Nifty is now presenting a contradictory picture. On one hand, the derivative data show an immensely strong undercurrent; on the other hand, the structure of the charts stay highly overstretched.
Some points need to be taken seriously
High Put writing at 14400 levels
Maximum Call OI shifted to 14800 levels
The NIFTY PCR (all expiries) stays very strong at 1.80, but at the same time, it is overbought.
The levels of 14520 and 14630 will act as immediate resistance points.
The supports come in at 14380-14400 and 14365 levels.
Regards,
Neeraj Bhatia
Managing Director
www.crbpvl.com
Comments