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.
17309-17296F levels there is a good PE writing and CE buying from 13/9 and can act as weekly support. Acceptance below 17296F for one more time calls for a test of 17191F for anomaly repair.
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 with a close at VPOC.
Call writers at lows couldn’t get success and are carrying their positions without being in control and earlier PE writers in 17400PE have showed their intent to defend their positions and 17500PE writers gave support for it.
Open above 17385F can see a drive to 17440F.
Data and structure conflict resolved with support on retest as intention was shown by bulls on retest.