Trade Plan for Tomorrow
1) Trend:
On daily chart BNF is below 20 sma & also taken resistance at 20 sma which is a bearish sign
Also for last 3 days, itโs facing selling pressure around 34800
Low for the week is 34100 (support)
1) Trend:
On daily chart BNF is below 20 sma & also taken resistance at 20 sma which is a bearish sign
Also for last 3 days, itโs facing selling pressure around 34800
Low for the week is 34100 (support)
2) Options Data
Max Put OI is at 34000
And Max Call OI is at 35000
Also fresh addition seen at 34500 today
So data is saying 34000 will act as support & 35000 will act as resistance
Max Put OI is at 34000
And Max Call OI is at 35000
Also fresh addition seen at 34500 today
So data is saying 34000 will act as support & 35000 will act as resistance
3) Futures Data
Nifty saw fresh shorts today whereas BNF is relatively strong
So one of the index may give up tomorrow
Nifty is at weekโs low and forming lower lows
Nifty saw fresh shorts today whereas BNF is relatively strong
So one of the index may give up tomorrow
Nifty is at weekโs low and forming lower lows
4) Conclusion:
Price Data + OI data indicating 34000 as good support & 34800 as resistance
So big move possible on break of 34000 or 34800 (last 3 day getting rejected from 34800)
Tomorrow being a montly expiry, chances of big move possible.
Goodluck for tomorrow๐๐ป
Price Data + OI data indicating 34000 as good support & 34800 as resistance
So big move possible on break of 34000 or 34800 (last 3 day getting rejected from 34800)
Tomorrow being a montly expiry, chances of big move possible.
Goodluck for tomorrow๐๐ป
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