Crude Technical trend analysis

As per daily chart of crude oil it seems that 103-106 zones are still very stiff resistance zones in crude. Nice rally seen above 91 as I have written in my previous post of crude now stochastic indicator with overbought reading suggesting that reversal is near and a correction in this bullish wave till 95-94 area can’t be ruled out in short term. Penetration above 106 in near term is less likely failure near resistance would signal short term bearish activity for targeting around 95 in near term trader can avail the opportunity with selling around 102-103 zones with a stop loss above 107 on daily closing basis for our expected support area around 95-90. On 4 hour time frame stochastic with bearish divergence suggesting that top is near and selling may take place any time 98 can act as minor support below this fall till said support will be in streets.

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LIC Housing Finance; time for bulls?

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Will Exhaustion Gap Halt the Down Trend in Nifty?

In this video we have explained what NIFTY is likely to do in next few sessions.

Nifty Options Weekly Expiry; MAX PAIN stands at 13400

#NIFTY #INDEX currently trading at 13438, down by 90 from previous close. Today index has opened gap down and taken out the low placed yesterday at 13449 triggering primary weakness in market for the day. Immediate support is now placed at 13390, retest to this level can’t be ruled out but stability below 13390 will result in to further weakness and then attempt towards 13350-13310 zones can’t be ruled out. Key support will be at 13300 and further stability below that level will bring more weakness. Resistance is now placed at day high which stands at 13488, any sustained move (Less likely) above that level will bring some relief to bulls and then attempt towards 13540-13590 can be seen. On #option_chain heavy #call_writing is being done at 13500-13600 strikes where as short covering is visible in 13450 and 13500 puts whereas longs build up seen in 13400 puts with high volume. Based on current #OI position level of #option_pain stands at 13400 thus based on current data at 10:52AM...

LET THE MARKET TELL WHO WE ARE

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