Nifty future daily chart technical analysis
Nifty future of December expiry last closed at 10500 with huge loss. As expected nifty given breakdown below 10700 and almost near 10450 level which is first swing bearish target on downside. Below 10450 next major support as well as next bearish target zone will be around 10000 and around those levels expect panic in markets. Below 10000, next major and long term level to watch is 9750 level. Expect reversal and uptrend above 10700 only. In this week expect big volatile moves on continues news flow. On chart today move is very important and if continues then expect deeper and deeper levels for nifty futures.
Nifty 10700 put options opened with huge gap up and rallied from 162 rupee close to 295 rupees highs means almost 133 rupees or 82% plus gains for the option buyers. Now watch nifty 10500 put options for big moves if trend persists.
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