Nifty might open negative today on the basis of weak global conditions but its still a BUY ON DIPS MARKET considering the OI analysis mentioned in the last post and also the serious buying of DIIs even though the FIIs are selling too much, shows some great confidence in the market.
Currently, 9900 PUT is heavily written and the PUT CALL RATIO is on the continuous rise.
So the 9900 is considered to be a good support level but also to be mentioned is the fact that the 10000 level might need some consolidation to get breached. So for now hold the longs and buy on dips is the strategy.
SUPPORT - 9900
UP MOVE KEY LEVEL - 9847
Currently, 9900 PUT is heavily written and the PUT CALL RATIO is on the continuous rise.
So the 9900 is considered to be a good support level but also to be mentioned is the fact that the 10000 level might need some consolidation to get breached. So for now hold the longs and buy on dips is the strategy.
SUPPORT - 9900
UP MOVE KEY LEVEL - 9847
