Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Nifty took out major resistance level with Gap-up and closed above 20 & 50 EMA and VWAP level. Nifty has shown strength and trying to move in upward direction. PCR (1.06) is in sideways to mild bullish zone. FIIs continue with buying of 2429.6 Crores and DIIs are slowly doing profit booking with selling of -136.2 Crores. Proprietary & retail traders are heavily short in Index and Future contracts. God saves retail traders.
Nifty highest open interest on call side at 17800
Nifty highest open interest on put side at 17700
Overall uptrend looks intact. Shall we continue to look for short straddle/strangle ? Buy on dips opportunities ?
Is Nifty heading towards 18000 now? OR Is Bearish Divergence an indication prior to profit booking ? PLEASE TRADE CAREFULLY TO AVOID GETTING INTO BULLS TRAP.
Have a happy, healthy & profitable day ahead!
Nifty took out major resistance level with Gap-up and closed above 20 & 50 EMA and VWAP level. Nifty has shown strength and trying to move in upward direction. PCR (1.06) is in sideways to mild bullish zone. FIIs continue with buying of 2429.6 Crores and DIIs are slowly doing profit booking with selling of -136.2 Crores. Proprietary & retail traders are heavily short in Index and Future contracts. God saves retail traders.
Nifty highest open interest on call side at 17800
Nifty highest open interest on put side at 17700
Overall uptrend looks intact. Shall we continue to look for short straddle/strangle ? Buy on dips opportunities ?
Is Nifty heading towards 18000 now? OR Is Bearish Divergence an indication prior to profit booking ? PLEASE TRADE CAREFULLY TO AVOID GETTING INTO BULLS TRAP.
Have a happy, healthy & profitable day ahead!