MIDCPNIFTY TECHNICAL LEVEL & DERIVATIVE ANALYSIS

MIDCPNIFTY BULLISH BREAKOUT ZONE 13800 MIDCPNIFTY BEARISH BREAKOUT ZONE 13600 OPEN INTEREST UPDATES IN OPTION CHAIN : HIGHER OPEN INTEREST SEEN @ 13900 CALL & 13900 PUT. AS PER DATA ANALYSIS MARKET LOOKS NEGATIVE BUT TECHNICALLY MARKET IS TRADING IN OVERSOLD ZONE AND MAY GIVE OPPORTUNITY IN TOMORROW MORNING SESSION. VALUATION WISE INDIAN MIDCAP LOOKS ATTRACTIVE BUT BUY ON DIPS STRATEGY USEFUL FOR LONG TERM INVESTMENT. AND AVOID POSITIONAL TRADING RIGHT NOW . AS PER OPTION CHAIN ANALYSIS 13500 LOOKS STRONG SUPPORT LEVEL. MAXIMUM PUT WRITING SEEN @ 13500 PUT LEVEL. IF MIDCPNIFTY BREAK 13500 LEVEL THAN 13200 WILL BE NEXT SUPPORT LEVEL. NEAR TERM 13900 IS STRONG RESISTANCE LEVEL. PUT CALL RATIO OF MIDCPNIFTY IS 0.92 THIS PCR RATIO INDICATES CALL OPTION SELLERS ARE STILL DOMINATING IN THIS MARKET.