Market Analysis 23 April 2019

Slight Short positions were created in Nifty Futures

No Signs of SShorts in Bank Nifty Futures.

Heavy Profit booking in Bank Nifty Index.

Crucial Support for Nifty is at 11580-11550-11540

Shorts could be build if Nifty violates 11580-1575 levels.

Nifty is at Important 20 DMA

Highest Put Open Interest Stands at 11500

Highest Call Ope Interest Stands at 11700 and 12000

Max Pain Moved Down close to 11600

Bank Nifty

20DMA has been Violated and closed.

29640 would be critical for Bank Nifty.

Technically it is week.

29600-29640 would be crucial

Highest Open Interest is at 30000 Call

Highest Open Interest is at 26500 Put.

If Bank Nifty Violates 29640-29630 then new shorts could be build by FII.

VIEW: Today is very crucial to see if Bank Nifty Regains 20 DMA and does not break Technical Levels.

Bank Nifty Range:29500-29800 . Expecting Mild Positive-Mild Negative.

Nifty Very Crucial Levels. should Hold 10575 levels and expecting Mild Positive.

 

 

 

 

 

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