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Welcome to NIFTY 50 Futures and options and option chain analysis for intraday trading ......................
◽ Weekly pivot point 17650
◽ Monthly pivot point 17450 (Explained briefly Below I hope that you will like it do follow for more)
🛑 Nifty will be stronger above 18000 zone which crucial resistance zone if failed to close above that zone then we can see some correction in market it may can test the 17000 levels This will be crucial for nifty to sustain above the level until then market will be weaker
🛑 Currently it is trading above 21Day ,50 Day, 100 Day moving averages
🛑 Taking support from 21 DMA
🛑Nifty forming bearish engulfing ( Red candle is longer than yesterday's green candel means sellers were more agressive and it saying that potential direction is towards downside )
🎯 Key levels to watch out intraday levels for day trader
🛑 Major resistance zone for Nifty is at 17850-17900
◽ If market breakout resistance zone then we can see Target of 18000 as first target (if we see the Option chain data more short position are at 18000CE means from option chain data it acting as strong resistance)
◽ Stop loss for this level is 17800
🛑 Major support level for Nifty 50
◽ Support level for nifty lies at 17570-17600 (if we see option chain data (it is available in nse website ) at 17600 in put side here shorter's were exiting from Thier position which means they were panicking)
◽ If breakdown happens we can see the 1st Target of 17470
◽ stop loss ie .17670
🛑 levels for Nifty Futures will be as follows
◽ Go long on nifty Futures if it breakout our resistance 18000
◽ Don't short the market until below the 17660
◽In between range is indecisive don't go long or short anything can happen
🛑 Tradeshots
◽ Resistance zone buy CE only above 17850-17900
◽ support zone to buy PUT only below 17600-17570
◽ Nifty will be weaker on intraday basis below the 17650
◽ Weekly pivot point 17650
◽ Monthly pivot point 17450
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