Nifty 50 IndexShort
Nifty: Higher Chances to Break 17800-17900 Zone.
Updated
Higher Side Supply Zone @ 17935-18320
Downside Demand Zone @ 17400-17450
There is a zone @ 17800-17900 also but currently Nifty is trading between the zone so, I neither consider as a Demand Zone nor Supply Zone.
As a Supply Demand system follower currently I dont have any view and between 17800-17900. So currently I am holding natural option selling position.
Other side option data buildup is very interesting. There is a heavy long unwinding in 17600 PE in monthly exp, heavy long build up in 17300 PE monthly exp and heavy short buildup in 17900 CE in monthly exp, highest short side build up in 18000 CE in current exp.
According to option data and Supply Demand Nifty need to trending with strong price action and close above 18000. According to me this possibility is very less.
Higher possibility is Nifty will spend time between 17800-17935-18000 for some more time or brake 17800 zone.
Lets's see in coming days.
Downside Demand Zone @ 17400-17450
There is a zone @ 17800-17900 also but currently Nifty is trading between the zone so, I neither consider as a Demand Zone nor Supply Zone.
As a Supply Demand system follower currently I dont have any view and between 17800-17900. So currently I am holding natural option selling position.
Other side option data buildup is very interesting. There is a heavy long unwinding in 17600 PE in monthly exp, heavy long build up in 17300 PE monthly exp and heavy short buildup in 17900 CE in monthly exp, highest short side build up in 18000 CE in current exp.
According to option data and Supply Demand Nifty need to trending with strong price action and close above 18000. According to me this possibility is very less.
Higher possibility is Nifty will spend time between 17800-17935-18000 for some more time or brake 17800 zone.
Lets's see in coming days.
Note
There is a Supply Zone on Monthly Chart @ 17800-17935...Currently It is taking resistance @ weekly and monthly supply zone ... Break below 17800 will give the conformation...Trade active
Exited From Natural Position ... Made a short Position....Put writer is trapped ...
Price is also travelling below 17800...
Note
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