Nifty Analysis 11.9.2020

Nifty 5 Min Intraday Chart 11.9.2020
Nifty 5 Min Intraday Chart 11.9.2020

Open 11447 High 11493 Low 11419 Close 11464

Nifty opened with a gap down of 2 points at 11447 levels and touched a low of 11425 on the first five minute candle.

Nifty traded in a 50 point range throughout the day 11425 on the downside 11475 on the upside.  

Nifty closed the day at 11464 down 15 points or .13 percent.

Nifty may have made a short term top at 11800 which may not be broken for some weeks now. It looks like Nifty may consolidate between 11200 – 11800 levels. A big move will come only when this range is broken

Market Breadth Nifty

Advances 21 Declines 29 Unchanged 0

The highest gainer among Nifty 50 index was Wipro up 2.81 percent and biggest loser was Zeel down 2.22 percent. 

FNO Data Analysis

Nifty Sep Futures are trading at a premium of 3 points.

For Sep 10 expiry

Highest open interest Call side is at 11500 ce around 23.50 lakh shares

Highest open interest Put side is at 10500 pe around 20.44 lakh shares

Huge amount of call writing at 11500 ce means 11500 will act as strong resistance level for Nifty

Open Trading and Demat Account in Just 10 minutes