Technical Analysis:-
According to monthly, Chart Nifty is taking resistance near To 20 EMA and It has strong resistance at 10940 levels.
Till now candle is bullish so can’t expect much bearish, Coming to support level 10390 acts as strong support.
Coming to the weekly chart, last week Nifty make a Marabozu candle but this week it is consolidating within 200-300 point and make a kind of Dozi candle, Once the high break i.e. 10850 levels then we can see Move Upto 11000 and this level act as strong resistance and if the low of this candle breaks i.e. 10676 levels then we can see Nifty take support at 10400 levels and this will act As strong support. Coming to daily chart Nifty has strong resistance at 10950 levels which is window gap coming to downside Nifty has strong support at 10500 levels near To 200 EMA and once it breaks then 10400 has strong support and 20EMA Is also near to that only, Till now I am not having much bullish not much bearish view once It’s not going to break the range either high or low of this week candle.

Coming To Option Chain Data:-
Put side 10600 has the highest open interest more than 18lakh with the highest change in Open Interest more than 8 lakh. So, his level Can act as a strong support level once it breaks 10500 has 2nd highest open interest more than 17 lakh with a change in open interest also more than 5 lakh. coming to call side data 10800 has the highest open interest more than 23 lakh with the highest change in open interest more than 12 lakh. So, this level can act as strong resistance once this resistance will break then we have 11000 levels has the highest open interest more than 25 lakh with the highest change in open interest more than 12 lakh coming To PCR value is 0.94 which indicates neutral by seeing All the data and technical View.

  • Range For This Week Is 10400-11050 Level
  • This Is the Extreme Range what I have, I am Expecting Nifty To Trade Between This Level
  • You Can Do Your Own Analysis Also If it matches my view then You can Go for it.
  • Hope This Analysis Will help In Your Trading For Coming Week

Thank You Analysis By, Mr Suraj Kaushal (Trader)

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