NIFTY TECHNICAL ANALYSIS & DERIVATIVE STRATEGY

NIFTY BULLISH BREAKOUT ZONE 24200 NIFTY BEARISH BREAKOUT ZONE 24000 OPEN INTEREST UPDATES IN OPTION CHAIN YESTERDAY IN INTRADAY HEAVY CALL SELLING SEEN @ 24100 CALL AND 24000 PUT. AS PER OPTION CHAIN DATA ANALYSIS 24100 WILL PLAY RESISTANCE LEVEL AND 24000 WILL PLAY KEY SUPPORT LEVEL. IF NIFTY BREAK 24000 LEVEL THAN 23850 WILL BE NEXT TARGET AND UPSIDE 24200 WILL PLAY STRONG RESISTANCE LEVEL. DUE TO LACK OF ANY FRESH CLUE MARKET WILL TRADE IN NARROW RANGE. RISING CRUDE OIL PRICE MAY IMPACT NEGATIVELY IN INDIAN STOCK MARKET. FII LONG SHORT RATIO IN INDEX FUTURE IS STILL @ 9.39% INDICATES STILL FII IS HOLDING THEIR SHORT POSITION AGGRESSIVELY. ANY IMPROVEMENT IN THIS RATIO WILL PUSH NIFTY FURTHER TO 24200 LEVEL.