chinmayjog

chinmayjog

NIFTY is fighting for the 17k levels, VIX is very high around 23. Big moves either side expected. Outlook still bearish, may touch 16500 intraday and be back up by closing. On the up side, 17050 acts as a major resistance. Any move with volume and hourly candle closing well above these levels should give a good move upward towards 17200. Disclaimer: I am not a...

chinmayjog

NIFTY is at a very important support around 17380 levels. It is the yearly open level, 21EMA on monthly chart. A breach and close of this on the monthly chart will take nifty further to 16900 levels. If it takes support, then we can see a pullback rally towards 17650. On the daily chart, a Doji was formed and today we have seen the low of that candle break. A...

chinmayjog

NIFTY has taken support at the fib 0.382 levels around 17600 mark intraday. It opened around those levels, and moves towards 17500 got rejected by bulls with heavy volume. The wide range between high and low on the hourly candle may just define the broad range for today, 17700 at the top, and 17500 at the bottom. Breaching levels on either side will decide next...

chinmayjog

NIFTY has breached the 17800 on weekly chart today. A weekly closing tomorrow below this level will confirm bearish trend for next week. We can expect 17450 in the coming weeks if this happens. If not, a bounce back towards 17900 can be expected. Disclaimer: I am not a SEBI registered investment advisor. All views personal and for educational purpose.

chinmayjog Updated 

Max Pain is at 17900. 17800 PUTs have been written heavily, indicating a strong support. Also the daily chart providing a strong support through EMA21 at that level. We may see a bounce back towards 17900 during the day. Disclaimer: I am not a SEBI registered investment advisor. All views personal and for educational purposes only.

chinmayjog

If NIFTY breaks the levels of 17915 on the hourly chart and closes below, then 17850 is the next level. There would be some good support to NIFTY at these levels, since the fibonacci magic ratio level is also around. Expiry being tomorrow, and max pain around 18000, 17900 would be a tough support to break. Big players will first adjust their positions (cover...

chinmayjog

If NIFTY is able to break the 17950 level and close below this, then further downside is expected. Otherwise sideways movement between a narrow range of 17950 to 18050 is what can be expected.

chinmayjog

Finally NIFTY has broken the sideways movement, and is moving towards 17900 levels. First stop at 17950, next one at 17915. View negated if day close happens over 18150. Disclaimer: I am not SEBI registered advisor. Views personal, and for educational purpose.

chinmayjog

NIFTY has failed to breach the 18200 levels on the lower side, and 18350 on the upper side. Confluence of supports at the 18220-18240 levels due to the fib and EMA 21 on hourly chart makes it difficult for NIFTY to breakdown below 18200. On the upper side, 18300 still acts as a strong resistance. For today, this looks to be the range. Breakout on either side with...

chinmayjog

NIFTY is trying hard to break the 18300 levels. If it manages to close above 18300 with decent candle on the hourly chart, then further upside towards 18400 can be expected. Until then, wait and watch. Failing to break it may take it back to the 18200-18250 zone. Disclaimer: I am not a SEBI registered investment advisor. Views are only for purpose of my own education.

chinmayjog

NIFTY formed a doji candle on the daily chart. The weekly expiry today meant that the day would be volatile. Candle formed tomorrow would tell further about the next trend. If tomorrow's candle closes above today's high of 18272, then we can expect further upside towards 18500 next week. On the contrary, if it closes below 18150, then a downward move can be...

chinmayjog

NIFTY has crossed a major hurdle of 18200 and closed at 18212, indicating strength upwards. Also, a cool-off in the DXY from last couple of days from 96.85 to 95.5 levels indicates there would be buying. Coupled with all this data is the results season which is expected to bring some volatility. NIFTY seems to be strongly moving towards the 18500 levels. View...

chinmayjog

NIFTY has opened gap down today. Global cues are weak. There is EMA 21 support on 17730 levels on the hourly chart, at which it is currently trading. Max pain as of now is at 17750. Maximum call writing is at 18000 levels. Put unwinding has been seen above 17800 levels. Put writing at 17700 and 17600 indicates support at these levels. I expect NIFTY to trade...

chinmayjog

The breach of EMA 89 levels on daily chart and EMA 200 on 3H chart gave a strong positive bias to BANKNIFTY. Yesterday's view of sell on highs was negated due to breach of the 37000/37200 levels with heavy volume and swift move towards 38000. Heavy call covering on 37000, and call writing at 38000 has been noticed. Max pain levels have risen from 36500 to 37300,...

chinmayjog

A very significant resistance at 17915 on daily charts will be tough nut to break. Need to be cautious here. Max pain on current expiry is at 17800. Max put writing is at 18000. There is high chance that NIFTY may test 18000 levels and reverse a good 1% taking it much closer to the max pain levels. High chance now that NIFTY will sustain and close above 17900 for...

chinmayjog

BANKNIFTY has closed above the 89 EMA on daily chart. If it sustains above this level for the first hour, immediate range is 37000-37200. We may see short covering in options. But if it opens weak tomorrow, it will be dragged down towards 36500. Options data suggests heavy call writing on 37000 and max pain at 36500. So any rise towards 37200 will meet with stiff...

chinmayjog

NIFTY is approaching a resistance at 17770 levels. If 17776 is breached on daily chart, we might be able to see a move towards 17915. If not, then a consolidation between 17600 and 17750 is on the cards. Call and put writers are at loggerheads on the 17700 levels. 17800 and 17600 are immediate resistance and support levels. This options data suggests that it won't...

chinmayjog

BANKNIFTY is approaching a very strong resistance around the 36700 levels, with the EMA 89 on daily chart and the 0.382 Fib level creating a confluence around it. Call writing at 36500 and 37000 strikes indicates a rough phase for the bullish rally. EMA 21 on the weekly chart will also act as a resistance at 36600 levels. On the downside, 36000, 35500 will act as...