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.
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Currently 5200PE option writers again raise their hands against the 5400CE. Last two days there is big fight between the 5200PE writers and 5400CE writers as there is a equal amount of open interest built up in both these option strike price. Finally there is a reduction in 5400CE open interest and a considerable amount of increase in 5200PE open interest indicating that 5200 will be once again the Support zone for the current option series.
Nifty put writers are continously writing 5200PE. And they are still confident of holding 5200 on EOD. And at this week is going to end. The once again the condition for bullishness is Nifty should maintain 5248 on EOD basis as per the weekly view on Nifty presented few days back.