Nifty 50 IndexShort
Nifty Review & Analysis - Daily
Price Action :
Nifty selling continued from last Friday and saw sharp cut 0f -1.5%. Price action was weak and no much support in terms of buying around 23700 as expected closing at almost lows of day around 23600.
Trend:
Nifty was in down trend from the opening.
Options Data:
23700 and 24000 Puts saw huge unwinding and aCall addition suggesting huge Resistance at 23700 levels. Small Put builup see at 23300 suggesting a small support.
PCR is at 0.68 which is very bearish.
Futures Data:
FII Long/Short ratio was at 18% last trading session.
Nifty Futures closed negatively with slight decrease in Open Interest suggesting bearishness with sideways bias to continue in immediate short term.
Outlook for Next Session:
Nifty is very Bearish. Might consolidate around 23500-600 before any movement up or down. Need to see if buying emerges around dips of 23300 or above 23800 levels for further direction.
Positons:
Wait for a pullback to go short around 23700-50 for tgt 23300.
Nifty selling continued from last Friday and saw sharp cut 0f -1.5%. Price action was weak and no much support in terms of buying around 23700 as expected closing at almost lows of day around 23600.
Trend:
Nifty was in down trend from the opening.
Options Data:
23700 and 24000 Puts saw huge unwinding and aCall addition suggesting huge Resistance at 23700 levels. Small Put builup see at 23300 suggesting a small support.
PCR is at 0.68 which is very bearish.
Futures Data:
FII Long/Short ratio was at 18% last trading session.
Nifty Futures closed negatively with slight decrease in Open Interest suggesting bearishness with sideways bias to continue in immediate short term.
Outlook for Next Session:
Nifty is very Bearish. Might consolidate around 23500-600 before any movement up or down. Need to see if buying emerges around dips of 23300 or above 23800 levels for further direction.
Positons:
Wait for a pullback to go short around 23700-50 for tgt 23300.
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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.
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.