IGI Logo

Nifty

Index continues to remain on track while momentum may only be distorted in case it slips below 14550. Option data indicates firm writing bounds been placed at 15000-14500 with an intermediate support near 14700. Even on its intraday scale slippages only below 14685 would result into a sideways consolidative range for the day. Traders should ideally deploy mean reversion trades & consider contra trades incase the price action develops around its option range for the day. OI-PCR is placed below 1 which supports the ongoing bullish bias while option pain zone as of now stands at 14700 hence we may see this level acting a mean / momentum gauging level for the expected trading range for the day

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.tradebulls.in/Static/Disclaimer.aspx

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer