After a day of rest yesterday, bulls charged today. A gain of 188 points. Bulls are prompted by Positive Divergence and Falling Wedge.
OI Table: Bulls have been building strong support at 10000 Put strike (highest OI) and recently at 10200 Put strike -- second highest OI.
Bears are holding onto 11000 Call strike which bulls will find tough nut to crack. Bull may face some resistance at 10700 and 10900 Call strikes. This is corroborated by resistance of 200 DMA which at present is at 10766.
5 DMA is crossing 9 DMA on the upside, which can indicate to strong bullish undertone.
Crude is ruling below 200 DMA. But Crude can speed up again. Experts expect Crude to cross and stay above 100 dollars a barrel.
OI Table: Bulls have been building strong support at 10000 Put strike (highest OI) and recently at 10200 Put strike -- second highest OI.
Bears are holding onto 11000 Call strike which bulls will find tough nut to crack. Bull may face some resistance at 10700 and 10900 Call strikes. This is corroborated by resistance of 200 DMA which at present is at 10766.
5 DMA is crossing 9 DMA on the upside, which can indicate to strong bullish undertone.
Crude is ruling below 200 DMA. But Crude can speed up again. Experts expect Crude to cross and stay above 100 dollars a barrel.
Comment:
One more thing: Super Trend-- Nifty today has stopped exactly at Super Trend level ie. 10386.