Nifty opened Gap up +150 points again following Global Cues and saw surge throughout the day making a high of 23708 and closing at 23658 (+1.5%).
Price Action : - Bullish
Nifty closed 1.5% in positive. Consequtive 6 days green candle and closing above 10,20,50 nad 200 dEMA
Candle Pattern: - Bullish
Formed a Big Green candle with a small wick on upside.
Daily EMA Positioning: Bullish
10dEMA 22979
20dEMA 22848
50dEMA 23036
200dEMA 23399
EMA Trend:
Closed above 10dEma ,20dEma, 50DEMA and 200DEMA,
Daily MA suggests Strong Buy
Hourly suggests Strong Buy
15mins Suggests Strong Buy
The momentum indicator, RSI - Relative Strength Index is above 60 now at 71.5 - Just Over Bought
Momentum gaining towards Upside
Support/Resistance Levels:
Major Support 23300-500
Immediate Support 22600
Immediate Resistance 22750
Major Resistance 24000
Trend:
Short Term Trend is Bullish
Daily Options Activity:
Highest CE OI was at 24000 also saw some unwinding with huge Unwinding at 23600-500 highest - Support
Highest PE OI was at 23300, highest Put addition seen at 23500 followed by 23600 - support
PCR is 1.2 indicating Bullishness
Daily Futures Activity FII + Pro F&O Data:
FII Long/Short ratio at 32.5%/67.5% indicating addition of Longs by FIIs - Bullish
Change in Futures OI:
FII Future positions saw littl3 addition in longs +2K with shorts unchanged -Bullish
Nifty Futures price was higher by 01.5% and 12.5 %OI Increase indicating Long Additions
Observation:
Nifty looks strong above 23550 forming daily positive green candles, closing above 10,20,50, 200dEMA and RSI just in overbought zone
Overall Trend:
Sentiment is very Positive
Outlook for Next Session:
Nifty looks strong around 23600, might consolidate above 23550 before another upmove to 24000
Approach & Strategy:
Long with 22850 as SL in April contract, continue with SL 23500
My Trades & Positions:
Long in 23200CE April, closed and moved to 23600CE April
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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.