My Analysis of Nifty
Looking at the Open interest data 18000 has a very strong resistance with very new call writers at 18000, 18050, 18100,18200, 18300 levels.
PCR is 0.5 suggesting that its oversold
Max Pain at 18000
Support shown at 17923(100 day moving average on hourly charts)
PCR and support suggest that the market might open in the green...
NSE:NMDC has broke the downward trendline followed from 12 May 2021.
Next 2 resistance levels to watch:
Resistance 1: 146.5
Resistance 2: 157.9
Entry - Below 140
SL - 129
If weekly close above the trend line, we can go long for couple of weeks
1. Looking at open interest 18000 still has maximum call writing with additions to 17900 and 17800 levels, On the lower levels only significant put writing is at 17500 level
2. PCR is 0.9 suggesting Bearish market
3. Max pain at 17800 levels
4. Any kind of support was at 50 ema levels on the daily chart
5. FII - Futures -2000 cr, cash -4000 cr sell, DII 700 cr...
Out of the 10 stocks in NSE:CNXIT index , NSE:LTI has 5.94% weightage.
The stock is at a good support level and also in a trendline support, following from July 2021.
As IT sector started booming again , as per my view, We may see this stock hit 8000 in near weeks.
IT sector view : looks bullish for next couple of weeks
if the price trace green line buy at the arrow mark and take profit at indicated lines, boom..!
if the price trace blue line buy at the arrow mark and take profits at indicated lines, boom..!
if it goes to stop loss, the trade is successful failed :)
I dnt hv the patience to explain
Not a advisor, trade at ur own risk
happy trading :)
There is a killzone in this.
What this means is that it's an optimal zone to take a controlled loss. Errrh.. that's called a 'stop loss'.
That means there are losses involved.
Shorting markets is well known to be more dangerous than going long in markets.
This is not advice to short.
Disclaimer: This is not advice or encouragement to trade securities...
Fundamentally its bears all over. At this time it seems market are a bit overpriced due to the confusions and panics that fly around due to the covid stats and news.
when it comes to T.A market is at a strong range of resistance.Already we have a clear indication that bears are here for the party.
Go short or just do nothing.
*based on1D charts , for swing trades only