NIFTY Going Towards 15960 ?

23 Mei 2021

Nifty Weekly Analysis

Nifty Closed 14175.30 On Friday . 520 Points And 3.49 % Gains From Previous Week Closing .

Momentum Was Very strong and it helped it Breaking Out From A Crucial Resistance Level Of 15050 , And Given Strong Closing Above it , It Showed A Strong Momentum Built Up For Coming Weeks .

FLAG BREAKOUT Also Seen In Technical Chart .

Whereas On Derivative Data , Strong Support Built Up On 15000 Strike With 14L Shares



Unwinded On CE Side and 19L Shares Added On Put Side And it taken it to the PCR OF 1.17 .


https://s3.tradingview.com/snapshots/u/uJeQPLJW.png

s3.tradingview.com/snapshots/u/uJeQPLJW.png


Strong Put Writing Also Seen on 15100 Strike .

On Call Side 15500 Have MAX Resistance with 0.31 PCR And 11.5 L Shares Added On Friday .


ON Future Data .

Volume Of Weekly Breakout Candle Is Not Satisfying ,Its Below 20SMA .
OI Indicating Flat to Decreasing In Open interest . 1 Day ( -1.31 % ) , 5 day ( -2.01%)

Implied Volatility Standing At 16.72 ( Decreasing From Couple Of Sessions )

IV Percentile Standing AT 1.59 Lowest In 2 Years .

RSI Giving Strong 40-60 Consolidation Breakout ( Bullish )


Interpretation
Nifty Looking Strong ( Bullish )

Can Face A Resistance At Supply Zone 15320 - 15430 ,( Profit Booking Best Point )

Nifty Has Supports 14880 , 55 Days ( SMA )


NIFTY UPSIDE TARGETS :- 15598 , 15780 , 15920 - 60

NIFTY Is On Buy On Dips Structure .

6 Jun 2021

Trading ditutup: target tercapai

15598 Done