Nifty: Tuesday - 01/11/22

Oct 31, 2022

Levels:
Support: 17980, 17950, 17835
Resistance: 18020 (the current level), 18080-18100
OI Data:
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Nifty => Price: 18012.2
ATM: 18000 , ITM: 17950, 17900, 17850 , OTM: 18050, 18100, 18150
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Highest OI Call in Nifty per OI data: 18000 (6M)
Highest OI Put in Nifty per OI data: 17800 (5.7M)
Nearest Major Resistance in Nifty per OI data: 18100 (3.5M)
Nearest Major Support in Nifty per OI data: 18000 (4.8M)
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Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pulls back to the level and unable to pass through the level as resistance).
3. Nifty next major resitance is 18090 (~18100) level.

+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 18030 | 17980 | 17100 | 17150
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SELL | < 17950 | 18000 | 17850 | 17800
+++++++++++++++++++++++++++++++++++++++++