Nifty view with help of data

Nifty view with help of data

Now nifty resistance at 19080-19150 areas
Till it’s trading below this
*agressive long should be kept in check*

On downside, support major at 18600~ which is 200 sma

The overall trajectory if we see nifty
1) a dual top formation
2) trading below neckline
3) trading below key averages

4) trading today+2 day below lows of 25 Oct ie not able to inch up

5) now any bounce towards 19130-19150 could be a zone where long may reduce their position.

Fno data;-
Cumulative oi up 2% in early trade with fall in price

On 02 November chain:- aggressive short built up at 19100 and long unwinding at 19200 .

Aggressive long build up at 19000 & 18950 put strike of about 25 lac each.

Jodi premium:- 110+90=~200 (18950 strike)
Ie 18750-19150 trading range

Summarising:- bounces may come but at current juncture the picture looks weak till we are below 19150 mark

View on r/IndianStreetBets by TechnoFundaAnalysis

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