Sunday, August 8, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 09 Aug

     

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



Nifty Analysis


Key  Data

Put / Call Options

Call Max Traded Strike Price16300.00
Call Max Traded SP Contracts66585
Call Option Open Interest18782.05 K
Call Option OI Chg %-1.58
Put Max Traded Strike Price16200.00
Put Max Traded SP Contracts65424
Put Option Open Interest33719.95 K
Put Option OI Chg %-0.411

Put Call Ratio - 26/08/2021

Put Open Interest33719.95 K
Call Open Interest18782.05 K
PCR Open Interest1.80
PCR OI ReadingStrong Bearish
Put Contracts Traded557870.00
Call Contracts Traded367649.00
PCR Volume1.52
PCR Vol ReadingStrong Bearish

Call option data

Maximum Call open interest of 20.67 lakh contracts was seen at 16500 strike, which will act as a crucial resistance level in the August series.


Read Also -  TCS | Stock Analysis & Price Outlook

Put option data

Maximum Put open interest of 30.50 lakh contracts was seen at 16000 strike, which will act as a crucial support level in the August series.



 Levels to Watch

The Nifty has formed a strong breakout formation, which indicates a further uptrend from current levels. 

The medium-term trend is bullish and buying on dips and selling on rallies would be the ideal strategy for the positional traders.

The 16,150-16,050 level would be the strong support zone for the index. Trading above the same, the uptrend wave is likely to continue till 16,400-16,550 levels. Below 16,050, breakout traders may prefer to exit from trading in long positions.

the key support levels for the Nifty are placed at 16,195, followed by 16,148. If the index moves up, the key resistance levels to watch out for are 16,298 and 16,384.


BankNifty 

The Nifty Bank declined 25.55 points to close at 35,801 on August 6. The important  level, which will act as crucial support for the index, is at 35,456, followed by 35,151 . On the upside, key resistance levels are  at 36438  and 36,985 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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