or example, if nifty break 11305 ...and sustain buy 11300 CE.
as options data suggest we have very less possibility to break 11170. and nifty might open above the Range.
if nifty not break the range in 30-45 min then we have range bound market and will have momentum in the second session only.
MY possible setup.
1 flat opening
sell 11350 ce and 11150 pe
AS PER THE FUTURES DATA OF ORDERFLOW THERE ARE NET SHORT POSITIONS ON CLOSING INDICATING SOME BEAR SIGNS.
NIFTY HAS A HURDLE AREA OF 11180 AND 11240 LEVELS ABOVE WHICH (IF BROKEN) CAN TEST 11280-11300 LEVELS.
ON THE DOWNSIDE A SMALL SUPPORT OF 11065-11080 LEVELS AND A STRONG PSYCHOLOGICAL SUPPORT AREA 11000-11020 AREAS IS VERY CRUCIAL FOR THE...
BANK NIFTY ANALYSIS
AS PER THE FUTURES DATA THERE ARE NET SHORT POSITIONS IN THE MARKET AT CLOSING INDICATING SOME BEARISH SIGNS.
THE IMPORTANT LEVELS WERE ALREADY SHARED I.E 21100-20900 LEVELS WHICH IS STILL A VERY IMPORTANT LEVEL, HOWEVER MARKET BROKE THOSE LEVELS TODAY BUT IT GOT PRICE REJECTION AND MARKET BOUNCED SHARPLY UPSIDE AND CLOSED AROUND 21300...
Banknifty has been very volatile since the past 3 sessions, rising about 1000 points. Going into tomorrow's monthly derivatives expiry, my advice would be to be extremely cautious and reduce your position size considerably. Fed's meeting will have a huge impact on market's around the world, and Banknifty being a volatile instrument, can cause huge whipsaws and may...
Stock tumbled from 310 level to 235 levels in the last 5 weeks.
Recently, it witnessed sharp bounce back from low around 235 by following a reversal double bottom pattern with volume. MACD also confirms the reversal.
Any fall could invite fresh buying in this stock. Expect the stock to expire above 230 level in Oct series. Lot size:2400
Trend is continued to be in consolidation phase between 310 and 400 levels. It wanders around 200 day EMA while MACD signals negative bias by staying below zero line. Expect it to stay below nearby resistance level of 370 till this expiry. As election result is on due, would like to adopt spread strategy. Lot size: 2667.
Trend continue to be negative as 50day EMA below 200day EMA. As well, MACD confirms the downtrend. Recent reversal from 200day EMA signals expiry would below 220.
By considering major event (Election Result) in the upcoming weeks, prefers to execute spread strategy rather using our regular naked strategy.
Recent crossover above 200-EMA and stay above resistance (plz refer the resistance line in chart) would bring back the positive momentum in the stock. As well, MACD reiterates the same. Expect the stock would find it closing above 320 level for Jan expiry.
Outlook: Bearish. Trend is bearish as It continue to stay below 200-day EMA. As well, MACD signals bearishness by heading below zero. Expect this series would be below 72. Suggest to write 75 call @ 0.55.
As price continue to stay below short term downward trend line and close below 50-day EMA with bearish engulfing would keep the trend under bearish territory. Expect Nov series would expiry below 720 and would fetch return of more than 20%p.a post expenses includes brokerage and tax.