The open interest provides quite a lot of information to access the likely direction of the index during the course of the trading. We are here analysing the open interest in Nifty index to arrive at correct support and resistance level for the index
Maximum Put: 9000 Strike ( net Put is higher here at this strike as compared to 9500 strike)
Maximum Call: 9500 Strike
So, we can safely assume that during the week we might see the Nifty index consolidating between the Nifty Support: 9000 and Nifty Resistance: 9500 levels.
Crossing above 9259 is going to be a bullish indicator and breaking below 8800 may mean that we may head for 8500,8000 mark.
In our last analysis we had discussed that how Nifty has broken the key last 11 years trend line and was signifying a downward bias and the same exactly happened. You can make extra money during these trying times caused during the Coronavirus crisis using the best bank nifty option trading technique to make money daily in the market.
Maximum Put: 9000 Strike ( net Put is higher here at this strike as compared to 9500 strike)
Maximum Call: 9500 Strike
So, we can safely assume that during the week we might see the Nifty index consolidating between the Nifty Support: 9000 and Nifty Resistance: 9500 levels.
Crossing above 9259 is going to be a bullish indicator and breaking below 8800 may mean that we may head for 8500,8000 mark.
In our last analysis we had discussed that how Nifty has broken the key last 11 years trend line and was signifying a downward bias and the same exactly happened. You can make extra money during these trying times caused during the Coronavirus crisis using the best bank nifty option trading technique to make money daily in the market.
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