indiamarketoutlook

Nifty Chart Setup & view: Game of Positions

NSE:NIFTY   Nifty 50 Index
Nifty
CMP 10804

Observation

- On 6th July Nifty opened with a big gap up at 10723 & since then it has been trading in a mini range. This is the battle ground where the Bulls & Bears fight is going on...

- F&O data analysis also suggested Game of Positions going on in this region. We observed wild swings in Futures & Options position by Retail participants and FIIs during this week.

I m not particularly bullish on the market but this is how I am looking at Nifty

Given the set up, the structure has a high probability to give a breakout or break down from this range by Wednesday / Thursday next week

- On Breakdown Target for the setup 10230

- On Breakout target for the setup 11224

Again this is just my view and we can take this discussion forward if it actually happens that way :-)

Take care & plan your trade accordingly..!!!


Comment: Time 12:18pm


Given the set up consider selling Nifty 10900 Call option between 65-82.50

CMP 68