– Expert seen April as same as March
– Slight change as new FY
Vyapar Hindustan Correspondent
Mumbai
Monthly -the doji is working this ago proves pattern works for sure . Though we open red the monthly candle is green with bearish pressure wick on the candle . The same is still in the channel which formed. On monthly scale the levels are 23915/25313/24625 upside and downside if 22900 is broken then level of 222235 can be seen then we will see what to do and what will be levels but as off now don’t see that coming but if tomorrow international cues are negative then it’s possible. Also if there is any issue pertaining WAQUF board bill will be tables in parliament tomorrow that will also have some impact on market.
Weekly– the chart look pretty strong though as this is beginning of the week hence the size is small that’s immaterial as off now. The weekly time frame the levels are 23650/24200/24625 upside and downside are 23470/23050/22900/22700.
As RSI downwards below 50 and MACD mouth is closed hence we can except some downside in coming days .
Daily – the candle is red with bullish pressure wick and the code at the support level of 23300 . If upside 23350 is decisively broken then levels only 23400/23700/24000 looks ideal and downside if z23275 is broken decisively then 23100/23000/22950 can be seen.
Trading time frame – after the great downfall from opening there was no setup in nifty for the trade and hence scripts are not shared. After the great fall it was more or less sideways . At one point there was equally scripts decline and advances in Nifty. As been stated there was little recovery seen as it has started new wave and 1 was completed after the opening . The wave is complete but correction still pending so we will have to wait for tomorrow ‘s opening but 23167 downside and 23202 upside are important levels to watch . On this time frame the upside levels are 23190/23200/23215/23225 upside and downside if 23157 is broken decisively then 23070/22970 can be seen.
Capital Market expert Shreesh Shingare quoted below:
OI levels
23500 1.10:1 CP ratio (1.99CR call & 1.08CR put)
23400 – 1:2 almost CP ration (1.05Cr call & 40L Put)
23300 – 1:1.20CP ratio (96L Call & 61L Put)
23000 – 1:4 CP ratio (30L call & 1.27 ace put )
Upside
23350 – 5:1 CP ratio (55L Call & 11L put
23600 4:1 CP ratio (1.37Cr call & 32L put)
23600 – 4:1 CP ration (1.37Cr Call & 31L put)
23700 – 3:1 CP ratio
24000- 5:1 Call put ratio
How to trade
“As a principal mater we won’t take the trade at the start as movement can’t be taken we will wait for our levels and then take trade depending on the movement. I will share the scripts on Nifty and stock for the same. Market should be more or less sideways as OI is showing the same.”
Shreesh Shingare, Expert & Market analyst
