As we discussed, NIFTY took resistance at the provided dotted resistance trendline and gave a good fall.
If we look at the chart now:
The market gave good bearish momentum yesterday with heavy volatility. I also took support at the price action level of 24188 and came back. That shows bulls are active near 24000.
Support levels: 24188, 200-EMA (15-min)
Resistance levels: 24312, Resistance trendline.
If we look at the OI data:
PCR = 0.74 shows the market has a NEUTRAL sentiment. 24400, 24500, and 24600 have significantly higher CE writing than the lover levels PE writing. The market has big support at 24000.
I am expecting the market to be volatile, sideways, bullish.
Reason:
Verdict: Sideways or Bullish
Plan of action:
wait for 15 min candle. wait for the market to make a direction and make the position accordingly.
If we look at the chart now:
The market gave good bearish momentum yesterday with heavy volatility. I also took support at the price action level of 24188 and came back. That shows bulls are active near 24000.
Support levels: 24188, 200-EMA (15-min)
Resistance levels: 24312, Resistance trendline.
If we look at the OI data:
PCR = 0.74 shows the market has a NEUTRAL sentiment. 24400, 24500, and 24600 have significantly higher CE writing than the lover levels PE writing. The market has big support at 24000.
I am expecting the market to be volatile, sideways, bullish.
Reason:
- RSI = 40-60; shows the market is going to be sideways.
- Price > EMA(13, 50, 200), which indicates the bullish market.
- PCR = 0.74 indicates market bullish sentiments.
- price > VWAP shows a Bullish market structure.
Verdict: Sideways or Bullish
Plan of action:
wait for 15 min candle. wait for the market to make a direction and make the position accordingly.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.