Nifty 50 EndeksiEğitim
Nifty
Divergence play. Nifty rose from the low of 10006 on the back of Positive Divergence and reached 100 DMA. a) Nifty could not hold above 100 DMA. b) 11000 Call has had the second highest OI. So strong resistance. c) Negative Divergence proved to be the deterrent for bulls. Once Divergence strikes, price move is unstoppable.
Now, Nifty closed ted below 200 DMA. So remaining below 200 DMA, Nifty may come down to test Golden ratio and 50 DMA at 10574 for support. Below 50 DMA channel support may be tested. Next week is expiry and is a truncated one. After the big fall expect some profit booking and consolidation on Monday.
OI Table: In a swift move, bears created huge position at 11000 Call -- total 5875425 shares-- highest OI position and pushed Nifty by 200 points. Bulls are holding onto 10000 Put strike which is far below.
Now, Nifty closed ted below 200 DMA. So remaining below 200 DMA, Nifty may come down to test Golden ratio and 50 DMA at 10574 for support. Below 50 DMA channel support may be tested. Next week is expiry and is a truncated one. After the big fall expect some profit booking and consolidation on Monday.
OI Table: In a swift move, bears created huge position at 11000 Call -- total 5875425 shares-- highest OI position and pushed Nifty by 200 points. Bulls are holding onto 10000 Put strike which is far below.
Feragatname
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