Resistance is at 18700 of Volume and OI volume is WTB 18700 and oi is WTT 18900. Support is at 18700 and is strong. Support is of both Volume and OI. we can say at present support is strong, resistance volume is WTB at 18700 and OI is WTT18900.
Resistance has shifted from 18800 to 18700. Making the market bearish. On looking at the option chain data at 9.57 a.m. it is appearing that the market may make a high of 18715 and a day low of 18615. the extension of support is 18655.
Since resistant has shifted from top to bottom their is good probability that the market has the potential to hit the diversion of 18650 i.e 18615. Provided the market scenario does not change.
At 11.57 AM the Resistance volume became weak toward the top at 18800 and the percentage change in volume start increasing, and the open interest at 18800 gave an indication of bullish movement in the market. the put side open interest at 18800 crossed the call side change open interest which made the market bullish and give the signal that the market has the capability to go to the diversion of 18850. The market made a high of 18839 from the day low of 18661.
Market on 21-06-2023
At 10.00 AM market looks like
Resistance is 18900 & support is 18800. Support is of both volume and open interest. However open interest is weak toward the bottom at 18700. Resistance is WTB 18850.
the EOS is 18782 and EOR is 18928.
Strick prices 18000, 18850, and 19000 are crucial. one has to see the percentage incremental growth in the volume.
Support sides 18700, 18800, and 18850 are crucial.
On the resistance side, the percentage of OI in WTT 19000 is 95.78% and the percentage of volume is WTB is 82.77%.
On the support Side volume is strong but OI is WTB 87.31%
Now the market has the potential to move diversion of 18700 to 19000. the range for the day is 200 points.
since the resistance volume is WTB at 18850. the market can go to the diversion of 18850 at the present scenario this can be the day high for today and the estimated value is 18887. this is the right price to buy put. up to 18782. if the volume of the resistance shifts from 18900 to 18850 and becomes strong at 18850 then the market may go below the diversion of the next strict price to the Support. 18650.
it is 2.15 PM and the market is in the control of 18850 strict price. The market is struggling to cross the diversion of 18850 i.e. 18860. Since resistance is weak toward the bottom from 18900 to 18850 market is not able the cross the level of 18870. and the market may reverse from there.
22-06-2022
Today is the weekly expiry market will be highly volatile today. The market opened with resistance at 18900 and support at 18800. the resistance was WTB on 18850 and the Support was WTT on 18850 strick price. this makes the market range bound and this condition is not advisable for trade. we have to give more time to the market for settling down. Volume on the Resistance side which appear crucial is 18850, 18900, 18950, and 19000. on the Support side, Volumes 18750, 18000, and 18850 are important to observe. the on which the volume will start increasing market will go in that direction.
if we look at the open interest data we find that on the resistance side, the Highest OI is 18850 which is weak toward the top of 19000. support side 96.3% on the support side open interest is strong at 18800.
Market Level for today 18882 to 18837 at the present market is in this zone only. if the situation changes it may go to its resistance and support. the extension of support is 18794 and the extension of resistance is 18932.
10.52 AM. The resistance became strong at 18900 and support is WTT on 18850 and willing to shift on it and 94.46% weak to top. we are getting the impression that the market may go to an extension of resistance i.e. 18924, and the diversion of 18950 may be seen as the probable day High i.e. 18963.
by 11.00 AM the resistance again became WTB on 18850 the market is very confusing traders should be cautious in trading and safe trade should avoid trading.
Sinario Changed after 12.35 PM and the market became bearish and touched the level of 18777 at 1.05 PM and reversed from hear and traveling to the diversion of 18850, their expected level of 18867 there is a poor probability that the price will touch the extension of the support level. because the volume is WTB on the resistance side at 18850. it will not allow the market to go to an extension of resistance until the volume does not strong on the 18900 strict price.
Market Review 23 June 2023
At 9.17 AM
Resistance was @18800 and Support was @18700. Resistance was of both Volume & Open interest and strong .whereas the support was strong and was of both volume & open interest. Open interest at support was WTB ON 18500. On the support side, the volume is WTT @18800. percentage of volume WTT was 93.68% whereas the OI was WTB 94.95%.
Extension of support was 18640 and the Extension of Resistance was 18781. At that time market was in 18711. Menas market opened near its support. At the time of opening, the market was looking bullish.
By 9.30 AM the scenario changed and new buildups on volume and open interest took place and the scenario changed. now support became strong at 18700 and resistance became weak toward the bottom at 19750 and the percentage of the weakness was 75.37%. indicates that the market which was Bullish was turning to bearish, and the upper limit of the market appeared to be 18740, it indicates that the market has the probability of being reversed from the diversion of 18750. at 9.40 Market touched an extension of support and reversed from there. at 10.30 am market make a high of 18727 and again reverse from there. At 11.05 AM market touched the level of 18681 and again reversed from there and make a high at 12.45 of 18748. by 2.20 P M make a low of 18668, and reversed from there roughly 22 points to 18700. at 3.00 PM market again drop to the level of 18651. this was the movement of the market throughout the day.
So there were numbers of trade available today in both directions. it is your experience which allows you to explore the possible trade you can do.
September 5
Market open Gapup. Support is at 19500 of Volume and Resistance is confused between the strike price 19500, 19550 and 19600. the volume is shifting on these strike price. Highest Openinterest in Support side is at 19300, which is looking Weak toward top at 19400. Highest Openinterest change is at 19550.In resistance side hifhest openinterest is at 19600 which is Weak toward bottom at 19500.
Value of Extension of Support at present is 19571. Extension of Support 19470.
in resistance side we are looking strike price 19500 ,19550 and 19600, they are having the volume to be obseved. in Support side 19400, 19500 and 19550 strike price are having significant volume. As per the present Condition possibility of market movement is expacted between these strike prices.
Since the Support side OI is weak toward 19400. the probable day low can be 19376.
in case of resistance is weak toward bottom at 19500 and highest volume is at 19550. the probability is that market will not go beyond 19525.
Since market is giving confusion in resistance side market is giving sentiment of being bullish at present is market is near to it extension of resistance.
Oi change is permitting the market to go upto 19650.the probable day high may be 19647 as per current data OI change senario.
At present the OI change data is saying that market will fall below 19550. Please keep watching the option chain data and trade accordingly.
