Nifty
- most of the lines and channel are in continuation from our previous analysis
- we see a new Dark Maroon line which has been broken on the 5th attempt
- Going forward, that line may have the potential to act as Line of Resistance for any pullback rally
- the zone of 14445-14498 is very important
If Nifty does get resisted, there could be Swing trade Potential opportunity...
Important level on the upside : 14445 / 14498 / 14530 / 14567
Important levels on the downside: 14288 / 14230 / 14193 / 14148
Also Data analysis suggest that Prima facie, Maximum Call option buyers would want a close above 14630 / 14691 / 14756 to be profitable on expiry day.
With Tuesday also being a holiday, this time, time could be more in favor of Call writers / Sellers
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Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be