Thursday, July 8, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 08 June 21

    

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

Stock Market Today 

The BSE Sensex climbed 193.58 points to 53,054.76, while the Nifty50 rose 61.40 points to 15,879.70 and formed a bullish candle on the daily charts.

The daily price action has formed a bullish candlestick pattern carrying a long lower shadow indicating buying support at lower levels.




Nifty Analysis


Key  Data



Call option data

Maximum Call open interest of 28 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level in the July series.

This is followed by 16500 strike, which holds 16.43 lakh contracts, and 16200 strike, which has accumulated 15.12 lakh contracts.

Put option data

Maximum Put open interest of 34.06 lakh contracts was seen at 15500 strike, which will act as a crucial support level in the July series.

This is followed by 15,200 strike, which holds 20.64 lakh contracts, and 15,800 strike, which has accumulated 13.59 lakh contracts.



Price Levels


As discussed yesterday that market will be nervous in the first half and will stronger as the day progress and market moved as expected. The next higher levels to be watched are around 15,900 levels. Any sustainable move above 15,900 levels may cause momentum towards 16,000-16,050 levels.

On the downside, any violation of an intraday support zone of 15,800 levels may cause profit booking towards 15,750-15,700 levels.





Thanks for your Precious Time.


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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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