MIDCPNIFTY BULLISH BREAKOUT ZONE 14200 MIDCPNIFTY BEARISH BREAKOUT ZONE 13900 OPEN INTEREST UPDATES IN OPTION CHAIN : HIGHER OPEN INTEREST SEEN @ 14100 CALL & 14000 PUT. AS PER DATA ANALYSIS MARKET LOOKS RANGEBOUND TO NEGATIVE. AS PER OPTION CHAIN ANALYSIS 13900 LOOKS STRONG SUPPORT LEVEL. MAXIMUM PUT WRITING SEEN @ 13900 PUT LEVEL. IF MIDCPNIFTY BREAK 13900 LEVEL THAN 13600 WILL BE NEXT SUPPORT LEVEL. NEAR TERM 14200 IS STRONG RESISTANCE LEVEL. PUT CALL RATIO OF MIDCPNIFTY IS 0.8 THIS PCR RATIO INDICATES CALL OPTION SELLERS ARE STILL DOMINATING IN THIS MARKET. OVERALL GLOBAL MARKET STILL LOOKS BEARISH ANY GEOPOLITICAL POSITIVE DEVELOPMENT WILL PUSH MIDCP NIFTY ON HIGHER SIDE OTHERWISE TREND IS BEARISH SELL ON RISE STRATEGY IS USEFUL.

KAYNES

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