HAS EXPIRENECED CALL UNWINDING WHICH IS KIND OF UNUSUAL AND GOOD CALL WRITING AT 11600 LEVELS WHICH WILL ACT AS A RESISTANCE AREA FOR TOMORROW.
INTRADAY RESISTANCE & SUPPORT AREAS
SUPPORT - 11520 - 11500 // 11440-11475 // 11405-11390 // 11305 - 11290
RESISTANCE - 11600
I FIND THE INDEX AT ALARMING VALUATIONS AS THE PE RATIOS ARE AT ALL TIME HIGH OF 32+
CAUTIONS —- (BE CAREFUL WHILE TRADING AS ANYTIME MARKET CAN MAKE PROFIT BOOKING)