Nifty September futures is in positional buy mode last thursday and currently the support zone comes near 5290. Bank nifty futures turned to positional buy mode last friday and currently the support zone comes near 8695 respectively. Reverse your position to sell mode if the support zone breaks on the hourly basis.
Bank nifty has gave breakout of falling wedge on hourly chart .11420-30 is an resistance zone as per line chart which is comfortably above 200dma. above which it can face resistance at falling red channel line. Close above 11420 will generate a buy signal in bank nifty, first sign of weakness on close below 5DSMA.
In a post earlier I have mentioned about a probable head and shoulder pattern developing in bank nifty. A similar pattern is forming in NIFTY chart.
Nifty and Bank Nifty 90 min charts turned to positional buy mode since 26 Dec 2012, Currently the support zone is coming near 5880 and 12398 respectively. Be in the long side until the support holds. Reverse your positional shorts if the support zone breaks.
Nifty and Bank Nifty 90 min charts turned to sell mode on 21st Dec and currently the resistance zone are coming near to 5891 and 12441 respectively. One can enter into the Positional Buy if the resistance zone get broke on the upper side.
Nifty and Bank Nifty are in positional buy mode since Nov 23rd. Currently the Nifty and Bank Nifty cloud support zone are at 5885 and 12159 respectively. On the Nifty Options side still 6000CE has the strong open interest as of now 6000 zone is considered as temporary resistance zone. Breaking the 6000 barrier could be even more bullish for this rally.
Nifty is in positional Buy mode since 22-Nov and Bank Nifty since 21st Nov on the 90 min charts. Currently the supports for nifty coming around 5595 and the intermediate resistance zone coming around 5670. And for the Bank Nifty the support zone coming around 11372 and immediate support coming around 11456.
Nifty and Bank Nifty 90 min charts are in buy mode with supports coming around 5651 and 11366 respectively. And the Nifty options open interest is looking very tricky. Higest and almost equal amount of open interest built up is seen in 5600PE, 5900CE , 6000CE indicating that temporary support could be offered at the 5600zone. Breaking 5600 on EOD basis could indicate change of trend.
Nifty and Bank Nifty 90 min charts turned to sell mode on 25th Oct and currently the ichimoku cloud resistance zone are at 5702 and 11590 respectively.
Both Nifty and Bank Nifty are in sideways mode since the start of October Season. Currently both are in Buy mode with supports coming around 5680 and 11480 respectively.Go for positional shorts if the levels breaks on the 90 min charts.
Nifty and Bank Nifty on the 90 min charts are in Buy mode since 7th September currently both nifty and bank nifty are trading very close to the cloud supports
5629 and 11215 respectively.
Nifty and Bank Nifty are in Buy mode since 7th September currently the supports on the 90 min charts are around 5594 and 10971 respectively. The Higher Open Interest among the series is at 5500PE where put writers are very much concentrated for the current option series.