Is DJI started its downtrend journey? I think it's too early to say this because right now DJI is trading in the consolidation zone. On the upside major resistance @ 22350-23350 and the downside major support @ 15800-16100. Between these two major resistance and support zone, there is also a consolidation zone @ 17000-22500. I am not accepting V shape recovery in...
Nifty closed below it’s demand zone @ 81120-8165. Once it sustains below this zone on Tuesday then it may test its next demand zone @ 7750-7050. Carried short position in option because it will get the benefit of 3 days time decay.
Bank Nifty major demand zone @ 17500-17600. If it sustains below this zone it may test it’s next support @ 16650 and demand zone @ 15300-15600. If it will manage to sustain above it’s demand zone then I may see OTM call and put.
Nifty major demand zone @ 8120-8165 and supply zone @ 8450-8480. If Nifty will sustain below its demand zone then it may test it’s next support @ 7500 and may break the recent bottom. If it will sustain above its demand zone then it may be sideways and I may sell OTM call and put options. Decreasing IV will also help to sink the option premium.
Bank Nifty closed below its major supply zone @ 19300-20000. This is also an important zone on the weekly and monthly charts. Now sustain below this zone Bank Nifty may test its next demand zone @ 17500-17800.
Yesterday Nifty closed above its very short term major supply zone @ 8000-8100. On the upper side next demand zone @ 8250-8330. Once it sustains above this zone it may test it’s next very short term major supply zone @ 8520-8660. It’s not easy to sustain above this zone. In any case, if it will manage to sustain then it may test its next supply zone @ 8880-9000....
As I have mentioned yesterday post that if Nifty sustains below 8050 it may test 7650. Today it closed @ 7610. Now two major demand zones on the long term chart are clearly seen at 7000-7250 and 6300-6500. On the upper side, there are two supply zones @ 7850-8000 and 8250-8350. It will be a good selling opportunity if Nifty will test the upper zone of these...
at trendline support !!!!! let see
crude is down is fundamental positive market panic is near term negative
22970-22330 is a demand zone. Once It will sustain below its upper zone level then it may test 22330 which is a lower level of this zone. On the upper side, 23440-23570 and 24250-24500 are supply zones.
Buy for 230/250 and 300 for longer term
Positive Points: ============== - Stock is trading near its lifetime low. - Also, RSI positive divergence can be seen on the weekly chart. - A bulk deal done by FPI(erstwhile FII) for 256.48 rs. Negative Points: ============= - India is struggling with TRUST factor with some banks like PMC, YesBank etc. Keeping in mind, banks like RBL Bank, may be affected badly.