IGI Logo

Nifty

Index falls back to the lower end of the ongoing oscillating range of 15930-15630. A breach below 15630 (CLBS) could push the index lower towards 15400-15450 (Intermediate Support) while an up move could see resistance near 15930 for the week. Options data indicates an ideal scenario for a strong rebound from the lower end of the ongoing range as PCR OI is now quoting around 0.8 with highest PE OI concentration around 15600. On the other hand RSI is also placed at the lower end of the channel range but below its 50 mark. Hence the level of 15630 remains a make or break level for the ongoing oscillation, with its current proximity towards its lower end its ideal to add longs with a stop below 15630 (CLBS).

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