NIFTY is forming a range. There is a gap in NIFTY that can be filled on the downside if the index sustains below 18140. It would be good to go long above 18275-80 levels for 18350/400. However for the expiry on 20 Jan 2022, The current OI data on NSE shows a lot call writing at levels 18300 and 18400.
Whatever side the Index breaks, it would give a good move. There is a TL on 30 minutes TF which is very crucial as well. If that breaks, we can see some downside to levels of 18070-80.
Comment: I would update this log in coming days.
Comment: Index made a high of 18321.55 today after sustaining 18275 to 18280 levels. Hope everyone got benefited. Today was a day for option sellers which I suspected as SGX nifty was trading flat.
Comment:
Comment: if the lower TL is not broken then we may see 18350,400 in coming days.
Comment: The gap was filled today, major TL was broken. strong put writing at 18k levels. If the sell off continues then, we may see 17900, 17800 at max on downside.
Comment: Today we did see 17900 and even 17880. 17880 to 17870 is strong support zone. If the the global market doesn't support then we may se 17600 aswell.
Comment: Hope people did trade the falling wedge pattern on 1TF. However there was no momentum on long side as every rise was sold.
Comment: 17650 was seen today amidst global weekness.
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