Nifty - Weekly Expiry

20 Okt 2022

Nifty's opening gap down.

Should swiftly move to 17467.

Targets, support, resistance are mentioned.

20 Okt 2022

Nota

17465-17475 Zone provided support to Nifty previous 2 days.

So, when the index opened below this zone, but close to it, it would move up to the zone. The first attempt failed. I suspect more attempts will follow.

17404-17415 is a support zone for now.

20 Okt 2022

Nota

The targets
* 17467 - Done.
* 17496 - Done

Until the first 2 Hour candle closes, I won't take a rigid bearish/bullish view.

20 Okt 2022

Nota

Third target - 17512.4 Done.

Nifty may see 17530, but may be after a pause.

20 Okt 2022

Nota

1st 2 Hr Candle closed at 17480.3

Although it's above the support zone I mentioned at the start of the day, I don't feel confident about staying long for a lot of time. Only small targets.

Watch for Nifty changing trend. The moment 30 min candle closes below 17465 - short Nifty - Targets 17448, and Day's opening of 17423, and if that's achieved, then 17400-17405.

Long above 17512(or 17500 based on your risk appetite) for a target of 17532.

20 Okt 2022

Nota

Either towards 17580 or towards 17380 - appx.100 points move on either side. One of this will happen today.

20 Okt 2022

Nota

17600 Calls have the highest OI. Also, 17500 calls are getting unwind.

I feel tracking 17500 calls is the key.

If there is a build up, it means index headed to 17400-17380
If the unwinding continues, index headed to 17580-17600.

There is a 3rd possibility that Nifty will close somewhere in the vicinity of 17500, but I would give less probability to that (for now)

20 Okt 2022

Nota

Also, when index at 17500

17500 CE is trading around 22
17500 PE is trading around 33

What's happening :)

20 Okt 2022

Nota

Guys, buy above 17480, sell below 17460.

Long Targets - 17520, 17550 , 17580
Short Targets - 17434, 17420, 17396, 17380

20 Okt 2022

Nota

all 3 long targets done :)

Nifty cmp 17583