5EMA@ 8507
20EMA@ 8346
50EMA@8163
100 EMA@ 7995
Nifty managed to closes at 8541.Nifty looking so strong on
monthly chart as it is still providing closing with strong green body on
monthly continuously fifth month and current month still looking so strong. If we
talk about weekly chart Nifty made an
opening white body marubuzo which is bullish pattern, and on daily chart Nifty
has formed bearish harami which is bearish reversal pattern which requires
confirmation like if on Monday real
black candle will confirm reversal, so we can say that monthly and weekly chart is
looking so strong but on daily chart is
looking bearish bias as we already know that nifty managed to close above 61.8 retracement
level from 9119 to 6825. If we talk about option data of july series maximum
open interest is on 8700 CE and highest open interest is added on 8400 PE which
can act as support and resistance. So finally we can conclude that remain in
trend and use buy on dip strategy and anyone going against the trend book
profit time to time.
NIFTY SUPPORTS: 8491,8451
NIFTY RESISTENCE: 8626,8651
This is for my study purpose not for trading, kindly use your own for trading thanks.
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