A Doji candle is made. This indicates to indecision and this also may say that bears are about to pause after 8 weeks of dominance. So bears can take profit on expiry. Short covering can see some recovery.
Nifty has formed a Broadening pattern or Megaphone pattern on daily chart. Price might have reached the bottom of the pattern.
OI Table: Bulls have increased position at 10000 Put strike. Bears may find to tough to crack this level of support. Bears are holding onto 10400, 10500 and 11000 (highest OI) Call strikes. Hence 10500 is a challenge for bulls.
FIIs, DIIs and Pro are still holding onto short positions to the tune of 328931 shares whereas CLI (retailers) are in long position of 429614 shares.
S&P is trading much below 200 DMA. So also Crude.
Nifty has formed a Broadening pattern or Megaphone pattern on daily chart. Price might have reached the bottom of the pattern.
OI Table: Bulls have increased position at 10000 Put strike. Bears may find to tough to crack this level of support. Bears are holding onto 10400, 10500 and 11000 (highest OI) Call strikes. Hence 10500 is a challenge for bulls.
FIIs, DIIs and Pro are still holding onto short positions to the tune of 328931 shares whereas CLI (retailers) are in long position of 429614 shares.
S&P is trading much below 200 DMA. So also Crude.