Nifty strategy for 17 November

2022년 11월 16일

For Educational purpose only,

Today the market has made a high of 18436 and a low of 18357. In daily TF, market has formed a spinning top pattern (on top of uptrend) and a M pattern in 15 min TF, this can be a sign of reversal.

Market opening near 18390;

1. If dow futures are -ve & falling and there is higher call writing in the zones of 18400 & 18350 then the levels of 18357 & 18318 can be tested.

2. If dow futures are +ve & rising and there is higher put writng in the zones of 18400 & 18450 then the levels of 18436 & 18476 can be tested.

Breakout of 18436 level;
If dow futures are +ve & rising and there is higher put writng in the zones of 18450 & 18500 then the levels of 18476 & 18516 can be tested.

Breakdown of 18357 level;
If dow futures are -ve & falling and there is higher call writing in the zones of 18350 & 18300 then the levels of 18318 & 18278 can be tested.