In the last week, Nifty was just consolidating. The breakout of this consolidation will give a really good upmove in nifty of 200 to 300 points.
Nifty can go upto 15500 levels. According to weekly and monthly expiry, highest call writing is seen at 15500 level. So once this consolidation breaks, nifty can reach till this level.
On the other hand, according to the technicals, nifty has a strong support at 15000 levels. Also according to the option chain data 15000 has the highest OI. When the technicals and option chain data matches, then that level becomes a key level. So for the coming week, nifty should not break 15000 level.
If buy any chance this level is broken, then the next major support level is 14750 and 14500. The chances are very less for nifty to go below this level.
Indiavix is around 22 and PCR of nifty is around 1.38. So as of now there is no sign of bearishness in the market. So look for good buying opportunities where risk to reward ratio is favourable.
Nifty can go upto 15500 levels. According to weekly and monthly expiry, highest call writing is seen at 15500 level. So once this consolidation breaks, nifty can reach till this level.
On the other hand, according to the technicals, nifty has a strong support at 15000 levels. Also according to the option chain data 15000 has the highest OI. When the technicals and option chain data matches, then that level becomes a key level. So for the coming week, nifty should not break 15000 level.
If buy any chance this level is broken, then the next major support level is 14750 and 14500. The chances are very less for nifty to go below this level.
Indiavix is around 22 and PCR of nifty is around 1.38. So as of now there is no sign of bearishness in the market. So look for good buying opportunities where risk to reward ratio is favourable.