1. I expect Nifty is getting ready for another fall.
2. On Nifty Hour Chart last few candles trying to form a Bearish Flag Formation. Currently, it may be looking like an Ascending Triangle Formation.
3. If Triangle formation break out happens then to Nifty may rise to 61.8% retracement from the last steep fall. Marked with ABCD Pattern.
4. Soon, 50Days MA act like the major resistance to go long with nifty. 100Days MA act as the support for the same.
5. But, Change in Put OI @11700 in the Maximum (Major Support Level). Change in Call OI at 11800 , 11900 , 12000 is almost double to as compare to the change in PUT OI 11600 , 11500 , 11400 , 11300.
6. Don't be in hurry to make the Entry wait for trend line break out happen.
7. Sell Below 11742 Target: 11725 , 11705