Hello,
Nifty was taking support @ 11850 which is 18th April high and also its a 20 DMA level.
Yesterday Nifty was not able to sustain above this level and closed below 11850. I think It's a first bearish sign.
If Nifty will not sustain above 11850-11870 then another lower range will open which is 11850 to 11750 (11750 is August 2018 High). If you see the intraday chart then Nifty is making lower highs.
There is a strong call writing on 11900 (OI: 21,88,725) and 12000 (OI: 2171400) another side maximum put witing on 11800 (OI: 10,78,125).
So according to the data market is not in bulls control.
AS I share the levels for the global market in my previous post. DJI and HSI are also not able to sustain above their major resistance levels.
Yesterday currency closed @ 69.813 which is a breakout of its sideways zone.
Thank x
Nifty was taking support @ 11850 which is 18th April high and also its a 20 DMA level.
Yesterday Nifty was not able to sustain above this level and closed below 11850. I think It's a first bearish sign.
If Nifty will not sustain above 11850-11870 then another lower range will open which is 11850 to 11750 (11750 is August 2018 High). If you see the intraday chart then Nifty is making lower highs.
There is a strong call writing on 11900 (OI: 21,88,725) and 12000 (OI: 2171400) another side maximum put witing on 11800 (OI: 10,78,125).
So according to the data market is not in bulls control.
AS I share the levels for the global market in my previous post. DJI and HSI are also not able to sustain above their major resistance levels.
Yesterday currency closed @ 69.813 which is a breakout of its sideways zone.
Thank x
Comment:
Perfect...Nifty made a low of 11657
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