NIFTY RANGE FOR TOMORROW 06,Aug 2020 Nifty Today Close 11101
PRICE ACTION ANALYSIS Today Nifty Made high of 11225 and low of 11065 then close at 11101 which shows the Selling pressure on High.
High to close - 124 points down Low to close - 36 points up i.e Bear Power is 3X+ more than Bull power BEARISH
NIFTY FUT (AUG) close - 11132 Future made High of 11226 and low of 11063 and closed at 11132
High to close - 94 points down Low to close - 69 points up i.e Bear Power is 1x+ Only in future
OPEN INTEREST ANALYSIS SPOT ATM - 11100 HIGH CE OI- 11000 (Support) HIGH PE OI- 11200 (Resistance) CHANGE IN OPEN INTEREST ANALYSIS OTM CONTRACTS
HIGHEST CHANGE STRIKE cE- 11200 IN THIS STRIKE 21800 CONTRACTS ADDED WILL ACT AS RESISTANCE FOR TOMORROW In CE side lot of new contracts are added in each strike is more than than PE side
HIGHEST CHANGE STRIKE PE - 11100 IN THIS STRIKE 10900+ CONTRACTS ADDED WILL ACT AS SUPPORT Below this not much contracts added in PE side no lack of support BEARISH BIAS ITM CONTRACTS
PE SIDE FRESH CONTRACTS ADDED IN ITM SIDE AND CE SIDE NO MUCH FRESH CONTRACTS AND ALSO BELOW 11.1K STRIKE EARLIER CONTRACTS ARE EXITED BEARISH BIAS
CONCLUSION BEARISH Range expectation No more upside beyond 11150 lower side 11070/11030/11000