Nifty Closed today (07-07-2021) inside the resistance band.
If we have a flat or gap-up opening tomorrow (08-07-2021) then 15850 will be dynamic support.
Since the resistance band is tested 4-5 times this month, there is a high probability of breakout.
Things that can stop upward movements are FII bears and Global Cues before the market open.
On the downside,...
Looks like v will have an interesting week ahead.
Will Nifty Break the resistance box and make a new High?
Will Nifty Continue to take support of trendline?
Will Nifty Break the trendline support and consolidate it inside the box?
Will Bears (Call writers at 16000) push the Nifty to 15660 levels???
Are 15700 Put writers hedging with 15600,15500 and 15400?
Red Lines are potential levels for weekly expiry.
Green Lines are potential levels for Monthly expiry.
Both levels are calculated plotted on the day of expiry for the next expiry.
Here green lines were calculated and plotted on 27-05-2021. And short strangle positions taken for 24-06-2021 Expiry at market close on 27-05-2021
NIFTY 24JUN2021 15900CE Sold at...
The previous swing high is 11800. There are two unfilled fresh gaps shown in the chart and we know that markets don't like gaps, thus eventually fill it.
Is this the top of the market for the current period?? Will nifty successfully break the 11800 levels???