Hello Friends,
Previous Day: Finally some resistance faced by Nifty as told 12k big mark to cross; market opened near but rejected as soon. Also seen Trend break which shows some weakness now on upside and momentum pause.
Participant Wise: FII and Pro changed Bearish position; when clients opposite increased bullish position. Pro Net bearish.
OI Based: Nifty showing momentum lost with Future OI unwinding(Profit booking) and Bank nifty Fut OI flat change.
Trend: Multi timeframe, showing bullish trend. Only 15mins and hourly chart showing little divergence but until YL safe stay with bullish trend. Also hourly trend break.
Opening: SGX showing flat opening and insider day.
Range: Resistance 12000, 11945 & Support 11800 and 11870.
Option Data: Big 12k call short happening yesterday which making important resistance for current weekly expiry.
Overview: Long be caution now, only try until YL protected. If sustain below Low then can see Long Unwinding day. Trend break and Participant data showing either some sideways or retracement possible.
Thanks n Regards!
SanJeet Kumar
Twitter: www.twitter.com/sanjufunda
Telegram: t.me/sfviews
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