Trade Setup for Friday Market
Trade setup market closed in red with bearish continuation but nothing much to afraid for bulls till the time Nifty Index closing above 10600.
The Nifty closed at 10,679.70 on Thursday and support level placed at 10650 followed by 10610 and if the index start moving upwards resistance level to watch 10720 and 10760 !
Index made high of 10720 and low of 10647 to get closed at 10769, 38 point lower from previous day closing.
Though Market has closed below 10700 which physiological mark for the nifty but bouncing back from the resistance also showing strength in the market, I am using dip to buy the stock carrying the strength with target of 10900, however in between can see multiple hurdle near 10780-90.
Max call writing seen at 110000 followed by 10900 and 10800 and unwinding seen at 10500 followed by 10600
Max put writing seen at 10500 and followed up by 10400, put writing also seen add on at 103000 and 102000 where as unwinding seen at 10700 and 10500!
Fii are continuously net seller on Thursday along with DIIs.
Happy Trading !
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