MIDCPNIFTY TECHNICAL LEVEL & DERIVATIVE ANALYSIS

MIDCPNIFTY BULLISH BREAKOUT ZONE 14620 MIDCPNIFTY BEARISH BREAKOUT ZONE 14450 OPEN INTEREST UPDATES IN OPTION CHAIN: HIGHER OPEN INTEREST SEEN @ 14500 CALL & 14500 PUT. AS PER DATA ANALYSIS MARKET STILL LOOKS RANGEBOUND TO POSITIVE. AND AS PER OPTION CHAIN ANALYSIS 14650 LOOKS STRONG RESISTANCE LEVEL BECAUSE MAXIMUM CALL WRITING SEEN TODAY @ 14650 LEVEL. SO INTRADAY PLAYER TAKE LONG POSITION WITH 14650 LEVEL AND MAXIMUM PUT WRITING SEEN @ 14500 LEVEL AND IF MIDCP NIFTY BREAK 14500 LEVEL THAN SHORT SIDE OPPORTUNITY WILL CREATE FOR POSITIONAL TRADER. RIGHT NOW MIDCPNIFTY IS TRADING IN VERY TIGHT RANGE SO THIS SET UP IS NOT SUITABLE FOR OPTION BUYER THIS SETUP IS USEFUL FOR OPTION SELLER.