priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of

Nifty Technical Analysis week starting 21st November 2011

46 sec read

Nifty highly oversold in the last week and still sustains below all major supports.

There is no thumb-rule that if the indicators are in over-sold zone then it doesn’t mean that it will give a certain bounce. When an over-sold or over-bought zone continues for a longer period then these kind of movements are inevitable. This happens not frequently and puts traders and investors in dilemma whether to take contra trade or not.

Total open interest in the market was Rs138,550 crores and Rs5,005 crore was added in open interest.

Nifty call options added 47.30 lakh shares in open-interest whereas put options added 61.87 lakh shares in open-interest.

Overall volumes in futures & options stood at 80.00 lakh contracts with a turnover of Rs195,059 crores whereas volumes in Nifty futures were marginally higher compared with previous trading volumes.

On the options front the implied volatility cooled off marginally indicating we may see some support around 4800 levels on the Nifty. But the overall bias for the market is down and it is advisable to sell on rises.

Trading Levels – 4750 << 4780 << 4860 << 4940 >> 5020 >> 5080

Nifty Hourly Chart

Nifty Weekly Chart

About the Author : Priya is the Technical Analyst and author of Analystcalls and often writes guest posts for Marketcalls.


priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of

Nifty Futures – Risk of Holding Longs Increasing

Nifty Futures since the last 8 trading sessions have been crowded by shorter-term buyers and currently, the trading context show that there is risk...
Rajandran R
16 sec read

Nifty Futures – Trading Inventory goes Short to too…

The Nifty Futures October series is witnessing a consistent influx of short-term sellers on a daily basis. Over the past four consecutive trading sessions,...
Rajandran R
48 sec read

Nifty and Bank Nifty futures September Overview – III

Nifty and Bank Nifty futures hourly charts are maintaining the buy mode. Currently the supports zone comes around 5799 and 10000 respectively. Reverse to...
Rajandran R
14 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More