NIFTY Looks Trend Clear is it ..? Check levels from 31Aug,2020
NIFTY Detailed Analysis from 31aug
PRICE ACTION,OPEN INTEREST & CHANGE IN OI, TECHNICAL ANALYSIS
Previous trading day Nifty Gap open at 11603
Made high of 11686 and
low of 11589 then
closed at 11648
High to close - 38 points down from day's high
Low to close - 59 points up from day's low
i.e Bull Power is 1.6X+ more than Bear power
BULLISH BIAS AS PER PRICE ACTION LET'S CHECK WITH OTHERS
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OPEN INTEREST ANALYSIS
HIGH OI strike CE - 12000
HIGH OI Strike PE - 11500
Next week remaining days Range Probability - 11500 to 12000
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CHANGE IN OPEN INTEREST ANALYSIS
High change in OI in CE strike as per Option data will act
as a major Resistance
R1- 12000 Strike
R2- 11900 Strike
R3- 11750 Strike (NEAR FROM SPOT)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11600 Strike (NEAR FROM SPOT)
S2- 11500 Strike
As Per Change in OI data 12000 is a strong Resistance
and 11500 is a support. Resistance is clear than support
as per OI data
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TECHNICAL ANALYSIS
Day basis NIFTY is Bullish near no resistance
Weekly basis 11600 broked and sustained above this level
showing bullishness
CONCLUSION
If crosses above 11686 will create the momentum to lead the NIFTY
to reach out 11800/11900
Sell Only below 11530 anyways strong sell if sustain below 11500
to reach 11200/11100
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The Profit Patterns
**Educational Purpose only
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LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
Dear followers,
--Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately.
--Sustain means price should need to spend on time in our buy or sell level, then only enter.
--My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid.
--For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame.
--Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one
--Patience most important. Be patient and do the right things continuously the right one will come.
----------------------------------------------------------------
The Profit Patterns
-----------------------------------------------------------------
LIKE & FOLLOW TO SHOW YOUR LOVE & SUPPORT
PRICE ACTION,OPEN INTEREST & CHANGE IN OI, TECHNICAL ANALYSIS
Previous trading day Nifty Gap open at 11603
Made high of 11686 and
low of 11589 then
closed at 11648
High to close - 38 points down from day's high
Low to close - 59 points up from day's low
i.e Bull Power is 1.6X+ more than Bear power
BULLISH BIAS AS PER PRICE ACTION LET'S CHECK WITH OTHERS
-----------------------------------------------------------------
OPEN INTEREST ANALYSIS
HIGH OI strike CE - 12000
HIGH OI Strike PE - 11500
Next week remaining days Range Probability - 11500 to 12000
-----------------------------------------------------------------
CHANGE IN OPEN INTEREST ANALYSIS
High change in OI in CE strike as per Option data will act
as a major Resistance
R1- 12000 Strike
R2- 11900 Strike
R3- 11750 Strike (NEAR FROM SPOT)
High change in OI in PE strike as per Option data will act
as a major Support
S1- 11600 Strike (NEAR FROM SPOT)
S2- 11500 Strike
As Per Change in OI data 12000 is a strong Resistance
and 11500 is a support. Resistance is clear than support
as per OI data
-----------------------------------------------------------------
TECHNICAL ANALYSIS
Day basis NIFTY is Bullish near no resistance
Weekly basis 11600 broked and sustained above this level
showing bullishness
CONCLUSION
If crosses above 11686 will create the momentum to lead the NIFTY
to reach out 11800/11900
Sell Only below 11530 anyways strong sell if sustain below 11500
to reach 11200/11100
----------------------------------------------------------------
The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS
Dear followers,
--Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately.
--Sustain means price should need to spend on time in our buy or sell level, then only enter.
--My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid.
--For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame.
--Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one
--Patience most important. Be patient and do the right things continuously the right one will come.
----------------------------------------------------------------
The Profit Patterns
-----------------------------------------------------------------
LIKE & FOLLOW TO SHOW YOUR LOVE & SUPPORT
