10138 the low of 11.10.18 is coming. Sold on rise -- this is the strategy followed by traders. This confirms prevailing down trend. Below 10138, prominent indicators will develop Positive Divergences on daily chart as well as WEEKLY chart (Nifty crashed due to negative divergences on daily and weekly charts on RSI Stochastics and Woodys CCI indicators) which will caution the bears. This will also make the Megaphone pattern almost complete. Yet 9940 is the previous low. So if bears are fearless, they can push Nifty to this level completing 100% retracement.
OI Table: As of now bulls will find it quite difficult to push Nifty anywhere near 10500. Today bulls have built some increased position at 10000 Put strike and also at 10200 Put strike. Hence we may see a little pause in slide near 10200.
Crude is hovering at 200 DMA.
OI Table: As of now bulls will find it quite difficult to push Nifty anywhere near 10500. Today bulls have built some increased position at 10000 Put strike and also at 10200 Put strike. Hence we may see a little pause in slide near 10200.
Crude is hovering at 200 DMA.