Nifty Support & Resistance as per 26th May 2021 Option OI Data
15400 CE has maximum Lots 14,462 against 15400 PE 3,849 Lots
15400 will act as resistance for tomorrow and a Quasimodo Supply zone is there.
ATM 15300 PE has 32,759 Lots against (-)8,283 Lots Call side
15250 PE has 21,575 Lots against Call side (-)7,391 Lots
15200 PE 31,985 Lots against Call side...
Nifty Future Support and Resistance levels for 24th May,2021 based on Option Open Interest Data.
Maximum CE writing as per change in CE Lots are at 15500CE strike, also there is a Supply Quasimodo Power Pattern at that point. So 15500 will be a strong resistance for next week.
But market is strong can break the supply and move up side.
IndusInd Bank formed an advance Flag Limit Power Pattern in daily chart today on 21.05.2021. A good Demand Zone in Price Action.
Long idea for short term, at 975.50 with a SL @956.45 (Risk is 19.05 Rs 2%) for a Target-1 of 1032.65
Target-2 1051.70 & Target-3 1070.75
Do not trade blindly, do your own analysis and took position. The idea is for information...
UPL IS REACTING FROM FTR DEMAND IN 15 MINS, AND THE DOWN SIDE RALLY WAS FULL OF COMPRESSION SO IT WILL MOVE VERY FAST TOWARDS ITS LAST HIGH, IF YOU GOTO 5 MINS THEN THE COMPRESSION IS MUCH MORE CLEARLY VISIBLE.
SO CAN LOOK FOR LONG OPPORTUNITY TODAY.
Indusindbk is arriving to its FTR Supply Zone and the zone is fresh, so look for shorting opportunity in that zone when price arrive.
The entry level is 994.30 with a Stop at 997. If it works then minimum 1:3 RR will produce.
NIFTY RANGE AS PER OPTION OI BUILDUPS ON 20TH MAY 2021
15000CE HAS 25,443 LOTS AND AT 15000PE 9,299 LOTS
15100CE HAS 20,065 LOTS STANDING AND 15100PE -535 LOTS
IF YOU ASK ME, THESE TWO IS GOING TO BE THE STRONG RESISTANCE FOR TOMORROW
14700PE HAS 6,829 LOTS AND 14700CE HAS NEGATIVE LOTS WHICH WILL ACT AS MINOR SUPPORT
14600PE HAS 6,760 LOTS...
NIFTY SUPPORT & RESISTANCE FOR 20TH MAY 2021 AS PER OPTION OI
15100CE (20,300 LOTS ADDITION) & 15100PE HAS NEGATIVE LOTS CHANGE WHICH IS -8,410 LOTS
15200CE HAS 18,104 LOTS ADDITION AND NEGATIVE LOTS CHANGE AT PE
14850PE HAS 7,924 LOTS ADDITION AND IN CE SIDE -618 LOTS WHICH ACT AS MINOR SUPPORT
14800PE HAS 5,468 LOTS ADDITION AND IN CE SIDE -3,570 LOTS CHANGE...
As per yesterday's Option OI...
15000PE & 15100PE has maximum writing, more than 40K Lots added at both strike.
Near resistance is at 15300CE (14699 Lots addition on 18th)
For more details view please visit my Blog - niftyoptionoianalysis.blogspot.com
Nifty Future is looking strong, it will touch 16000 mark very soon. As per yesterday's option writing 14800PE has 34,696 Lots addition and 14800CE negative 12,261 Lots which indicate it will act as strong Support for the market near future or this month.
14900PE has 20,384 Lots addition and 14900CE -8089 Lots so no addition in Call side indicate it will also a...