16842F – Single print buying area from 30/8
16926F – Single print buying area from 31/8
17033F – vwap of trend day from 31/8
17154F – PBH from 2/9
17220F – PBL from 3/9
17436F – PBH from 8/9
Note: When market tests these levels and show the expected behaviour i.e. holding a support or not crossing a resistance that combined with a datapoint becomes a valid trigger for a trade.
17309-17324F levels there is a good PE writing and can act as weekly support.
Note : These references are from the open interest data and data across the strikes from current weekly expiry is considered for these references.
Day started on a dull note and the entire day has seen a narrow range timepass day.
Put writers have again shown intent to hold previous support of 17309-324F and will be key to watch in the short term.
Staying above 17309F is key for bulls and they can target 17460F.
Data and structure are conflicting with each other as follows.
*Data says support of 17309-17324
*Structure says staying below 17365F will eventually lead to test of 17191F