49lakhs open interest on 15000 put strike just before expiry and has the highest OI trading at 32rs.
Broken out of the trend line and likely to trend higher.
Also on weekly charts there is a golden cross over between 50 and 100 day.
Next level to watch for us previous swing high of 15400.
Tata steel with an influx of good news and global news have broken out with high volumes and OI interest.
The next supply zones are at 683 and would wait for it to go above 621 levels to go long.
there could be a reversal from the top but again the stimulus package may be announced and it could be reversed.
The sector now to go long on is Pharma and IT.
The IT index is indicating a bullish harami pattern where a long candlestick followed by a smaller body, referred to as a doji, that is completely contained within the vertical range of the previous body...
Pharma sector is on the verge of a breakout and could see it easily surpass the highs made in 2015 and beyond.
This sector is clearly in a bullish trend irrespective of what the market does.
the call writing is now shifted to 1800 with high OI.
The 20 and 200 day moving average is converging at these levels last see in 2009 and 2015.
Now we see strong support at 1720 which corresponds to 23.6 percent fibb levels.
If it comes close to these levels take a strict stop near 1705 and risk reward is favorable for this trade and also depends on how the...
see strong support at 687 levels and this could slide down with a gap down due to market conditions and IT is a sector to be in this condition.
wait for a fall and go long with a tight stop at 687. We see high call unwinding at 720 strike level and the next active strike level is 750.
763 correlates to 1.618 Fibonacci level.
very weak stock and could see it slide towards the 50% retracement at 485.
The put call ratio translates to about 1.1 and see massive selling in bharthi from last week.
We could see high amount of put writers at 500 level but nothing compared to the the call writers.
550 call positions at 57.5 lacs an increase by 8% and also see massive increase in OI at 500...
If it breaks out above 242 levels than we can easily see it touch 330 levels.
Its a head and shoulder patterns on the charts with strong support zone at the 188 levels.
It might consolidate between 230 and 200 levels where we see active call positions being taken at 230 levels about 12.8 lacs and about 13 lac put positions at 200 strike positions.
One could go...
We see a strong support level at 149 levels which coincides with 200 day moving average just below it at 142.
149 level also coincides with 61.8% fibbonaci level where we see strong support at 146 levels an this level acted as resistance last year June.
If it holds these levels than there is a good change that it could bounce back these levels else it could...
very high call writing at 420 levels close to 5 million and very likely to go lower to important resistance levels of 379 which correlates to 38.2 % retracement levels.
Once it breaks 379 you could easily go down to 366 level where there is strong support.
IndusInd Bank is clearly showing a negative divergence...We see high call writing of close to 170k at 520 strike having the highest open interest.
Also in the charts we see that 23.6 percent retracement comes to about 550 level where we resistance at these levels.
Could go short at higher levels with a strict stop loss at 555.....could see some downside from...
See resistance on 1458 levels 50 % retracement level. wait for a correction towards 1440 levels before going long.With a stoploss at 1434 go long.
Pivots ascending higher.
We see strong resistance at 1800 levels after peaking out at Feb 20th and than came crashing down to 1300 levels.
On a weekly chart we see it at the higher end of Bollinger band.
Earnings are in 3 days and expected to be a weak quarter due to Covid if you compare it to peers Aster and Narayan Health.
Next Target at 1629 and the following which we see strong...
We see high call writers at 190 call close to a 14 lac positions added today in OI a 55% increase.
With a stop loss of 190 and target of 164.
We clearly see selling pressure at 180 level where it crashed on 20th April.
Fibbonaci retracement comes to about 169 levels is the next support level.
hit support of 160 twice i.e 23.6 percent retracement and forming a flag pattern....resistance at 200 with high call writers and increase in OI 23% increase yesterday.....total 30 lakh calls.....writers on both call and put at 180....
touched a high of 566 on 2007 and than again attempted to break past it on 2017 attempting to break past it with high volumes was in a range for more than 10 years between 267 and 408. Should go past 567 in this series.
