Nifty Analysis : 25 June 2019
Hello Friends,
Nifty opened today at 11681 which is slightly lower than yesterday's close & continued to move lower to touch intraday low of 11651.
Nifty was unable to sustain at lower levels & gained strength to recover initial down move.
It touched intraday high of 11814 and closed just below 11800 at 11796.45.
Today's buying has created a bullish candle on daily chart. It has created Bullish Engulfing pattern.
However, Nifty has still not crossed, high of 11850 which is important hurdle for continuing the up move.
Nifty is still trading in a range of 11850 and 11600 levels.
Option chain shows significant put writing at 11700 level which should act as important support.
Highest Call OI is at 12000 level followed by 11800 and 11900. These levels will act as resistance.
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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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Nifty opened today at 11681 which is slightly lower than yesterday's close & continued to move lower to touch intraday low of 11651.
Nifty was unable to sustain at lower levels & gained strength to recover initial down move.
It touched intraday high of 11814 and closed just below 11800 at 11796.45.
Today's buying has created a bullish candle on daily chart. It has created Bullish Engulfing pattern.
However, Nifty has still not crossed, high of 11850 which is important hurdle for continuing the up move.
Nifty is still trading in a range of 11850 and 11600 levels.
Option chain shows significant put writing at 11700 level which should act as important support.
Highest Call OI is at 12000 level followed by 11800 and 11900. These levels will act as resistance.
--------------------------------------------------------------------------------
If you like, please follow the blog to get the regular updates of new posts.
Do share with your friends as well.
If you have any suggestions please post a reply.
--------------------------------------------------------------------------------
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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