BankNifty looks bullish No Change in RBI reporate... But due to Upside momentum in Last few Trading Session ...I am Expecting some profit Booking Here....
Important Strike price to watch 41100 PE and 41200 CE...
:)
****Educational****
NSE:NIFTY
On Consecutively second day nifty formed an inverted hammer pattern which is bearish reversal sign.
Option chain data suggests small short covering at 11500 CE plus heavy PUT writing is seen at 11500 PE which indicates it is difficult to break 11500.
One can go long in Nifty with 11500/11490 as SL.
1) Testing its ATH (All Time High) level.
2) Perfect 'v' formation @ important level
(which is very very bullish indication)
3) 78.6% fibonacci extension level on WEEKLY timeframe
coincides with ATH. As we know, breakout of 76.8% lvl of
fib extension considered as continuation of the mail trend.
4) Concern : forming DOJI from last two days.
5) Relief : Even...
After breaching 383 & 390 levels, stock will resume its
UPTREND in medium term trend.
For now,
1) Formed an EXHAUSTIVE candle on friday. (Neutral)
2) On Intraday chart, stock had a very good opening move, but after SBIN results, (being its peer) it also faced a selling pressure. Due to which short covering was seen, but before this event, stock was enjoying...
Verdict:
Bounced back from fib retracement level
& formed bullish divergence. But note,
unable to cross 1425 level
OI Analysis:
New longs are added today.
If moves up tomorrow then
it will be fueled by strong short covering
Options Analysis:
Huge addition of OI @ 1440CE. This is only
thing which is indicating bearishness, all
other indicates towards...
