Positive Divergence has triggered. The latest consolidation pattern is in the form of a Falling Wedge which has triggered. It may target 10770--top of the pattern. Previous low has lent support to battered bulls.
Nifty has halted at 9 DMA. This level is close to 15 DMA. Real challenge for bulls is to turn the trend up by pushing Nifty beyond 200 DMA --10769.
10397 is the level of Super Trend.
OI Table: 10000 Put strike has the highest OI since last Friday which boosted the spirit of the bulls to increase long position at this strike. Today bulls have created fresh long positions at 10200 Put strike-- second highest OI. So this may provide immediate support in coming days. Bears have taken position at 11000 Call strike--resistance for bulls.
FII+PRO in combined have covered short position of 127198 contracts in Index Options. FII and Proprietary have yet not taken net long positions in (Nifty and Bank Nifty) Index options. But they significantly reduced their shorts today.
Nifty has halted at 9 DMA. This level is close to 15 DMA. Real challenge for bulls is to turn the trend up by pushing Nifty beyond 200 DMA --10769.
10397 is the level of Super Trend.
OI Table: 10000 Put strike has the highest OI since last Friday which boosted the spirit of the bulls to increase long position at this strike. Today bulls have created fresh long positions at 10200 Put strike-- second highest OI. So this may provide immediate support in coming days. Bears have taken position at 11000 Call strike--resistance for bulls.
FII+PRO in combined have covered short position of 127198 contracts in Index Options. FII and Proprietary have yet not taken net long positions in (Nifty and Bank Nifty) Index options. But they significantly reduced their shorts today.