16-Oct:
#NIFTY massive range expansion over last two days, so probability of in range play is higher.
Key areas for an immediate point are 11710-750F areas.
1. Hold into that zone will look to test above till 11820F
2. Failure to hold that zone will look to test 11585F on the downside.
#BANKNIFTY
Key areas are 23280-350F as an immediate reference:
1. Hold above...
Despite the markets showing a sharp surge, the pullback can be deceptive as it has come on the back of heavy short-covering as evident from the F&O data. Large call writing was seen at 11950 and 12000 strikes; the 12000 strike holds maximum Call OI followed by 12250. The level of 11800 has highest Put OI. The declined further as the INDIAVIX cooled off further by...
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Nifty has tapped the liquidity pool which would have been sitting under the swing low and has been now moving up.
The next turning point could be ~11,300 to 11,400 (from where many short sellers may decide to enter the)....
Nifty support and resistance area.
See all my publications if it seems to give both knowledge and profit then only like subscribe and share to your near and dears.
My sincere thanks to my masters trading panthulu, nayan podarkar and day trader telugu.
NIFTY has been in a range of 11,200 - 11,300 during I week of OCT. Brake away upside is more likely coz on 5 Min chart there is an inverted H&S appear. That has a clear TGT of 100 - 150 points (Equivalent to 100 - 150%) of the range-bound move. However, if we see any GAP Up opening towards 11,360 - 11,370 fed it first for 11,300 - 11,315 and again go long for...
NIFTY Futures- expectations is a rotational bias and consolidation.
Expect a consolidation and rotation day here.
1. Support near 11190-200F for a test back to 11240F
2. Hold above 11240F for a test to 11300F and rotation from there
3. beak above 113330F or below 11190F
Primary Bias: Pullback Shorts
NIFTY we are hitting the resistance areas and is likely to see consolidation and rotation play today.
1. Hold of NF 1255F areas we are likely to see consolidation and rotation to the downside
2. A pullback and test of 11140F areas, and a rotation on the upside from there.
