Nifty Opens big Gap down below 22000 but in first 15 minute, it comes above 22000. And the following candle do the rest. Nifty comes in little safe zone in 1st 30 min. i.e. 22050 and the bearishness has been overrulled totally. After 1 hour of Trading, Nifty plays between very tight trange of 22050-22100.
Nifty 50 closes at 22082.65 today which clearly indicates that Nifty don’t want to go below 22000.
Open Interest –
Support – 22000 – PE 89 LKH
Resistance – 22200 CE 85 LKH
22,200 Call writers were aggressive, showing strong resistance, while 22,000 Put had high open interest, acting as support
It clearly showing that Nifty can go 22200 without any fear. India VIX is also very stable.
Sectors – Nifty AUTO adn IT was little weak today rest sectors performed well. PSU Bak leads today’s Rally.
What will be the Next Move.
Not a prediction but It seems Nifty can be bullish tomorrow. Key Levels are 22050, 22125, 22215
Comment below with your views on market. Have the market made It’s Bottom.
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I think Bullish
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