Cardamom MCX getting ready to resume up trend

As we can see here CARDAMOM MCX next (AUG) contract moving in a rectangle after a rally from 606 to 1397 and respecting an ascending trend on daily chart. 14 Period RSI taking support at 50 and moving upside, MACD has already given bullish cross and trying to climb zero line supporting our bullish expectations for short term. Bearish crossover seen on moving average but stability above 1275 zones may neglect these bearish developments.

Supports: 1200/1165/1100

Resistance: 1400/1500/1700

Recommendation: buying between 1240-1200 for targeting 1400-1500-1700 with stop loss of 1160 on daily closing basis might be appropriate.

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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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