Nifty Hourly Chart
Nifty Daily Chart
On Daily Chart also Nifty has generated a SELL with a close below 5 EMA CLOSE@5847 and hence close above 5847 and 5887 are important for BULLS to sustain the upward momentum.
Range of Nifty is getting smaller and smaller and Breakout levels@5905 and Breakdown@5805
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
As Per Nifty Options Chart 5900 CE OI@ 10,323,350 and 5700 PE OI@7,986,300.So expiry range should be bewtween 5900 -5800 only.
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.
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