Important references from Marketprofile to track.
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
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
17085F – PE sellers from 31/8
17011F – PE selling from 31/8
17143F – PE addition here in the closing hour.
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 1st September 2021
Open of today was above previous day’s range and we did see a drive higher which stopped at 17226F which was the B period high and usually moves that stop in B period prove to be swing high/low from previous instances. Leaving that apart for the rest of the day nifty traded lower in a slow grinding fashion and tested the previous PE writers support 17085F which was held for the day and ended as a balance.
By structure wise rangebound movement between 17035F-17208F is likely.
PE addition came in at 2:30PM for the day and any momentum will be there to the downside if open is below 17088F otherwise can be a grinding day.