Nifty Analysis : 27 June 2019
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.
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Do share with your friends as well.
If you have any suggestions please post a reply.
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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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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 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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