Looking at the EU and US markets, expecting NIFTY to trade in a very range bound market...
16700 ~ 16770 look to be good resistance zone (CPR resistance levels 16703)
16500 - 16500 look to be good support zone (CPR support levels 16561)
OI
a. Call writing is quite high at 17K, even 16.7K has good OI
b. Put writing at 16.5K has nearly 6 million contracts
20 delta...
Bulls getting back last week
Nifty showing strength
However it is close to the selling zone now - 16900-17100 in the past has been a strong bear zone
OI data shows good support down at 16500 with approx 7.3 million puts, 17500 as of now showing highest call OI
28th Jul expiry as of now looks like in 16500-17100 range
20 delta condor entered on 21st July might...
Nifty can test 16K level tomorrow given the sell off seen in US markets.
OI data still shows strong support on 16K & 15.9K.
For straddles, strangles, iron fly - You might want to add some extra cushion downwards by entering credit call spreads
#nifty #optiontrading #analysis #nifty50 #stockmarket #investing
Important Nifty Levels for 14th July 2022 expiry
Looking at the charts and OI data, the expiry seems to be in range of 15900-16500, with 16K and 16.5K acting as key support and resistance levels respectively.
