Before every analysis I always look after the option chain data for Banknifty. I went to sensibull and just shocked 😱😱.
Option chain data is showing almost 1544 lakhs contracts were sold in 35000-35500 call options. So a big pressure and that's the reason market can't go up or gives closing above 35500 mark.
Again a bear market 😐😐🙄🙄.
Intraday level is given in...
Nifty 50 is going to fall. That's for sure. I don't see any support in the recent future. An RSI negative Divergence was at play before the fall. Now a dead Crossover has happened confirming further fall.
Enjoy the Bearish Winter.
The idea is for educational purpose only.
For any Loss, the author is not responsible.
From option chain data we can see
Almost ~65 lakhs contrancts were sold in put side as on 27/12/2021 between 34500-35000
So this range is a great support and market will not break this so easily.
Whereas,
If we see at call side between 35000-35500 almost ~60 lakhs contrancts were sold so this range will be the resistance level for this last exipry of banknifty...
Nifty is in a simple downtrend.
Two Dots of Fibonacci can tell you the next target. Price Regression has given the top which Nifty has reached.
If some new cash printing etc is done, then Price can break this regression channel otherwise I foresee significant selling till 15900.
This is just a chart pattern discussion. Please trade your hard-earned money on...
Sell Zee Ent Fut 316-320 for 300/295/280. Sl near 325-327 range. Breakdown from Ichimoku clouds with MACD falling below 0 line indicates bearish trend to continue.
The most recent bounce is not an impulsive move so maybe it is an x wave and that means one more a-b-c down can follow and waves a and b are already done. Next week should see wave c complete into the year-end. but will it make new lows? The Nifty Elliott wave update with weekly charts and wave counts is already online on indiacharts.com, enjoy my Truth about the Markets
THe weekly price action of Nifty seems to be respecting the Fib retracement crucial zone between 50%-61.8%. There is a daily supply zone co-inciding with the aforementioned Fib zone. Given that the trend as per pivot analysis on weekly time frame is down, and there is an area of resistance around 17250-17500 due to multiple crucial indicators such as Bollinger...
Nifty Broke Long Term Weekly Channel
Trading Around 200 EMA Support Zone
Breakdown of Bear Flag Pattern
Overall Market Looking Bearish and Oversold Zone
Lets Wait and Watch
Nifty
- we have seen 20 day EMA crossing below 50 day EMA
- every attempts to pullback above 50 day EMA went futile
- 200 day EMA currently around 16284
- Last it tested 200 day EMA on 25 September 2020
The way things are set, Nifty has a good probability to test 200 day EMA
Stay cautious and trade light.
Disclaimer
- The view expressed here is my...
Hi everyone, SGXNIFTY50 INDEX analyis on 1D chart recently we`ve seen index breaks it`s daily supoort 17,650 & bounced from 16,800 (level identified from harmonic half-bat pattern level 0.58) too test it`s resistance 17,650 & fall continues if breaks 16,800 can go between (16,300-16,200) and can take bounce & test 16,800 and fall can continue upto 16,000 (level...
