Nifty Analysis 14.9.2020

Nifty 5 Min Intraday Chart 14.9.2020
Nifty 5 Min Intraday Chart 14.9.2020

Open 11540 Low 11383 High 11568 Close 11440

Nifty opened with a gap up of 72 points at 11540 levels and touched a high of 11550 on the first five minute candle. 

Nifty traded in a 40 point range throughout the morning session 11568-11528. Nifty could not cross day high levels of 11568 and fell 182 points from day high levels to touch a day low level of 11383 at around 2.25 pm.  

Nifty closed the day at 11440 down 23 points or .21 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 16 Declines 34 Unchanged 0

The highest gainer among Nifty 50 index was HCL Tech up 10.6 percent and biggest loser was Bharti Airtel down 3.77 percent. 

FNO Data Analysis

Nifty Sep Futures are trading at a discount of 7 points.

For Sep 10 expiry

Highest open interest Call side is at 11500 ce around 26.98 lakh shares

Highest open interest Put side is at 11400 pe around 22.38 lakh shares

Huge amount of call writing at 11550 ce means 11550 will act as strong resistance level for Nifty

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