NIFTY X-RAY REPORT FOR 10 JAN
Since I went to PURI (in ODISSA) price wise nothing much changed in last five days on nifty daily chart till my returning today but chart is saying something different. As shown in nifty daily chart below a mid term lower trendline has broken today and a another trend line is around 5935 level. We may assume this level as a trend decider level. Nifty on weekly chart upper trend line is indicating a move till 6300 level in few weeks. Nifty will remain in buy in dip mode until unless nifty break this level. Any close below 5930 may change the short term sentiments. Negative divergence seen on daily chart but not seen on weekly chart so no need to be largely bearish. As per nifty option open interest data 222500 fresh contracts added in open interest of 5900 put. Nifty 6200 call has highest open interest and 5800 put has highest open interest in this series indicating upper and lower boundary of this series. Short term lower trend line support coming at 5935 so expect that level will work as support on nifty in near term. Put call ratio is at 1, confusing trend according to put call ratio. RSI and slow stochastic is falling mode on daily chart.
5960-5935 is support on daily charts. Any dip should use as buy on nifty further.
Since I went to PURI (in ODISSA) price wise nothing much changed in last five days on nifty daily chart till my returning today but chart is saying something different. As shown in nifty daily chart below a mid term lower trendline has broken today and a another trend line is around 5935 level. We may assume this level as a trend decider level. Nifty on weekly chart upper trend line is indicating a move till 6300 level in few weeks. Nifty will remain in buy in dip mode until unless nifty break this level. Any close below 5930 may change the short term sentiments. Negative divergence seen on daily chart but not seen on weekly chart so no need to be largely bearish. As per nifty option open interest data 222500 fresh contracts added in open interest of 5900 put. Nifty 6200 call has highest open interest and 5800 put has highest open interest in this series indicating upper and lower boundary of this series. Short term lower trend line support coming at 5935 so expect that level will work as support on nifty in near term. Put call ratio is at 1, confusing trend according to put call ratio. RSI and slow stochastic is falling mode on daily chart.
5960-5935 is support on daily charts. Any dip should use as buy on nifty further.
