Nifty could trade with 8800 to 9200 range in the expiry week with bias towards down side ….
Last week every time it moved up it faced resistance at 9150 – 9200 rage .
Maximum call OI is in 9200 and 9100 , and put OI in 8800 8900 range .
On yester day OI increase seen in Call 9150 and 9250 and put is 8900 .
It could trade in the range of 9100 to 8900 and limted to 9250 and 8800 .
MACD is clearly bearish and RSI and Candle show neutral .
It is better to trade bearish if it fails to move beyond 9150 on Monday . More over the market rallied long without any meaningful corrections …..
Upside is limited to maximum 9250- 9200 level as of now . Also 8400 PUT seen around a million contract OI increase .
Dear sir
Your short term projection of NIFTY is very nice. IT seems the support at 8990/9005 is authenticated by two indicators and candle stick chart.Hence down fall below 9000 may not be smooth. My humble view is SL at 9170 and Target at 9000
Thanks for feed back .