Nifty50 28 March expiry analysis - Weekly Paisa

Interpretation of Nifty Open Interest Data:

Nifty has a maximum Open Interest on Call side is  34 Lakh at Strike Price 11500 &  on Put side is 26 Lakh at Strike Price 11400 
So Upper side 11500 is resistance & 11400 is support

+3 Lakh open interest increasing at call Side strike price 11500 is suggesting that strong resistance at 11500.

India VIX is at 17.05 is suggesting the Nifty is overbought. 
Nifty is closed at 11445. 
Daily CandleBearish Body on Daily Chart.
Nifty Daily Vedic Chart
Nifty Daily Vedic Chart

As we discussed in the previous blog,
Nifty closed at support line.If red line support will break then next support 11287 on the chart.If support will not break then 11500 which is resistance line on the chart.

Nifty perfectly following Redline support and blue line resistance of Vedic home 2.

Intraday Nifty Spot Target for 28 March:


Buy above 11466 Target 11484  11502  11520  11538

Sell below 11430 Target  11403   11376   11349



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