Nifty 50 IndexLong
Nifty Review & Analysis - Daily
Price Action :
Nifty opened at previous day's close and tested pivot level finding buying around 23565 levels and rallied almost 200 points till 23775 levels and saw small profit booking. Post noon saw buying around 23700 levels and tested above 23800 and saw small profit booking towards end of the day loosing momentum. If sustained below 23800 can again test 23700-23730 levels and above 23820 if sustained can test 23950 levels.
Trend:
Nifty formed Higher High and Higher Low suggesting Long Trend
Options Data:
23700-800 Puts added Open Interest showing support. 23700 and 23900 CE shedded OI, don't have much resistance till 24050-100 levels.
Futures Data:
Nifty Futures closed positively with Increase in Open Interest suggesting Bullish
Outlook for Next Session:
Nifty looks Bullish above 23800 for tgt 24000-24050. (for next wkly expiry)
Positons:
Wait for 30min candle close above 23800 to go long for tgt 24000.
Nifty opened at previous day's close and tested pivot level finding buying around 23565 levels and rallied almost 200 points till 23775 levels and saw small profit booking. Post noon saw buying around 23700 levels and tested above 23800 and saw small profit booking towards end of the day loosing momentum. If sustained below 23800 can again test 23700-23730 levels and above 23820 if sustained can test 23950 levels.
Trend:
Nifty formed Higher High and Higher Low suggesting Long Trend
Options Data:
23700-800 Puts added Open Interest showing support. 23700 and 23900 CE shedded OI, don't have much resistance till 24050-100 levels.
Futures Data:
Nifty Futures closed positively with Increase in Open Interest suggesting Bullish
Outlook for Next Session:
Nifty looks Bullish above 23800 for tgt 24000-24050. (for next wkly expiry)
Positons:
Wait for 30min candle close above 23800 to go long for tgt 24000.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.