ArthavrkshRA
18 Sep • 8:16 AM · SEBI-Registered Analyst
Nifty Pre-Open: BOJ Watch, Aegis Vopak in Focus
As flagged in yesterday's view, Nifty held the 23,190 support and pushed higher, registering a high near the extreme 23,370 level, touching 23,363, before settling lower at 23,270. A rising channel remains visible on the intraday chart since the 23,107 low.
RSI at 51.46 holds comfortably above the midline, reinforcing the constructive tone since the bounce off 23,190. The BOJ decision today (8:30 AM IST) adds an event risk — a hike with a hawkish tone could strengthen the yen and pressure global equities, reinforcing the resistance-capped range, while a hold could ease pressure and support a relief bounce.
Resistance: 23,290, 23,370, then 23,445. Support: 23,220-23,245, then 23,185 and 23,107.
Support is placed at 23,220-23,245 for the day.
As long as this holds, bulls may attempt another push toward 23,370, followed by 23,445. A break below 23,220 would negate the rising channel, dragging the index toward 23,185, with 23,107 as the extreme downside. Options data shows PCR at 1.05, leaning mildly bullish, with heavy Put writing at 22,600-23,000 forming a base and Call OI building at 23,500-24,000(Source : Sensibull)

