Sunday, July 18, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 19 July

    

Stock Market Tomorrow | Nifty Pre Market Strategy | finvestonline.com



Nifty Analysis


Key  Data


The Nifty failed to gather strength in upside momentum to move up decisively on Friday. This lack of strength could be a cause of worry for the bulls at the highs. The index hit a record high of 15,962.25 on Friday, but closed at 15,923.40.

The Nifty50 formed Hanging Man kind of pattern on the daily charts on Friday, and there was bullish candle formation on the weekly scale. The index was down 0.8 points on Friday and gained 1.5 percent during the week, consistently holding 15,900 levels.


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Futures Summary
Closing Price15936.00Premium/Discount12.60
Previous Close15937.30Change %-0.0082
Futures OI9457.25 KChange %-3.16
Futures Contracts80.22 KChange %-17.20
Call Summary
Max Traded Strike Price16000.00Contracts123.95 K
Cumulative Call OI22233.15 K% Change14.26
Put Summary
Max Traded Strike Price15900.00Contracts111.84 K
Cumulative Put OI28696.65 K% Change2.11


Put Call Ratio - 29/07/2021

Put Open Interest28696.65 K
Call Open Interest22233.15 K
PCR Open Interest1.29
PCR OI ReadingStrong Bearish
Put Contracts Traded840720.00
Call Contracts Traded682603.00
PCR Volume1.23
PCR Vol ReadingStrong Bearish

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On weekly option front, the maximum Put open interest was seen at 15900 followed by 15800 and 15700 strikes while maximum Call open interest was seen at 16000 followed by 16500 and 16200 strikes.

Call writing was seen at 16000 strike followed by 16500-16200 strikes while Put writing was seen at 15300 strike followed by 15900 and 15700 strikes. Option data indicated an immediate trading range for the Nifty at 15,700-16,200 zones.

Long positions can be formed only till the Nifty sustains above 15,800, which is the major Put base. A move below 15,800 may keep the ongoing rangebound movement intact.


Chart & Levels

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If Nifty fails to sustain above 15,960 levels in the next 1-2 sessions and corrects down, then such market action could be considered as a failed upside breakout and that could possibly start selling enthusiasm from the highs.

 Strength above 15,960 could only open the next upside levels of 16,100-16,200 in the short term. "Any weakness below 15,850 is likely to trigger broad based downward correction in the market to the levels of 15655


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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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