Nifty Hourly Chart
Nifty Hourly Charts are showing selling near the falling trendline and now breakout has come on a close above 5905.On Hourly chart Nifty is SELL till it does not close above 5853 levels.As Nifty is Still trading above 5833 which is close of Last Expiry it is positive for BULLS. This Expiry has neither belong to Bulls and Bears.
Nifty Daily Chart
On Daily Chart also Nifty has generated a SELL with a close below 5 EMA [email protected] and hence close above 5847 and 5887 are important for BULLS to sustain the upward momentum.
As Per expiry levels on Upper side Nifty can go till 5890 and Lower end 5768.
Levels to watchout
Buy above 5849 Tgt 5878 and 5905
Sell below 5833 Tgt 5805 and 5768
VIX has inverse corelation with Nifty.
Higher VIX means Nifty will go down and Lower VIX means Nifty will go up.
VIX if it closes below the 21 levels it can move to 20 and 19.1 which will give boost to NIfty on upside and if it moves above 22 Nifty can see a good fall.
Nifty Options Open Intrest
If 5800 Breaks than we can see a good fall in Nifty as 5700 PE has highest OI. Keep an eye on 5805 levels .
All values mentioned are SPOT values.
Interested in Learning how to Trade Nifty Profitably using Trading System [email protected]