Nifty outlook for Monday

NIFTY


Technical analysis:
1. Nifty took support at 50 DMA
2. If you see Fibonnaci retracement, it retraced upto 38% and turned back on higher side

OI data analysis:
1. It respected 11400 where we had highest OI in PUT side.
2. Yesterday we had equal number of OI on 11500 PUT and CALL but at the end Bulls has won the game. Heavy PUT writing is seen at 11500 and 11500 CALL has lost significant amount of OI

With all above parameters it indicates positive outlook for next week.