Database and Option TradingOptions data captures information on options contracts, including pricing and trading volumes, useful for investment strategies. Discover our guide and top options data providers.
Simply put, when Open Interest increases, it means more money is moving into the futures contract, and when open interest drops, it means money is moving out of the contract. One can draw inference from this example.
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TITAN Long
#TITAN, Something BIG COOKING!
ENTER AFTER STRONG BREAKOUT OF TREND LINE
Titan beat growth expectations across most segments and this led to likely earnings upgrades for FY25 to the tune of 4-5 per cent. The company's jewellery segment reported 26 per cent year-on-year (Y-o-Y) growth in Q2 against 9 per cent growth in Q1.
Equinox India - Cup & Handle and Downward channel BOEquinox India has given a BO from downward channel and is also making an Cup & Handle pattern on weekly time frame. This looks quite positive and post breakout of Cup & Handle pattern it is heading for 3X returns. Other factors:
1. Recent accord of merger with Embassy group after 5 years makes Equinox is leading listed real estate company with one of the largest land bank.
2. After 2008, it has given breakout out of downward channel.
3. Cup & Handle is in making on a higher time frame so on breakout it can move 3X.
4. Volumes are also building
5. Price-Book ratio (1.7x) is lowest among other real estate players
Do keep this stock in your radar!!
Keep following @Cleaneasycharts as we provide Right Stock at Right Time at Right Price.
Cheers!!!
Nifty Intraday Analysis for 24th January 2025NSE:NIFTY
Index closed near 23205 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23500 Strike – 54.00 Lakh 23200 Strike – 41.75 Lakh
23300 Strike – 35.24 Lakh
Put Writing
23000 Strike – 68.58 Lakh
23200 Strike – 40.68 Lakh
23300 Strike – 29.77 Lakh
Index has resistance near 23250 - 23300 range and if index crosses and sustains above this level then may reach near 23400 - 23450 range.
Index has immediate support near 23050 – 23000 range and if this support is broken then index may tank near 22850 – 22800 range.
TRON Bull Market Performance Over the Years:#TRON Bull Market Performance Over the Years:
2017 Bull Market: 🚀 +23,800%
2021 Bull Market: 🚀 +1,650%
2025 Bull Market: +900% till now
My Take: TRX/USDT is $1 Potential But CRYPTOCAP:TRX has likely delivered most of its returns already. While it may pump again, don't expect massive gains in this cycle.
📊 IMO, $0.60 is a good exit range. Anything above $0.6 would be a bonus!
NFA & DYOR
#TRX #Crypto
Why does market do OPPOSITE of what you THINK ?Cognitive Biases and Heuristics in Trading: How Our Minds Impede Sound Decision Making
Trading is often seen as a rational, data-driven activity, where success hinges on analysis, strategy, and execution. But, in reality, it is not just technical indicators and chart patterns that affect a trader’s performance. The human mind, with its biases and heuristics, plays a critical role in shaping our decisions — often in ways that undermine our trading success.
Understanding how cognitive biases and heuristics affect our decision-making can help traders improve their strategies, minimize errors, and gain a psychological edge. Let’s dive into some of the most common cognitive traps in the trading world and explore how they can hinder rational decision-making.
1. **Confirmation Bias**
Confirmation bias occurs when traders seek out information or interpret data in a way that confirms their preexisting beliefs or positions, rather than objectively considering all available evidence.
**Example in Trading**:
A trader who believes that a stock will rise may only pay attention to news or technical indicators that support this belief, while ignoring signals that suggest a downturn. This can lead to poor decision-making and missed opportunities for risk management.
**How to Overcome It**:
Traders can counter confirmation bias by deliberately seeking out opposing viewpoints, considering alternative scenarios, and challenging their assumptions regularly.
---
2. **Anchoring Bias**
Anchoring bias occurs when traders rely too heavily on an initial piece of information (the “anchor”) when making decisions, even if it’s irrelevant or outdated.
**Example in Trading**:
A trader might base their decision to enter a trade on a stock’s price at a specific point in time, such as the price at the previous high. Even if market conditions have changed significantly, the trader may become anchored to that original price level, influencing their decision to buy or sell at suboptimal levels.
**How to Overcome It**:
Avoid clinging to arbitrary price levels and continuously reassess market conditions and fundamentals. Create flexible trading rules that consider the latest data.
---
3. **Overconfidence Bias**
Overconfidence bias is when traders overestimate their knowledge or ability to predict market movements, leading to excessive risk-taking.
**Example in Trading**:
A trader who has experienced a few profitable trades may believe they can consistently predict market trends with high accuracy, causing them to take larger positions or use high leverage — which often results in significant losses.
**How to Overcome It**:
Traders should regularly assess their performance, acknowledge uncertainty, and be realistic about their capabilities. A strategy based on proper risk management, including stop-losses and position sizing, can help mitigate overconfidence.
---
4. **Loss Aversion**
Loss aversion is a key concept in behavioral economics, referring to the tendency for individuals to prefer avoiding losses over acquiring equivalent gains. In trading, this manifests as an unwillingness to cut losses, leading traders to hold onto losing positions in the hopes that the market will turn around.
**Example in Trading**:
A trader may refuse to exit a losing position because they fear realizing a loss. This often results in the position bleeding out further, accumulating larger losses.
**How to Overcome It**:
Set predefined exit points or stop-loss orders to enforce discipline. Accept that losses are a natural part of trading, and focus on maintaining a balanced risk-to-reward ratio.
---
5. **Herding Bias**
Herding bias refers to the tendency to follow the crowd and make decisions based on what others are doing, rather than relying on individual analysis.
**Example in Trading**:
A trader may buy into a stock simply because others are buying or because of social media hype, without understanding the fundamentals or technical indicators that might suggest otherwise.
**How to Overcome It**:
It’s important to have a clear strategy and stick to it, even when market sentiment is against you. Independent research and analysis should guide decisions, rather than the actions of others.
---
6. **Recency Bias**
Recency bias is the tendency to give undue weight to recent events and to assume that they will continue in the future. In trading, this often leads to overreaction to short-term market movements.
**Example in Trading**:
After a stock has made a significant upward move, a trader may believe that the trend will continue simply because it has been recent, ignoring historical patterns or broader market conditions.
**How to Overcome It**:
Traders should look at long-term trends, not just recent price action. Implementing a comprehensive strategy based on multiple timeframes can help reduce the impact of recency bias.
---
7. **Endowment Effect**
The endowment effect describes the tendency for people to place higher value on things they own simply because they own them. In trading, this leads to an irrational attachment to assets and positions.
**Example in Trading**:
A trader may be reluctant to sell a losing position because of the emotional attachment to the trade, leading them to hold onto it far too long.
**How to Overcome It**:
Approach each trade with a level of detachment. Regularly assess the value of your holdings based on current market conditions, not emotional attachment.
---
8. **Availability Heuristic**
The availability heuristic is when people make decisions based on what information is most readily available to them, rather than evaluating all possible data.
**Example in Trading**:
A trader may recall a recent news story about a company and make a trading decision based on that single piece of information, without considering a broader range of data.
**How to Overcome It**:
Take a holistic approach to trading. Gather data from a wide variety of sources, including fundamental analysis, technical indicators, and macroeconomic trends, to ensure well-rounded decision-making.
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9. **Gambler’s Fallacy**
The gambler’s fallacy is the belief that past events can influence future outcomes in random events, even when the events are statistically independent.
**Example in Trading**:
A trader might think that after a series of consecutive losses, a win is “due,” leading them to take larger, riskier trades based on this false assumption.
**How to Overcome It**:
Recognize that markets operate based on probabilities, not patterns that guarantee outcomes. Stick to your strategy and avoid trying to “chase” losses with larger, riskier trades.
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10. **Framing Effect**
The framing effect occurs when people react to a particular choice depending on how it is presented, rather than based on the actual content or value of the choice.
**Example in Trading**:
A trader may interpret a "loss of $100" as less severe if it's framed as a “small drawdown” compared to a “significant loss,” even if the monetary impact is the same.
**How to Overcome It**:
Always focus on the underlying value and impact of the decision itself. Avoid letting the framing of information distort your judgment.
---
Conclusion: Navigating the Cognitive Minefield
Trading is inherently psychological. While there’s no way to fully eliminate biases, understanding these cognitive traps can provide traders with the tools they need to make more rational decisions. By incorporating strategies that mitigate the influence of cognitive biases — such as disciplined risk management, regular self-assessment, and an adherence to a structured trading plan — traders can enhance their decision-making processes and improve their overall performance.
Awareness is key, and the more we understand about how our minds work in trading, the better we can optimize our actions for success. The markets may be unpredictable, but by reducing the noise created by our biases, we can gain greater clarity in our decision-making.
SWING TRADEKFINTECH
CMP 1175
It'll remain strong if it stays above 1167
Add on dips with SL CLB @ 1050
Tgts would be 1370 & 1420
TA info -- 1370 there is a Gap -- that will get filled
if you like this idea 💡 --- Plz don't miss to Boost/Like 🚀
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Rgds,
Naresh G
SEBI Reg.RA
Nifty Intraday Analysis for 23rd January 2025NSE:NIFTY
Index closed near 23155 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23500 Strike – 113.11 Lakh 23300 Strike – 94.40 Lakh
23200 Strike – 84.95 Lakh
Put Writing
22300 Strike – 113.58 Lakh
23100 Strike – 84.76 Lakh
22900 Strike – 55.47 Lakh
Index has resistance near 23200 - 23250 range and if index crosses and sustains above this level then may reach near 234350 - 23400 range.
Index has immediate support near 23000 – 22950 range and if this support is broken then index may tank near 22800 – 22750 range.
Positional Trade with 50% + Expected GainRounding Bottom & Breakout with Volume
BBTC LTP 2232
Weakness : incase if it breaks & Sustains below 2070
Add on Dips till 1900
SL CLB @ 1700
Strength 💪 : when it'll sustain above 2410
Possible Targets 🎯 : 2280/2480/2580/2680/2880/2980/3080
TSL MUST to Maximize your Profit's
Even from LTP 2232 if it goes till 3080 -->> its 38% Gain
if you like this Idea 💡 - Don't forget to Like / Boost 🚀it
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Rgds,
Naresh G
Sebi Reg.RA
Nestle India: 3 Drive Bullish Reversal with RSI Divergence!Observations:
1. Support Zone:
Price is trading at a significant horizontal support zone around ₹2,160–₹2,200.
Historical price action shows multiple instances of price respecting this level as strong demand.
2. Three-Drive Accumulation Pattern:
A clear "Three Drive" pattern is visible, indicating accumulation at this support level.
This pattern often precedes a bullish reversal.
3. RSI Divergence:
Bullish divergence on the RSI: Price made lower lows while RSI made higher lows, indicating a weakening bearish momentum.
Confirmation:
Monitor price action for bullish candlestick patterns or a significant increase in volume on breakout.
WHY DO TRADERS FAIL?Every Field Demands Skills, and Trading is No Different
Every profession requires a unique set of skills—doctors need precision, engineers need problem-solving abilities, and athletes need discipline and endurance. Yet, when it comes to trading, many people mistakenly believe it’s just about clicking buttons and watching numbers move. The truth? Trading demands a distinct set of skills that most people—99% of traders, to be precise—don’t possess. The fun (or alarming) part? They don’t even know they lack them.
Here’s why trading is a skill game, not a gamble:
---
1. Emotional Mastery
Trading isn’t about the market; it’s about the trader. The biggest battle is internal—fear, greed, frustration, and overconfidence are the real opponents. While many think they can "control" emotions, most fail miserably when the pressure mounts.
Skill Needed: Emotional discipline.
Why 99% Lack It: They underestimate how emotions can hijack rational decisions, especially during volatile markets.
---
2. Risk Management
Ask any professional trader, and they’ll tell you: managing losses is more important than chasing profits. However, most traders fail because they ignore risk management. They over-leverage, avoid stop-losses, or bet too much on a single trade, thinking they can outsmart the market.
Skill Needed: Protecting capital at all costs.
Why 99% Lack It: They’re so focused on winning that they forget the primary rule: don’t lose big.
---
3. Adaptability
Markets are like living organisms—they change constantly. A strategy that worked yesterday might fail today. Successful traders know how to adapt to new trends, data, and market conditions.
Skill Needed: Ability to pivot and learn continuously.
Why 99% Lack It: They cling to rigid strategies, hoping for consistent results in an inconsistent environment.
---
4. Patience
Most traders want instant results. They jump into trades without waiting for the right setup, driven by FOMO (fear of missing out). Ironically, patience—waiting for the perfect trade—is one of the hardest skills to master.
Skill Needed: Knowing when NOT to trade.
Why 99% Lack It: The urge to stay "busy" blinds them to the fact that doing nothing is sometimes the best move.
---
5. Long-Term Thinking
Trading isn’t about getting rich overnight. It’s a long game of compounding small, consistent wins while avoiding catastrophic losses. Yet, most traders dream of big wins and gamble their capital on high-risk trades.
Skill Needed: Strategic thinking with long-term goals.
Why 99% Lack It: They’re seduced by the idea of quick money and overlook the importance of sustainability.
---
6. Self-Awareness
Here’s the catch: most traders don’t even know what they lack. They believe more screen time or better tools will make them profitable, but the real issue lies within themselves. Without self-awareness, they repeat the same mistakes and wonder why they fail.
Skill Needed: Identifying personal weaknesses and blind spots.
Why 99% Lack It: Introspection is uncomfortable, and many prefer blaming the market instead of looking in the mirror.
---
The Harsh Reality
Trading is a skill-intensive field disguised as a simple one. The charts, indicators, and strategies might look straightforward, but the underlying mental and emotional demands are far more complex. Most traders lose not because the market is unfair but because they’re unprepared for the unique challenges it presents.
---
Conclusion
If you’re a trader—or aspiring to be one—ask yourself:
Do I have the patience to wait for the right trade?
Can I manage my emotions when things don’t go my way?
Am I protecting my capital instead of chasing unrealistic gains?
The answers might surprise you. Remember, trading isn’t about working harder or staring at charts longer. It’s about building the right skills—skills that set the top 1% apart from the rest.
And the first step? Realizing what you don’t know. Because in trading, ignorance isn’t bliss—it’s expensive.
Nifty Intraday Analysis for 22nd January 2025NSE:NIFTY
Index closed near 23025 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23500 Strike – 93.98 Lakh 23400 Strike – 65.63 Lakh
23300 Strike – 62.14 Lakh
Put Writing
22500 Strike – 66.13 Lakh
23000 Strike – 56.80 Lakh
22400 Strike – 55.68 Lakh
Index has resistance near 23200 - 23250 range and if index crosses and sustains above this level then may reach near 234350 - 23400 range.
Index has immediate support near 22850 – 22800 range and if this support is broken then index may tank near 22700 – 22650 range.
Volatility expected due uncertainty on the tariff imposition decision by the Trump Administration and any other unaccounted news.
Why You Miss Winners and Hold Losers?One of the most common frustrations traders face is missing out on stocks that rally while being stuck with stocks that barely move. Why does this happen? It often boils down to impulsive decision-making.
Here’s the scenario:
You enter a trade based on your analysis. The stock doesn’t move as expected, while the market or other stocks start rallying. The fear of missing out (FOMO) kicks in. Impulsively, you jump to another stock that’s already moving. Ironically, the stock you just left often starts to move right after you exit.
The issue isn’t the stock; it’s the lack of patience and trust in your initial analysis. You forget why you took the trade in the first place and chase momentum without a clear plan.
Why Does This Happen?
1. Emotional Trading: Watching others make money triggers emotional decisions, not rational ones.
2. Lack of Conviction: If your trade idea isn’t well-thought-out, it’s easy to second-guess yourself.
3. Overtrading: Constantly shifting between stocks leads to missed opportunities and losses.
How to Fix It:
1. Set Clear Trade Plans: Define your entry, exit, and stop-loss levels before taking a trade. Stick to them unless market conditions genuinely change.
2. Build Patience: Good trades take time to play out. Trust your analysis.
(MOST IMPORTANT POINT)
3. Track Decisions: Maintain a trading journal to evaluate why you entered or exited trades.
The key is to stop reacting to the noise of the market and focus on your process. Patience, discipline, and a clear strategy separate successful traders from the rest.
Follow me for more such trading content!!!
Nifty Intraday Analysis for 21st January 2025NSE:NIFTY
Index closed near 23350 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23600 Strike – 55.67 Lakh 23500 Strike – 48.29 Lakh
23700 Strike – 45.23 Lakh
Put Writing
23000 Strike – 75.72 Lakh
23200 Strike – 61.85 Lakh
23300 Strike – 48.12 Lakh
Index has resistance near 23450 - 23500 range and if index crosses and sustains above this level then may reach near 23600 - 23650 range.
Index has immediate support near 23100 – 23050 range and if this support is broken then index may tank near 22850 – 22800 range.
High volatility expected due uncertainty on what will say in his first presidential speech and which executive order President Trump will sign after assuming the Oval office.
NZDUSD: The Calm Before a Bearish StormNZDUSD has broken below the 50/20 EMA on the 4-hour timeframe chart. The price experienced a sharp decline, followed by a corrective pause that appears to form an expanded flat correction. Wave (C) completed at 0.5692 . The ATR has decreased to 0.00189 , while the ADX has dropped to 22.87 .
The impulsive move is expected to occur downward. If the price breaks below wave B at 0.55870, it may reverse from the following targeted Fibonacci levels : 0.5555 (1.618) and 0.5470 (2.618).
We will update further information soon.
Newgen in Blue Sky.NSE:NEWGEN showed a strong upmove today Crossed Key Levels and Hit an all-time high, with RSI bouncing back Sharply again.
Trade Setup:
It can be a Good 1:1 RISK-REWARD Trade for Aggressive Swing Trader.
For Postional Trade let it cool down a bit and then try to enter at swing low.
Target(Take Profit):
1977 will be Levels for Swing/Positional Trader.
Stop-Loss:
Around 1534.15 For Swing Trade and Positional Trader.
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Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Aggressive Short call on WiproNSE:WIPRO Aggressive Short call on Wipro hovering near support zone if broken can give good swing, with MACD Showing Weakness, This is Purely Aggressive Trade and its Results are around the corner.
Trade Setup:
It can be a Good 1:1 RISK-REWARD Trade for Aggressive Swing Trader.
Target(Take Profit):
Around 262 to 265 Levels for Swing Trade.
Stop-Loss:
Around 309-313 or When Breaches 20 DSMA For Swing Trade.
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Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
LEGEND SPEAKS #3 (Jim Roppel)Jim Roppel is a seasoned investor with a unique approach to stock market investing, and his career offers a wealth of knowledge for traders and investors looking to refine their strategies. His expertise in spotting growth opportunities and his disciplined approach to investing have helped him build a strong track record over the years. While not as widely known as some other investors, Jim Roppel’s lessons are valuable, especially for those who want to succeed in the stock market with a methodical and long-term perspective.
Here are some key lessons that traders and investors can learn from Jim Roppel’s approach.
1. Focus on Quality Over Quantity
Jim Roppel has always been an advocate of concentrating on high-quality companies rather than diversifying into many stocks. By focusing on companies with strong fundamentals, good management, and sustainable growth prospects, investors can avoid the risks associated with over-diversification. This approach allows for more in-depth research and a better understanding of the businesses you invest in.
Key Takeaway:
Prioritize quality over quantity. Instead of spreading your investments too thin, focus on fewer companies that you truly believe in and can thoroughly understand.
2. Embrace the Power of Compounding
One of the most important lessons from Roppel is the power of compounding. He emphasizes the importance of investing in businesses with the potential for long-term growth. When you invest in companies that continuously reinvest their profits into expanding their business or increasing shareholder value, your returns can grow exponentially over time.
Key Takeaway:
Invest with a long-term perspective. Look for companies that will allow your investments to compound over time. Patience is key to benefiting from compounding returns.
3. Understand the Business, Not Just the Numbers
Roppel is not just focused on the financials of a company; he insists on understanding the business and its underlying competitive advantages. A great business will be able to navigate market fluctuations, and an investor needs to assess whether the company has a sustainable edge. Whether it’s innovation, a strong brand, or a unique service, understanding these aspects can provide more clarity than just looking at numbers alone.
Key Takeaway:
Invest in businesses, not just numbers. Understand what makes a company special and whether its competitive advantages will stand the test of time.
4. Be Skeptical of Short-Term Market Movements
Jim Roppel believes that many investors make the mistake of reacting to short-term market movements. He emphasizes that short-term price fluctuations are often driven by emotion and market sentiment, which may not reflect the underlying value of a business. Rather than being swayed by these fluctuations, investors should focus on the long-term prospects of their investments.
Key Takeaway:
Ignore short-term market noise. Focus on the long-term prospects of a business and avoid reacting to every market movement. Patience and discipline will pay off.
5. Invest in Companies with a Strong Management Team
A company’s management team plays a crucial role in determining its success. Roppel has always stressed the importance of investing in companies with leaders who have a proven track record of good decision-making. Great management can steer a company through tough times, ensure proper capital allocation, and execute on its growth strategy effectively.
Key Takeaway:
Invest in companies with strong, capable management. A good management team can make all the difference in the long-term performance of a business.
6. Risk Management and Capital Preservation
Roppel is keenly aware of the risks involved in investing and believes in the importance of capital preservation. He advises against taking on unnecessary risks and stresses that it’s not about how much money you can make, but about how much you can avoid losing.
This mindset helps to protect your capital during market downturns and ensures you have the resources to take advantage of opportunities when they arise.
Key Takeaway:
Focus on risk management. Protect your capital at all costs and avoid risky ventures that could jeopardize your long-term success.
7. Be Disciplined in Your Approach
Jim Roppel has demonstrated the importance of staying disciplined in your investment approach. This means sticking to your strategy, not chasing after trends, and being consistent in your decision-making. Roppel advises investors to stay within their circle of competence, avoid making emotional decisions, and be patient enough to wait for the right opportunities.
Key Takeaway:
Be disciplined and stick to your strategy. Avoid chasing trends or making impulsive decisions, and stay consistent in your investment approach.
8. Value Over Price
For Roppel, it’s not about buying stocks at the lowest possible price, but rather investing in businesses that offer strong value. A great business at a reasonable price is often a better investment than buying a cheap stock that lacks potential. Value investing involves assessing the intrinsic worth of a business and ensuring that the price you pay offers a margin of safety.
Key Takeaway:
Invest based on value, not price. Look for businesses that offer long-term value and have a strong potential for growth, even if the price isn’t the lowest at the moment.
9. Stay Disciplined During Market Downturns
Roppel advises that market downturns can often create excellent buying opportunities for patient investors. While many investors may panic and sell during tough times, disciplined investors should use market downturns to their advantage, purchasing shares in high-quality companies at discounted prices.
Key Takeaway:
Take advantage of market downturns. When the market is down, it may be an opportunity to buy high-quality companies at a discount. Stay disciplined and invest for the long term.
Conclusion: Applying Jim Roppel’s Lessons to Trading and Investing
Jim Roppel’s approach to investing offers timeless lessons for both traders and long-term investors. By focusing on quality, staying disciplined, understanding the businesses you invest in, and avoiding short-term distractions, traders can develop a more sustainable and effective strategy. Additionally, Roppel’s emphasis on risk management and capital preservation ensures that you’re not just chasing returns but safeguarding your wealth in the process.
These principles, when applied with consistency and patience, can help investors build a strong, resilient portfolio capable of weathering market volatility and achieving long-term success. Whether you're just starting out or are an experienced investor, Jim Roppel's approach offers a solid framework for navigating the complexities of the financial markets.
Nifty Intraday Analysis for 20th January 2025NSE:NIFTY
Index closed near 23205 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23500 Strike – 46.98 Lakh 23700 Strike – 42.58 Lakh
23600 Strike – 40.37 Lakh
Put Writing
22700 Strike – 46.26 Lakh
22500 Strike – 43.08 Lakh
23000 Strike – 36.89 Lakh
Index has resistance near 23300 - 23350 range and if index crosses and sustains above this level then may reach near 23450 - 23500 range.
Index has immediate support near 23050 – 23000 range and if this support is broken then index may tank near 228050 – 22800 range.
It is expected that the Index will open with flat to negative sentiment and close red on Monday before Trump assumes office.
MCX Gold: Elliott Wave Insights on Ascending ChannelTimeframe: Daily
MCX Gold has been trading within an ascending parallel channel for over 65 weeks . The value area highlights zones of supply and demand, with the control line exerting a gravitational pull on the current price. Within this structure, there are four zones of no trading activity and two neutral zones.
A triangle pattern is forming around the control price, indicating a potential price movement. If the price closes above the control line, it could potentially reach the following targets: 77660 – 78560 – 79600+ . On the other hand, if the price breaks and closes below the strong support level, we may witness a short decline, possibly reaching the lower band of the parallel channel.
We will update further information soon.