Put writers are still holding the Open Interest Positions of 5000PE without unwinding their positions. But the hourly and smallar time frames of Ichimoku cloud charts turns weak this time with resistance building near 5157 in hourly charts. Possibly only a close below 5000 will bring more weakness into the system.
Rajandran R Follow
Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Nifty turns Weak : Will the put writers give up
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