Nifty Eod study for 29/02/2024
NIFTY CHART & OI STUDY FOR (29/02/2024) TODAY NIFTY WENT DOWN BY 1.27%. TODAY’S Profile again double distribution with strong single print or abnormality (22090-22173). 2-days VA = OVERLAPPED BEARSIH. 2-DAYS POC = OVERLAPPED BULLISH. 2-DAYS CPR = BEARISH. IN today’s profile we got two strong HVN ZONE. TODAY’S PCR =0.52, HIGHLY OVERSOLD (ANY GAP DOWN CAN BOUNCE BACK BRUTAL WAY). HIGHEST CALL OI=22K; HIGHEST PUT OI=21800. 21900 = BOTH FIGHTING. TOMORROW REBALANCING DAY OF MSCI INDEX. RESISTANCE 22040-22070 = HVN OF 28TH FEB + (27TH FEB + 26TH FEB) LOW BROKEN ZONE + CALL WRITING CONDENSE ZONE. 22180-2200 = MULTILPLE POC ZONE. ABOVE 22090 may POSSIBLE FIRST SHORT COVER MOVE TO REAPIR IMBALANCE IN today’s PROFILE. SUPPORT 21875-21840 = STRONG SUPPORT OF (HOURLY 200 EMA + PREVIOUS WEEK LOW + WEEKLY HVN OF 12TH FEB + PUT WRRITNG CONDENSE ZONE. 21810-21770 = ANOTHER STRONG SUPPORT OF HVN + HIGHEST PUT WRITING ZONE. TOMORROW MONTHLY EXPIRY, so vola...