Nifty for coming week from 27/03/2017 to 31/03/2017


posted by Paritosh on Sat Mar 25, 2017 10:17 am

#1

Nifty RECAP:
Nifty for the previous week opened higher at 9167 and after making a weekly high of 9167.60 headed lower to make a low of 9019.30 and gave a close at 9108.

OPTION Facts:
Highest CALL OI at 9200 & Highest PUT OI at 8800.

PUT - Call Ratio Stands at 0.98 which can be said equally balanced between bulls and bears.

Chart Analysis:
After analyzing the charts it can be suggested from my side that, Nifty for the coming week will trade with support in the range of  9020-8990, so any dips around the said level can be seen as an opportunity to become bull.
While on the upside 9190-9220 will act as resistance zone, so any rise around said level can be seen as an opportunity to exit from becoming bull.

Thus concluding, it can be said that we can see Nifty moving in range of 200-250 points for the coming weak.

Break below 8990 will be seen as a threat to bulls, wherein bears will have power to take nifty till levels around 8850.
Break above 9220 will be seen as a threat to bears, wherein bulls will have power to take nifty till levels around 9350. 



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