Nifty gives reversal hope on hourly chart
Nifty trades comfortably above 24600, improving probability of pullback rally to 23000
As of 11:16 IST, 6 Oct
Nifty trades above 23600 on the expected lines, sustained move may lead to a bounce to 23750-23800 in intraday.
On the hourly chart a Trend line breakout is visible for Nifty at 22600 level, inviting bulls back in the game for technical target of 22960-23100.
Aggressive Short buildup seen in 22650-22500 Put with highest OI followed by 22600 Put, While Long build up in Calls seen upto 22800 Calls, suggesting a bullish undertone
Momentum plot for NSE200 shows positive bias supporting our market analysis for a corrective bounce to 23000-23100 levels with a improving breadth.
Tradzo Research
Disclaimer: www.tradzo.in/disclaimer
Tips disappears, Tradzo stands with you.
