Nifty Analysis : 24 June 2019

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Hello Friends,

Nifty opened flat at 11725.80 and hit an intraday high of 11754. However, unable to sustain above 11750 and erased all the gains and became bearish.
It touched intraday low of 11670 and closed at 11699.65.
India VIX moved up by 3.91 percent to 15.18.

Nifty remained range bound between 11754 and 11670 levels through out the trading session.


On Daily chart, Nifty have formed a small doji candle.
For past 2 days, Nifty is range bound inside the long bullish candle formed on Thursday.


In the above snapshot of option chain we can clearly see, call writing at 11700, 11750 and 11800 levels and Put writers are exiting from the same levels.
Maximum Call OI is at 11800 and highest Put OI is at 11500 levels. These levels should act as important resistance and support levels for June expiry.

Till we see decisive break of 11600 on the down side and 11850 on the upside, we can expect to see consolidation coming sessions.

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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.
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