Breakout with volumes seen.
138 key level to follow. If stays above the same tomorrow and closes above it, more upside expected.
Below 138, downside till 122 to be seen.
Heavy OI on 140 PE and 150 CE.
Bias - Long.
Tomorrow's PA important for Infy, RSI and volume on rise, if trades above yesterday's high on 15 min TF, targets can be set to 805-809-811 swing.
Wait for levels before entering.
Bias - Bullish
View negated if trades below 775 for more than 15 mins.
223-223 is seen to be a stiff resistance. Price rejected multiple times from the zones.
If breaks with conviction, then only on the buy side for further target of 245-250 zones.
Both time rejection candles seen near price zones.
Trend line showing overall bearish trend. Bank Nifty also in bear mode clearly now.
Today's closing is very important. 385, if broken with volumes on closing basis will cause more pain. Previous candle bounced from support level and closed green. Current candle showing bearish bias.
Bullish only if hourly close above 393-395.
Kindly do your own research.
See how after breaking the important support it broke down to almost 8% downside on Intraday basis itself.
Multiple times the support was tested and the circled candle on chart gave final breakdown.
The support line was drawn for analysis purpose before 8-9 trading sessions. Finally it broke down.
ATM Price as of today on 12th September is 27990, hence ATM call is 27800.
Premium of ATM call and Put are 255 and 273 respectively.
Hence, supports and resistances are calculated based on premiums addition and subtraction.
BN most likely to stay in above range.
Follow the above idea along with prices till next expiry.
Stiff resistance at 243 can be seen. A very less probability of breaking resistance in September series.
Range is defined within chart.
Breakout trader can wait for price to close above 243 or 236 on a 30 min or 1 hour candle.
Range traders can short at CMP for target of 236 or below.
And if does not break 236 can long for 240-243.
Do your analysis before...
Please refer to the text on Chart and follow. Make sure to follow a 1 hour candle close.
If anyone wishes to enter, make entries using 15 min chart.
Note :- Please do your own research if trades are to be taken.