Stronger hands preferred exiting longs By Sneha Seth, Angel Broking
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/01/b29fa0c6dc5ff3be7e7a3d0435f814b4.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below are Views On Stronger hands preferred exiting longs By Mrs. Sneha Seth (Derivatives Analyst, Angel Broking)
“Post last two sessions strong upmove, we began the weekly expiry day on a cheerful note tad above 14700 mark amid positive global cues. As the day progressed, the benchmarked consolidated for initial few hours and then all of a sudden we witnessed a sharp sell-off to drag index towards 11500 mark. Eventually, due to some recovery in last few minutes index concluded the day tad below 14600 mark.
Recently, we did saw some longs in Nifty but during this period stronger hands preferred unwinding their longs. Their index futures ‘Long short Ratio’ plunged to 63% from 80%(seen during start of January series), which clearly suggested they don’t expect major upside from hereon. Considering at today’s sell-off, the put writers of 14300-14600 ran to cover their positions. Whereas, meaningful positions were formed by call writers in 14600 strike. Considering today’s development, we believe 14650-14750 to now act as a hurdle immediate support is placed around 14500 mark.”
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Shivam Thakral, CEO of BuyUcoin.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tesla117117.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dilip Chenoy, Chairman, Bharat Web3 Association.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/National Health Mission.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Vikas Gupta, OmniScience.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/202407243192131.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/06/fc4f4e055fbeb1c90e1947acbc9ed535.jpg)
On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
![Nifty started the day marginally positive and traded in a range for the first couple of hours - Angel One](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/76f068e997559da07c573304813e5eb1.jpg)
![Quote on Real-estate sector update By Mr. Yash Gupta, Angel One Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/4b5a0a599bcbe376a888db007b60cf05.jpg)
![Our markets had a remarkable comeback in last four sessions as we not only managed to recover from lows but also went on to clock fresh highs - Angel One](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/1ed485bceaf71b7ee647be1831341885.jpg)
More News
![](https://portfolio.investmentguruindia.com//uploads/news/Ajit Mishra.jpg)
Daily Market Analysis : Nifty has finally surpassed the hurdle at 19850 and now we expect th...
![Market Quote : Crude prices fell over recessionary fears, it will reduce the cost burden of these sectors By Vinod Nair, Geojit Financial](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/07/cb110b94c0da01cf294c05efeb5f3e4f.jpg)
![Market Quote 17th December 2021 By S Ranganathan, LKP Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/12/fc4c3948bbf0e9ba3ebde1064f52f4e0.jpg)
![Market Quote : Markets extended gains for the third successive session and settled around the day`s high By Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/07/b905d1870f8f561584c1756713bc1f00.jpg)