The options market indicates that the highest open interest on the call side is at the 22500 level, while on the put side, it's at 21700. In todays option chain, Higher call writing is witnessed compared to the put writing which indicates a negative ...
Dear Smart Investors, Greetings !! We are a SEBI regd Investment Advisory Services and we do provide Free updates on Website to spread Financial Education. New articles have been published on Indian-Share-Tips.Com. Do check our Best Bank Nifty Option Tip for Intraday which gets you Daily Profit with a small capital of Rs 10,000. You can visit at https://www.indian-share-tips.com/2009/09/best-nifty-future-tips-100-guaranteed.html Speak to Analyst at 09988877963 or send an email at Support@Indian-Share-Tips.Com and You will Listen from us in less than 3 hours. Please Click on Below links given out of this black border box to access latest updates. Regards Indian-Share-Tips.Com 9988877963 | | The options market indicates that the highest open interest on the call side is at the 22500 level, while on the put side, it's at 21700. In todays option chain, Higher call writing is witnessed compared to the put writing which indicates a negative sentimentThe Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 21935 and 22095. The Max Pain is seen at 22100 Thursday, March 14, 2024NCDEX Steel APR Trend DownSupport S1 41850 S2 41600Resistance R1 42630 R2 42880 *NCDEX Jeera APR Trend Down*Support S1 24510 S2 24070Resistance R1 25830 R2 26270 *NCDEX Turmeric APR Trend Down*Support S1 18970 S2 18700Resistance R1 19770 R2 20040 *NCDEX Coriander APR Trend Down*Support S1 7950 S2 7880Resistance R1 8180 R2 8250 *NCDEX Sunoil APR*Support S1 830 S2 Past couple of months I have been telling that we are in middle of UNSEEN BULL MARKET where it is tough to pick top at the right level & at 19000/20000/21000 so on people tried to pick the top but failed & even at one point of time between 20200/20800 zone I too gave a big red flag to stay cautious for 15 days but eventually that time market negated that view & gradually with Nifty @ 21997.70 Alternative-1• Here I'm analyzing the entire move which started from 18837 low till recent high of 22526 spot levels.• As per this formation from low of 18837 till high of 19875 we got wave i. • From high of 19875 till low of 19667 we got wave ii with shallow pull back.• From low of 19667 till high of 22124 we got wave iii.• From high of 22124 Nifty @ 21997.70 #Alternative-2• In this formation I have make little adjustment in the wave counts because of the charting formation between the entire move 21135 low 22526 high. • In my previous alternative-1 I have shown 21135 low till high 22526 move as an ending diagonal and showing that wave v is completed at 22526 and now we are in middle of correction but in this Bank Nifty @ 46981.30 Alternative-1• In bank nifty there are many alternative open which is little bit confusing at this point so I'm not showing the wave markings because I too need some evidence to plot the wave markings but here I'm showing the levels & direction.• As per this formation we have seen a divergence between nifty & bank nifty where nifty posted a new high Bank Nifty @ 46981.30 Alternative-2• As per this formation entire up move from 42105 low till high of 48636 is wave I.• From high of 48636 till low of 44429 is wave II & from low of 44429 wave III move started.• Entire up move from 44429 low till high of 48175 is a Leading Diagonal & at 48175 we got our micro wave I of 3rd & currently bank nifty is in middle of micro wave II of 3rd Nifty Midcap 100 @ 45971• This looks scary to me, as per this wave formation nifty midcap 100 has completed a 5 wave cycle which started from June 2022 low which is 25127 & at recent high of 49780.75 it has posted a short term top in mid cap index.• Normally any index when it completes a 5 waves cycle it retraced the entire up move by minimum 38.2% & max 50 to 66% & here 38.2% level Some of Nifty 50 Leaders support levels to watch out in days to come to get an idea which leader is trying to lift the nifty up & which one is trying to drag nifty down, this are the key support to watch to get some judgement on nifty direction & it's up move #HDFCBANK 1420#ICICIBANK 1038/970#RELIANCE 2836/2700#TCS 4099/4054#ITC 410#KOTAKBANK 1630/1600#LT 3400 Nifty Small cap 100 @ 14295• As per this formation nifty small cap index has completed a 5 wave cycle which it started from June 2022 low & at recent high we got 5 waves cycle move & currently stock is retracing the entire up move. • Till now small cap index has retraced below 23.6% & its 38.2% fib support coming to 13356 & 50% coming to 12131 and lower band of rising channel | |
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