Nifty Analysis : 14 May 2019

-


Nifty Analysis : 14 May 2019

Hello Friends,
  • Today, on 14th May, Nifty managed to closed on slightly on positive note at 11222.05
  • In today's session, Nifty opened flat and traded sideways till 1 PM. After 1 PM there was sharp move towards upside.
  • On daily chart, nifty has clearly taken support 100 DMA and bounced back.
  • Prices did not managed to sustain near high of yesterday (11300.20) & came down sharply.
  • This indicates overall selling pressure still persists as per FII Data.


Daily Chart:


For coming trading sessions:

  • Its important to watch if prices is able to sustain above 11300 for upside
  • If price breaks 11100 on down side, further sell off may be seen
  • On the downside 11000 may act as a support
  • May Expiry Option open interest data also shows 11000 strong support with highest OI of 2,628,450 contracts



--------------------------------------------------------------------------------
Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose.
I am not responsible for any gain or loss arising out of trades taken based on the study shared above.
--------------------------------------------------------------------------------

Comments

Post a Comment

Popular posts from this blog

Nifty Analysis Week ended 10 May 2019

-
Image
Nifty Analysis Week ended 10 May 2019 Hello Friends, This is my first and newly started blog especially for Nifty 50 Index analysis. I will be posting Technical analysis of Nifty 50 Index. Weekly Chart Analysis: This is high volatility period for Indian Markets as we have important political events, yes.. Election outcome. We can clearly see, that nifty is not able to sustain above resistance levels & during last week there was a sharp fall. There was huge selling pressure throughout the week. In the below chart, I have 50 period moving average which had given good support / resistance in the past. Daily Chart Analysis: On the daily chart, RSI had given early indication of weakness in the up move by showing negative divergence. Overall fall has retraced between 38.2% and 50% Fibonacci levels. Prices have already fallen 5 % from high of 11856 to 11251 For next trading sessions, its interesting to see if Nifty takes support around demand zone (marked wi
Read more

Nifty Analysis : 27 June 2019

-
Image
Hello Friends, On 27th June, monthly expiry day, nifty opened at 11860. During the day it touched high of 11911. Nifty washed out initial gains in the last couple of hours of trading session. Nifty failed to sustain above 11900 and corrected to hit intraday low of 11821 before closing flat at 11841. On daily chart, it has formed a bearish candle with long upper shadow which is similar to shooting star pattern. The pattern confirmation will come if nifty breaks 11820 on the down side and come under further selling pressure. 4th July weekly expiry option chain shows highest Call OI at 12000 and highest put OI at 11800 followed by 11700 levels. These levels should act as important resistance and support levels for the coming trading sessions. Due to upcoming budget on 5th July, we may see high volatility during the week. -------------------------------------------------------------------------------- If you like, please follow the blog to get the regular updates of ne
Read more

Nifty Analysis Week ended 31 May 2019

-
Image
Hello Friends, Last week on 23rd May Nifty touched it's all time high of 12041 and shaded all gains due to profit booking. These week as well, nifty did not broke it's last week's trading range. During the week, Nifty traded in the range of 11800 & 12040. Let's look into weekly and daily charts for analysis... Weekly Chart: We can see selling pressure at 12000 to 12050 levels, which has pushed nifty below 12000 for 2 weeks in a row. On the weekly Chart nifty have formed inverted hammer pattern for this week. This week's range becomes support and resistance and sustainable breakout will be important to see further trend. Daily Chart: Bears have managed to push nifty for negative closing for 3 out of 5 trading sessions. Nifty movement has been range bound between 11800 and 12050. RSI, an important indicator is neutral. 5 DMA continues to provide support on daily chart. Options Chain Analysis: For 6 June weekly expiry option chain,  118
Read more