Hi good morning
as yesterday expire is in a range and the lower range is 17300 and upper is 17430 so the indices go up and down in this range only and we have not get the enter swing in hero or zero trade because there is a huge buildup of short position in 17400 CE with an OI of around 1.6cr+ and on the put side it is around 1.4cr+ on 17300 put that is why we have seen a range bound session but we got some good stock specific move and and also the gap up opening profit
So for today that the range is to be is that 17300 has a strong support zone so that 17275-17325 is a good entry range and the 17400 has a resistance so the range after breaking that level is 17450-17488 after closing 15 min candle above 17430 which is yesterdays high and also if we break the 17250 then 17178 is a down side target and the 17139.95 is a bounce back range
If we talk about bank nifty then 39300 is a good support with 39000 in the downside bounce back level and the 39500 is a resistance after which 39800 is a level to book profit 2nd resistance
if we talk about stock specific then INFY , HCL TECH , Tata CHEM , McDowell-N , Axis ,ICICI jubilant food ,LT looks good along with the stocks i will highlighted you in the session
Stay follow for more update
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
as yesterday expire is in a range and the lower range is 17300 and upper is 17430 so the indices go up and down in this range only and we have not get the enter swing in hero or zero trade because there is a huge buildup of short position in 17400 CE with an OI of around 1.6cr+ and on the put side it is around 1.4cr+ on 17300 put that is why we have seen a range bound session but we got some good stock specific move and and also the gap up opening profit
So for today that the range is to be is that 17300 has a strong support zone so that 17275-17325 is a good entry range and the 17400 has a resistance so the range after breaking that level is 17450-17488 after closing 15 min candle above 17430 which is yesterdays high and also if we break the 17250 then 17178 is a down side target and the 17139.95 is a bounce back range
If we talk about bank nifty then 39300 is a good support with 39000 in the downside bounce back level and the 39500 is a resistance after which 39800 is a level to book profit 2nd resistance
if we talk about stock specific then INFY , HCL TECH , Tata CHEM , McDowell-N , Axis ,ICICI jubilant food ,LT looks good along with the stocks i will highlighted you in the session
Stay follow for more update
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
Note
see we are opening near our 1st support and near about the bounce back levels on both the indices and on the some stocks Don't forget to see the cement sector , Pharma and AutoNote
17528 is the ultimate target of the day if we crosses al the mentioned levelsNote
see up move in Tata ChemNote
see the reversal from preferred levelNote
see w are in a continuous range and respect our levels may see a breakout in closing rather is data is negative but indicators are positive will see what will happen be in stocks and see our calls are doing well
Note
see both the indices near days high 17318/39150Note
these are the spot levels but i give the levels of the futures and we are 17343 on nifty sudden up move after crossing the level and 39300+ on bank nifyNote
complete range bound typically Friday move
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.