Nifty Futures turned to Positional Buy mode right from Muhurat trading session onward and currently the support zone comes around 7894 and Bank Nifty maintains the positional buy mode right from 9th October onward and currently the support zone comes around 16291 respectively. Reverse your position to positional sell mode if the support zone breaks on hourly charts.
India VIX Hourly Charts
India VIX turned to positional sell mode as the vix cools down and settling around 13 levels and the resistance zone comes around 15.35. One can expect volatility in the market if the resistance zone taken out on hourly charts.
Nifty Options Open Interest
This month nifty options open interest builtup is quite tricky. Initially 7800PE is written and once fell down below 7800 shortcovering takes place in 7800PE and option writers started concerntrated on writing 8000CE. But once market recovered from the lows and broken 8000 on the upside now Call writers are focusing on 8100CE. Overall the current sentiment says 8100 is the resistance for the current month expiry as only three more trading sessions left for expiry.
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