Nifty is near Vedic number 11376.

Nifty is near Vedic Number 11376.

Nifty is closed at 11301. 

Interpretation of Nifty Open Interest Data:

Nifty has a maximum Open Interest on Call side is 13.30 Lakh at Strike Price 11300 & 9.42 Lakh at 11400 and maximum Open Interest on Put side is 12.42 Lakh at Strike Price 11300 & 19.23 Lakh at 11200.  So Upper side 11400 is resistance & 11200 is strong support. 

Open Interest on Put Side is increasing day by day. It is suggesting that Bear is completely on backfoot. 

India VIX is at 15.10 (0.20% Up) and PCR 2.05 is suggesting that the market will give small correction.
Daily CandleBig Bullish on Daily Chart


Nifty Candlestick daily Chart
Nifty Candlestick daily Chart


Nifty is closing at11301 and 133 points up. Nifty is going towards Vedic number 11376. It is possible to give a small correction near 11376. It is very difficult to break 11200 as maximum open interest is built at  11200. 

Do not short during any correction.


Strategy 

Nifty Weekly OptionsSell Nifty 14th March 11200 PE: CMP 14


Intraday Nifty Target:


Buy above 11322 Target 11349,11376,11403


Sell below 11268 Target 11241, 11214, 11178





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