Nifty Outlook - 02-05-19

NSE:NIFTY   Nifty 50 Index
Crud: Crud is trading below $75.60. Its a good sign for the equity market. Maybe cred price range will be $ 70.50 to $75.5 for few days.
Currency: "The currency was not able to sustain above $70. $69.80 is a critical level for currency, below this level I have a bearish view. However, it is a positive sign of currency.

Pivot Table
Resistance 2: 1907.15
Resistance 1: 1849.35
Pivot Point: 11780.7
Support 1: 11722.9
Support 2: 1654.25

Strick Call Writing Put Writing
11600 129675 1701675
11700 1241925 1781700
11800 2481825 214575
11900 1944075 50475

Bottom Line:-
According to The Data:-
According to OI dada Nifty First support at 10700 ( Put writing OI- 1781700) and Major Resistance at 10800 (Call writing OI-2481825)
"According to Technical Chart:-
"According to the chart, NF range will be 10650 to 10770. Big Move can expcted only above or below this range

"Aggressive traders can play in this range. Buy NF near 11670-11680 Stoploss 11650. Sell NF near 11850-11870 with a stop loss of 10800.


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