Nifty future chart analysis
Nifty future of February expiry last closed at 10615 with loss. This was sixth losing session for nifty future. Today we saw low of 10602 and nifty future hit my given bearish target of 10600. Now below 10600 next short term support will be around 10400 levels. Nifty future trading in oversold territory so sellers must stay cautious and keep strict stop loss for each and every sell position. Below 10600 expect sharp fall and lower levels up to 10400 in short terms.
From medium to long term view, 10900 will remain as top on weekly closing basis and look like nifty sliding towards 9950 levels from here. Expect long term trend reversal above 10900 only and short term above 10800 levels only.
Today we saw nifty 10800 put options rallied from low of 127 to high of 227 rupees means 100 gains or almost 90% gains for put buyers in intraday.
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