Data Trends

NIFTY – For 25th August 2021

Important references from Marketprofile to track.

16176-16182F – Support

16040F – Support

16410F – Singles area buying support from 13/8

16482F – PBL from 17/8 where shakeout happened.

16615F – VWAP of 18/8

16686F – Failed auction from 18/8

16386F – Pull Back Low support from 20/8

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.

Important references from Open Interest data to track

16654-668F PE buying from 18/8

16285-320F – PE writers from 12/8

16540-545F – PE writers fort to be held by bulls.

Note : These references are from the open interest data and data across the strikes from current weekly expiry is considered for these references.

Call and Put Activity of 24th August 2021

Open of today was positive and NF reversed the opening move and was stuck rangebound for a longer time but as mentioned in yesterday’s report a follow-up from Bulls at open would mean the success of Put writers the same was held true today, Also we did hold 16524F on Nifty which led to fresh PE writers coming in the day and making an upmove later in the day.

Very strong PE writing happened today and yesterday which means that the downside for this monthly expiry on NF is very limited with strong support from 16482-16530F zone.

We have an immediate resistance at 16654-668F so tomorrow’s trading could be between 16530-16700F unless we open a gap above 16700F

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