NIFTY TECHNICAL LEVEL & DERIVATIVE STRATEGY

NIFTY BULLISH BREAKOUT ZONE 24200 NIFTY BEARISH BREAKOUT ZONE 24090 OPEN INTEREST UPDATES IN OPTION CHAIN: HIGHER OPEN INTEREST SEEN @ 24200 CALL AND 23800 PUT. AS PER DATA ANALYSIS 24200 LOOKS STRONG RESISTANCE LEVEL FOR NIFTY BECAUSE HEAVY CALL SELLING SEEN @ 24200 CALL AND IMMEDIATE SUPPORT IS 24030 IF NIFTY BREAK 24030 SUPPORT THAN 23900 WILL WORK AS A SUPPORT LEVEL. FII LONG SHORT RATIO IN DERIVATIVE MARKET IS JUST 9.83% SHOWS STILL FII IS BEARISH ON NIFTY. ANY IMPROVEMENT IN RATIO WILL GIVE BUYING OPPORTUNITY TO BUYERS. AND CRUDE OIL PRICE IS DECREASING IN INTERNATIONAL MARKET WHICH IS GOOD SIGN FOR INDIAN MARKET. SMALL CAP AND MIDCAP STOCKS ARE STILL LOOKING GOOD COMPARE TO LONG TERM.