Nifty Confirm Targets for 08 feb 2023

NIFTY SUPPORT AND RESISTANCE FOR F&O DAY TRADING


Support Zones For nifty Intraday Trading

First Support Zone For nifty50 – 17620 - 17635
Second Support Zone For nifty50 – 17445 - 17458
Third Support Zone For nifty50 – 17348 - 17364

Resistance Zones For nifty Intraday Trading

First Resistance Zone For Nifty – 17803 - 18815
Second Resistance Zone For Nifty – 17934 - 17947
Third Resistance Zone For Nifty – 18015 - 18030


Importent Signal from Nifty Option Chain

PCR ratio as per Option Chain Analysis – 0.65 ( Bearish )
Max Pain As per Option Chain Analysis – 17750
Major Support as Per Nifty Open Interest Analysis – 18000
Major Resistance as Per Nifty Open Interest Analysis – 17500

Conlusion -
Nifty is now in consolidation zone , not crossing Major Support or Support Resistance
Try to buy near Support Zone and Try to Short near resistance with small stoploss .