Banknifty shows bearish candle. Feature price 41053 which is discount spot price 41122. PCR shows more call writing. 41000 is resistance as per open interst and trendline. Support at below 500 point. Yesterday I have given hero zero of 42000 put at 980 today it made a high of 1060. Every sell is rise opportunities.
Nifty open at 17808 which is .786 retracemet of previous swing high. Nifty close to day low.Todays candle is bearish. PCR 0.98 shows more call writing has been added today. Fresh call writing has been 17650 onwards and support 17400 to 17450. Nifty featurec is in discount price. Sell opportunities in nifty if we get near 17700.
Icici bank sell on rise for target 800. This target is positional sell.
It is traded in range. Upside and lower side is mark on chart. Middle line is support.
Last two day fii in buying mode in cash . Month ending expiry we accept new life time high. Banknifty high and low mark on chart. Important level is middle line. Upper range is sky is limit.
Today nifty didn't break previous day high I.e.17348 but it break previous day low 17169 and made low of 17098. Nifty spot price 17311 and nifty feature price 17305 .feature trade in discount. Market is up but india vix close in positive sign. PCR 1.12 . Technical indicator shows overbought nifty. Sell on rise. We accept tommrow will be gap down opening.
Nifty trading above 10ema. Do not short when it traded above 10 ema. Monthly option chain suggest strong support at 16500. Resistance 18000. As per chart upper range will be mark 18030. Lower range 16400. Up to this month this analysis is valid.
Stock traded above 50 day moving average with good volume and delivery. Positional trade can initiate buy sl 816 target 940.