Nifty Eod study for 29/02/2024

MR. SANTANU BEZ -

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 

  1. 22040-22070 = HVN OF 28TH FEB + (27TH FEB + 26TH FEB) LOW BROKEN ZONE + CALL WRITING CONDENSE ZONE.

  2. 22180-2200 = MULTILPLE POC ZONE.

  3. ABOVE 22090 may POSSIBLE FIRST SHORT COVER MOVE TO REAPIR IMBALANCE IN today’s PROFILE.

  • SUPPORT 

  1. 21875-21840 = STRONG SUPPORT OF (HOURLY 200 EMA + PREVIOUS WEEK LOW + WEEKLY HVN OF 12TH FEB + PUT WRRITNG CONDENSE ZONE. 

  2. 21810-21770 = ANOTHER STRONG SUPPORT OF HVN + HIGHEST PUT WRITING ZONE. 

  • TOMORROW MONTHLY EXPIRY, so volatile is in cards for rollover & following MSCI balancing event. 

  • Opening is great clue to judge market action. if downside at our support market consolidate over hourly with POC-shift to downside probably later session we can got first short cover move.


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