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(NSE: ICICILOMBARD) – Inverse H&S Signals Bullish Breakout! 📊 Chart Setup:
⏰ Time Frame: Daily
📈 Chart Pattern: Inverse Head & Shoulders (Bullish Reversal) 🎯
Key Resistance: 1908 – Price consolidating below this level!
🔥 Trigger: Wait for a high-volume breakout & close above 1908 to confirm bullish momentum.
🎯 Trading Plan:
Entry: Long on confirmation candle closing above 1908 with surge in volume 📊.
Stop Loss (SL): Low of the breakout candle (Trail SL upwards as price advances).
Targets:
➡️ 2000 (First psychological target 🎯)
➡️ 2100-2150 (Next resistance zones 🚩)
⚠️ Risk Management:
Critical Support: 1830 – Strategy fails if price reverses from resistance and closes below 1830 ❌.
Trailing SL: Lock profits by moving SL to recent swing lows as price climbs 📉➡️📈.
🔍 Key Levels:
Breakout Level: 1908 (Make-or-break for bulls)
Pattern Neckline: Aligns with 1908 resistance (Confirms strength on breakout)
📉 Failure Scenario:
Exit trades if price rejects 1908 and closes below 1830 (indicates bearish reversal).
#ICICILOMBARD #NSE #InverseHnS #BreakoutTrade #StockMarket
Trade wisely – Risk management is KEY! 💼🔥
Gold recovers after deep fallWorld gold prices recovered to 3,238 USD/ounce on the morning of May 2 after hitting a bottom of 3,205 USD/ounce last night. The reason came from the sell-off when the Chinese market was on a long holiday, causing a lack of physical buying power.
However, investors quickly took advantage of this opportunity to buy, amid expectations that the FED would lower interest rates and central banks would continue to collect gold as a safe haven asset. The 4-hour chart shows that the price has bounced back from EMA89, heading towards the EMA34 resistance zone - a positive sign for a short-term recovery.
The strong dollar puts pressure on gold prices
The strong performance of the US economy
The annualized GDP growth rate in the third quarter reached 4.9%, far exceeding market expectations, showing the resilience of the economy in a high-interest rate environment. The data strengthened the safe-haven appeal of the US dollar, pushing the US dollar index above the 100 mark, and exerting significant pressure on gold.
The United States may reduce tariffs on Chinese goods, and the Russian-Ukrainian conflict talks have made progress, and the market's risk aversion has cooled.
Funds flowed from safe-haven assets such as gold to risky assets, further weakening the demand for gold.
The lowest intraday gold price fell to the 3200 integer mark yesterday, and the short-selling force dominated. The daily line closed with a long lower shadow, indicating that there is short-term support near 3200, but the rebound strength is limited and failed to break through the key resistance.
Key price
Upper resistance: 3265-3270 area (previous bottom conversion resistance, hourly chart downward trend line pressure).
Lower support: 3220-3200 (psychological barrier and short-term buying support).
Market sentiment
The bearish trend is significant, but there is technical buying near 3200.
Before the release of non-agricultural data, the market is cautious and is expected to maintain a wide range of fluctuations.
Data impact expectations
If the non-agricultural data continues to perform strongly, it may further push up the US dollar and suppress gold from breaking the 3200 support.
If the data is lower than expected, gold may usher in a short-term rebound, but it needs to break through 3270 to ease the downward pressure.
Operation suggestions
Long strategy: pullback to 3230-3236 light position long, stop loss below 3220, target 3260-3270.
Short strategy: rebound to 3265-3270 area short, stop loss above 3282, target 3230-3250.
Non-agricultural data may cause violent market fluctuations. It is recommended to strictly control positions and avoid excessive leverage.
If the gold price effectively falls below 3200, the space below may open further, and we need to be alert to the risk of trend decline.
In the short term, gold is suppressed by the strong dollar and weakening risk aversion demand. The technical side is bearish, but there is a possibility of repetition near the 3200 support level. Before the non-agricultural data, it is recommended to mainly operate in the range, focusing on the breakthrough direction after the data.
Nifty 50 Index spot 24346.70 by Daily Chart view - Weekly UpdateNifty 50 Index spot 24346.70 by the Daily Chart view
- Support Zone 23875 to 23975 Nifty 50 Index Band
- Resistance Zone 24675 to 24780 Nifty 50 Index Band
- Volumes are well in sync with the average traded quantity
- Nifty Index has sustained well above the immediate Support Zone at 23785 to 23975 and contained below Resistance Zone 24675 to 24780 over past 2 weeks
- Nifty Index is behaving erratically by jumping from positive to negative and vice versa between the days highs and lows over keeping an eye on the ongoing cross border uncertainty state and seems it is keeping submissive to fear factor
- Let us hope for the best to happen for a positive outcome over the coming days/weeks and foresee Nifty 50 Index to gradually and steadily progress towards the current ATH 26277.35 for a New ATH, in line with the Bank Nifty Index strides
CRUDE Hello & welcome to this analysis
WTI OIL is at the PRZ of a bullish Harmonic Cypher pattern suggesting a bounce/reversal from current levels.
Crude (MCX) however does not have any bullish harmonic patterns at the moment, normally, we do see them in sync, however, this time maybe due to a strong INR the pattern is not seen.
One can take a trade tracking USOIL / WTI either above $57.85 (60m close) with swing low as stop loss or take a bullish trade here with $55.95 as stop loss.
The targets are 38-50-62 Fibonacci levels as marked in the chart
All the best
OPEC at a turning point: what’s next for oil? All eyes are on OPEC ahead of its May 5 meeting as it faces pressure from falling prices, weak demand, and internal rifts.
While some expect a pause in output hikes, the consensus points to continued increases. The group’s decision will be key in shaping oil market dynamics amid trade tensions and fragile global growth.
APRIL PRICE ACTION: TARIFFS, TRUMP, AND TURBULENCE
April witnessed WTI crude oil futures plummeting by 18.6%, marking its sharpest monthly decline since November 2021, as U.S. tariffs and OPEC+ supply hikes dragged prices.
President Trump’s April 2 announcement of 10% baseline tariffs on all imports, with elevated duties targeting China and others, triggered fears of a global trade slowdown. Additionally, China’s retaliatory tariffs on U.S. goods only intensified demand concerns.
OPEC+ exacerbated the selloff by boosting output by 138,000 bpd in April, its first production hike since 2022. The group had initially planned for gradual monthly increases of 135,000 bpd, but the higher-than-expected increase caught the market off guard, intensifying downward pressure on prices.
The cartel followed up with an announcement that it would hike output in May by 411,000 bpd. The accelerated pace of production increases is widely seen as politically motivated, reflecting pressure to align with U.S. interests amid growing geopolitical and economic tensions.
OUTPUT HIKES LOOM AMID POLITICAL TENSIONS AND INTERNAL RIFTS
OPEC+ faces growing pressure to raise output, despite weak demand. Political factors, internal pressure from key members, and a desire to protect market share are driving this shift.
Disagreements within the group are mounting. Kazakhstan, for example, says it can’t cut production and will prioritize domestic needs, continuing to exceed its target. In March, the UAE, Iraq, and Nigeria also pumped above quotas and are pushing for higher limits to support their budgets.
Source: OPEC and IEA
Saudi Arabia appears less willing to support prices with further cuts. Reuters reports the kingdom is prepared to tolerate lower prices to defend market share.
Rising domestic oil use from May to September, due to higher electricity demand, also supports more output.
OPEC+ is also under political pressure to boost output, with analysts suggesting Saudi Arabia and others may fast-track supply hikes at the May 5 meeting to ensure oil doesn’t become a flashpoint ahead of Trump’s upcoming visit to the Gulf.
OIL MARKET STRUGGLES WITH TWIN HEADWINDS: WEAK DEMAND AND RISING OPEC+ SUPPLY
OPEC has cut its 2025 oil demand growth forecast by 10.3% to 1.3 million bpd and trimmed its 2026 outlook by 10.5% to 1.28 million bpd, citing the impact of U.S. tariffs.
Source: OPEC , EIA , and IEA
The EIA and IEA echoed this downgrade, reinforcing expectations of prolonged price pressure amid trade tensions and rising supply.
Source: U.S. Bureau of Economic Analysis
Economic data from major consumers deepens the bearish tone. The U.S. economy contracted 0.3% in Q1 2025, its first decline since 2022, as firms rushed imports ahead of tariffs, disrupting trade flows. China’s April manufacturing PMI dropped to 49, marking its lowest since 2023 despite stimulus measures.
The trade tensions between the U.S. and China disrupt supply chains and increase costs, while slower economic growth in key regions curtails fuel consumption.
With global growth cooling and OPEC+ accelerating output, the oil market now faces a dual challenge: softening demand and swelling supply. The result is a volatile outlook skewed toward persistent oversupply.
HYPOTHETICAL TRADE SETUP
With OPEC+ likely to uphold or accelerate output hikes at the May 5 meeting due to the reasons stated above, WTI remains vulnerable.
Notably, WTI’s implied volatility remains near its YTD highs, and the skew stays deep in negative territory at 5.6, signalling stronger demand for downside protection over upside exposure.
Source: CME CVOL
The 21-day MA remains above the 9-day MA, indicating sustained bearish pressure, while the MACD continues to trend lower despite the May 1 price rebound.
RSI hovers in neutral territory but below the midpoint, signalling weakening bullish conviction.
All these indicators point to fading bullish momentum and sustained downside pressure.
Overall, bearish technicals, persistent oversupply risk, and soft economic data from the U.S., China, and Europe support a short-term bearish view.
Source: CME QuikStrike
With OPEC’s meeting set for 05 May, investors may explore the 05/May ML1K5 Monday weekly options.
This paper posits a Bearish Put Spread using weekly WTI options expiring on 05/May, offering defined risk and reward in a directional play with a 1.1 x reward-to-risk ratio.
The long put at USD 61/barrel, and the short put at USD 57/barrel; this sets a breakeven at USD 59.09/barrel. The trade costs a net premium of USD 1.91/barrel (USD 1,910/contract)
The position yields a maximum profit of USD 2.09/barrel (USD 2,090/contract) if WTI settles below USD 57/barrel, and a maximum loss of USD 1.91/barrel (USD 1,910/contract) if it closes above USD 61/barrel.
The chart above was created using CME Group’s QuikStrike Strategy Simulator , which allows for precise modeling and clear visualization of trading strategies under different market conditions.
MARKET DATA
CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme.
DISCLAIMER
This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services.
Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
TataMotors - 45% Discount from PeakTata motors , a premier automobile company has fallen for 50% from peak and now available at 45% discount. study the stock for following reasons.
No 1 Indian Auto companies in terms of Market Share
Price to Earning < 10
Dividend yield .47%
Operating Profit Margin > 10%
34% Share Holding by institution
Disclaimer: please study and take any investment decision after consulting your financial advisor
Bank Nifty spot 55115.35 by the Daily Chart view - Weekly UpdateBank Nifty spot 55115.35 by the Daily Chart view - Weekly Update
- Support Zone 53825 to 54200 Index Band
- Next Support Zone 52790 to 53300 Index Band
- Resistance seen only at Bank Nifty Lifetime High Level 56098.70
- Bank Nifty is sustaining above the immediate Support Zone at 53825 to 54200 over past 2 weeks.
- This is an indication of the Index keeping calm and contained to the ongoing uncertainty of cross border situation
- Let us hope for the best to happen for a positive outcome over the coming days/weeks and foresee New ATH creation
Private or Public the fate will be the sameSBI CMP 800
Elliott- the rally is corrective and is over in my view.
*Fibs- The waves are related to each other by Fibs.. Here the c wave has halted at 1 of a.
Trendline- the rally also halted at the trendline.
Oscillators- At price resistance we have a negative divergence in the composite where as the RSI has failed here.
Conclusion - Since the formation is on a 3day chart the mkt may take some time to turn. But its very evident that the rally is over. The tgts are on ur screen the first tgt is back to the start at rally at 680.
BSE-short for 20 % BSE has exceptional durability but valuation is not justified
BSE has P/E arond 90 while NSE has P/E around 34
technical reasons to short on weekly charts
1. inverted pinbar violating 3 week EMA at resistance line
2.12-26 week MACD showing negative divergence ,while 3-6 week MACD has extreme techincal divergence
target and Sl marked
GBP/USD Eyes NFP & BoE Amid Trade Tensions Relief🔔 GBP/USD Eyes NFP & BoE Amid Trade Tensions Relief
Sterling (GBP) has rebounded against the US dollar (USD), riding a wave of improved market sentiment after signs of de-escalation in the US–China trade conflict. As investors reposition ahead of today’s US Nonfarm Payrolls (NFP) and next week’s Bank of England (BoE) rate decision, GBP/USD finds itself at a pivotal moment.
🌐 Macro Picture: A Tale of Two Central Banks
The Fed is widely expected to hold rates steady at 4.25%–4.50% during next week’s meeting.
The BoE, meanwhile, is almost certain to cut rates by 25 basis points, pricing in weak UK inflation data and global trade uncertainties.
Meanwhile, sentiment got a boost after China's Ministry of Commerce signalled openness to trade talks with the US, provided “sincerity” is shown — easing fears of a prolonged trade war.
This shift in tone lifted risk appetite and helped push GBP/USD back near the 1.3320 zone, recovering from earlier losses this week.
🧭 Focus Turns to Today’s NFP
Markets expect:
+130K jobs added in April (vs. 228K prior)
Unemployment rate holding at 4.2%
Wage growth YoY to increase slightly to 3.9%
Any significant surprise may reshape rate expectations for the Fed, especially after recent ISM data showed rising input costs — suggesting inflation remains sticky.
📊 Technical Outlook – GBP/USD
After bouncing from the 1.3245–1.3265 zone, GBP/USD is approaching a heavy resistance range around 1.3335–1.3375. A break above this could invalidate the bearish setup, while failure may trigger a strong downside rotation toward 1.3185 – 1.3145.
🔺 Key Resistance:
1.33350
1.33750
🔻 Key Support:
1.32650
1.32450
1.31850
1.31450
🎯 Trade Plan
🔵 SELL ZONE: 1.33350 – 1.33750
SL: 1.34000
TP: 1.33300 → 1.32850 → 1.32550 → 1.32000
🔴 BUY ZONE: 1.32650 – 1.32450
SL: 1.33250
TP: 1.32250 → 1.31850 → 1.31450 → 1.31000
⚠️ Trading Notes:
NFP volatility could create false breakouts — wait for confirmation before committing size.
Post-NFP, market focus will quickly shift to the BoE decision on May 9th.
Expect traders to react swiftly to wage growth and job creation figures.
🧠 Final Thoughts:
GBP/USD is trading at a sensitive macro-technical intersection. While optimism on trade and NFP relief could boost the pair, BoE’s likely rate cut still clouds the medium-term path.
Stay patient. Let price react to the data before jumping in.
💬 What’s your positioning into NFP? Let's discuss below 👇👇
Inverse Head and Shoulders Pattern - IOCIndian Oil Corporation
Indian Oil Corporation Ltd is a Maharatna Company controlled by GOI that has business interests straddling the entire hydrocarbon value chain - from Refining, Pipeline transportation and marketing of Petroleum products to R&D, Exploration & production, marketing of natural gas and petrochemicals. It has the leadership position in the Oil refining & petroleum marketing sector of India.
Current Price ₹ 143
Stock P/E 16.7
Industry PE 20.2
Stock now trade November 2024 onwards stock pattern formed. May month pattern completed shortly. Once pattern completed Next Final Target 180+
IOC pattern Inverse head and shoulder pattern complete may month end, shortly breakout will happen. Now stock trade 143 shortly will come down right shoulder 130 below and next upside move 145 . Once close 145 above start uptrend.
Final Target 180+
Nifty 50 at a Turning Point? Key Levels & Market Outlook AheadThe Nifty 50 opened with a gap-up of 30.95 points (0.13%) and ended the week at 24,346.70 with a gain of (1.28%)
If Nifty sustains below 24,369, selling pressure may increase. However, a move above 24,426, could restore bullish momentum.
Key Levels for the Upcoming Week
🔹 Price Action Pivot Zone:
The crucial range to watch for potential trend reversals or continuation is 24,369 -24,426.
🔹 Support & Resistance Levels:
Support:
S1: 24,037
S2: 23,427
S3: 23,144
Resistance:
R1: 24,661
R2: 24,975
R3: 25,334
Market Outlook
✅ Bullish Scenario: A sustained breakout above 24,426 could attract buying momentum, driving Nifty towards R1 (24,661) and beyond.
❌ Bearish Scenario: A drop below 24,369 may trigger selling pressure, pushing Nifty towards S1 (24.037) or lower.
Persistent (NSE: PERSISTENT) Poised for Breakout!📊 Chart Setup:
Consolidation Phase: Price is hovering near a crucial resistance zone at 5445, confluencing with a trendline parallel channel (Daily timeframe).
Key Resistance: A decisive high-volume breakout above 5445 could trigger a strong bullish momentum.
🎯 Strategy:
Entry: Long on close above 5445 with above-average volume confirmation 📈.
Stop Loss (SL): Initial SL below recent consolidation low (trail as price progresses).
Targets:
➡️ 5700 (First swing high)
➡️ 5969 (Next resistance)
➡️ 6303 (Mid-term swing)
➡️ 6501 (Major previous high) 🏁
⚠️ Risk Management:
Trail SL to lock profits as price hits each target.
Avoid chasing the breakout; wait for volume-backed confirmation.
📅 Timeframe: Daily (DTF) | Trend: Bullish above 5445
🔍 Key Levels:
Support: 5300-5350 (Channel base)
Resistance: 5445 (Make-or-break level)
#PERSISTENT #NSE #BreakoutAlert #StockMarket
Trade responsibly. Use proper risk management! 💼🔥
Bank Nifty Weekly Insights: Key Levels & TrendsBank Nifty ended the week at 55,115.35, registering a gain of 0.83%.
Key Levels for the Upcoming Week
🔹Price Action Pivot Zone:
The critical range to monitor for potential trend reversals or continuation is 55,018 to 55,253
🔹 Support & Resistance Levels:
Support Levels:
S1: 54,667
S2: 54,200
S3: 53,723
Resistance Levels:
R1: 55,607
R2: 56,078
R3: 56,553
Market Outlook
✅ Bullish Scenario: A sustained move above 55,253 could trigger buying momentum, potentially driving Bank Nifty towards R1 (55,607) and beyond.
❌ Bearish Scenario: If the index falls below 55,018, selling pressure may increase, pulling it towards S1 (54,667) and lower levels.
GODREJPROP - Rectangle -BO -DailyGodrej Properties Ltd (GODREJPROP) has recently released its Q4 FY25 results, revealing a mixed performance.
📊 Financial Highlights (Q4 FY25)
Net Profit: Declined by 19% year-on-year to ₹382 crore, compared to ₹471 crore in Q4 FY24.
Revenue: Increased by 49% year-on-year to ₹2,122 crore.
EBITDA: Slightly decreased by 2% to ₹634 crore.
Expenses: Overall expenses rose by 54%, primarily due to increased material consumption costs.
Bookings: Achieved record-high quarterly bookings of ₹10,163 crore, marking a 7% year-on-year increase.
FY26 Guidance: The company anticipates new bookings of ₹32,500 crore for FY26, slightly lower than FY25 projections.
Market Cap: Approximately ₹65,011 crore.
P/E Ratio (TTM): 43.66.
P/B Ratio: 3.86.
Debt-to-Equity Ratio: 1.25.
The chart **Godrej Properties Ltd (GODREJPROP)** shows a **bullish breakout** from a **rectangle base consolidation pattern**, suggesting a potential uptrend continuation. Here's the technical breakdown:
---
### 🧠 **Chart Pattern Analysis**
- **Pattern:** Rectangle base (accumulation zone) between ~₹1,900 and ~₹2,212
- **Breakout Level:** ₹2,212.50 (horizontal resistance)
- **Breakout Candle:** Strong bullish candle with volume spike (confirmation)
- **Target Projection:**
- Rectangle height: ₹2,212.50 - ₹1,900 ≈ ₹312.50
- Target: ₹2,212.50 + ₹312.50 = **₹2,525** (matches chart projection)
---
### 📌 **Key Levels**
- **Immediate Resistance:** ₹2,249.30 (current price), next at ₹2,525.55
- **Immediate Support:** ₹2,212.50 (breakout level), then ₹1,901.50
- **52-Week High:** ₹3,387.10 (far resistance)
---
### 📊 **Volume Confirmation**
- Noticeable volume spike on the breakout candle.
- Volume > 20-period moving average volume — supports breakout strength.
---
### 🧭 **Outlook**
- **Bullish bias** in the short to medium term.
- A sustained close above ₹2,212.50 with increasing volume favors the target move toward ₹2,525+.
- If price re-tests the breakout zone and holds (₹2,212 area), it would be a healthy sign of support.
---
TORNTPHARM Final Bearish move before bulls entry????Yesssss!!!! Chart patterns suggest me the above titled opinion...
TORNTPHARM has been travelling in a Ascending Expanding channel pattern IN A BULLISH MODE MAKING SERIES OF HIGHER HIGHS AND HIGHER LOWS... (shown below)
Inside the bullish pattern , it is now currently in the downward phase that too inside rectangular descending channel pattern making a SERIES OF LOWER HIGHS AND LOWER LOWS....
It's moving like a written script till now....let's wait and watch whether the director(market) has any twist in the script or not!!!
This is just my opinion....not a tip nor advice!!!!
Thank you!!!!!!!
Sell Trade - EUR/GBPGreetings to everyone!
Place a sell trade on EUR/GBP and check out my chart for the ideal entry, stop-loss & target placement.
Remember :-
* Move your SL to breakeven once the trade reaches 1:1.4 R.
* Aim for a minimum reward of 1:1.5 R.
* Don't risk more than 3% of your total margin.
Let's execute this trade smartly! 🚀
💬 About Me:
I am a professional trader with over four years of experience in the markets. I focus on swing trading using the 4H timeframe, mainly in the forex space. The trades I share here are the actual positions I’m executing. I post them as a small gesture to give back to the trading community that’s been a big part of my journey.
Cheers! 🙏
Nifty Intraday Analysis for 02nd May 2025NSE:NIFTY
Index closed near 24335 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25800 Strike – 30.34 Lakh 24400 Strike – 28.17 Lakh
24500 Strike – 26.41 Lakh
Put Writing
24000 Strike – 45.29 Lakh
24300 Strike – 29.80 Lakh
23800 Strike – 24.61 Lakh
Index has resistance near 24500 – 24550 range and if index crosses and sustains above this level then may reach near 24700 – 24750 range.
Index has immediate support near 24100 – 24050 range and if this support is broken then index may tank near 23850 – 23800 range.
Banknifty Intraday Analysis for 02nd May 2025NSE:BANKNIFTY
Index closed near 55085 level and Maximum Call and Put Writing near CMP as below in April Month contract:
Call Writing
55500 Strike – 10.78 Lakh
56000 Strike – 8.08 Lakh 55000 Strike – 8.04 Lakh
Put Writing
54000 Strike – 11.15 Lakh
55000 Strike – 9.27 Lakh
55500 Strike – 8.67 Lakh
Index has resistance near 55500 – 55600 range and if index crosses and sustains above this level then may reach near 56000 – 56100 range.
Index has immediate support near 54500 - 54400 range and if this support is broken then index may tank near 54000 - 53900 range.
Finnifty Intraday Analysis for 02nd May 2025NSE:CNXFINANCE
Index closed near 26115 level and Maximum Call and Put Writing near CMP as below in April Month contract:
Call Writing
26000 Strike – 0.66 Lakh
26500 Strike – 0.47 Lakh
26200 Strike – 0.39 Lakh
Put Writing
26000 Strike – 1.17 Lakh
25500 Strike – 0.53 Lakh
26300 Strike – 0.32 Lakh
Index has resistance near 26300 - 26350 range and if index crosses and sustains above this level then may reach near 26500 - 26550 range.
Index has immediate support near 25825 – 25775 range and if this support is broken then index may tank near 25550 – 25500 range.
Midnifty Intraday Analysis for 02nd May 2025NSE:NIFTY_MID_SELECT
Index closed near 12075 level and Maximum Call and Put Writing near CMP as below in April Month contract:
Call Writing
12000 Strike – 2.10 Lakh
12200 Strike – 2.08 Lakh
12500 Strike – 2.08 Lakh
Put Writing
12000 Strike – 4.73 Lakh
12200 Strike – 2.05 Lakh
12300 Strike – 1.31 Lakh
Index has immediate resistance near 12250 – 12300 range and if index crosses and sustains above this level then may reach 12400 – 12450 range.
Index has immediate support near 11875 – 11825 range and if this support is broken then index may tank near 11600 – 11550 range.