OI Analysis indicating an up move in the near future for #NIFTY
Nifty took support at the 9685 level which was a critical support and also crossed an important hurdle of 9847.
Yesterday, we saw a rise in writing at 9800.9900 and 10000 PUTS indicating a formation of a strong support at these levels and the PUT-CALL Ratio is also rising, currently at 0.99, another good sign indicating an up move.
Currently its the FIIs vs the DIIs tussle going on. While the FIIs continuing their selling spree, the DIIs also not laying down their arms they are into serious buying as well.
Also expect some ebb n flow in the market due to some events affecting the market.
Currently it seems like a buy on dips market but the level of 9847 is of the utmost importance for the strength of this up move.
So keep an eye.
KEY LEVEL - 9847
Yesterday, we saw a rise in writing at 9800.9900 and 10000 PUTS indicating a formation of a strong support at these levels and the PUT-CALL Ratio is also rising, currently at 0.99, another good sign indicating an up move.
Currently its the FIIs vs the DIIs tussle going on. While the FIIs continuing their selling spree, the DIIs also not laying down their arms they are into serious buying as well.
Also expect some ebb n flow in the market due to some events affecting the market.
Currently it seems like a buy on dips market but the level of 9847 is of the utmost importance for the strength of this up move.
So keep an eye.
KEY LEVEL - 9847
