Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
NIFTY
Nifty is up by 36 points. However, Nifty closed almost flat, below 20 EMA, VWAP levels. Market was stable for most of the day on Friday but we have seen fear & high volatility in last hour. PCR shifted slightly below from 0.76 to 0.73 which is clearly in bearish zone.
Highest open interest on call side at 17700 (Shifted down from 18500 to 17700)
Highest open interest on put side at 17000 (Remained same at 17000)
BANK NIFTY
Bank Nifty is up by 36 points. Bank Nifty closed almost flat, below 20 EMA, VWAP levels. Bank Nifty trader firmly and sideways throughout the day Last hour sharp selling/volatility gave opportunities to bears as well as bulls. PCR stayed almost at same from 0.66 to 0.67 which is clearly in bearish zone.
Highest open interest on call side at 39500 (Remained at same level)
Highest open interest on put side at 39000 (Remained at same level)
Shall we expect downward trending market on Monday based on Jackson Hole meeting outcome?
Shall now look for only sell on rise opportunities till global market sentiments remains negative?
Shall we expect decent profit booking after significant one way relief rally which almost became bull run now?
Please do share your comments. Have a nice weekend and wish happy, healthy & profitable Monday!
NIFTY
Nifty is up by 36 points. However, Nifty closed almost flat, below 20 EMA, VWAP levels. Market was stable for most of the day on Friday but we have seen fear & high volatility in last hour. PCR shifted slightly below from 0.76 to 0.73 which is clearly in bearish zone.
Highest open interest on call side at 17700 (Shifted down from 18500 to 17700)
Highest open interest on put side at 17000 (Remained same at 17000)
BANK NIFTY
Bank Nifty is up by 36 points. Bank Nifty closed almost flat, below 20 EMA, VWAP levels. Bank Nifty trader firmly and sideways throughout the day Last hour sharp selling/volatility gave opportunities to bears as well as bulls. PCR stayed almost at same from 0.66 to 0.67 which is clearly in bearish zone.
Highest open interest on call side at 39500 (Remained at same level)
Highest open interest on put side at 39000 (Remained at same level)
Shall we expect downward trending market on Monday based on Jackson Hole meeting outcome?
Shall now look for only sell on rise opportunities till global market sentiments remains negative?
Shall we expect decent profit booking after significant one way relief rally which almost became bull run now?
Please do share your comments. Have a nice weekend and wish happy, healthy & profitable Monday!