NIFTY Spot View: 10/06/2024
CMP: 23290.15
Moving AVG (EMA) 20 Hour & 40 Hour: 22927 & 22790
Moving AVG (EMA) 20 Day & 40 Day: 22655 & 22523
Support & Downside Range: 23145—23017—22834--22538
Resistance & Upside Range: 23340—23450--23700
Short Term Trend Reversal Level: --
Trading View Summary:
• In today's intraday trading session key level to watch is 23145—23017 support zone.
• As long as nifty is trading above 23145—23017 its short term trend remains bullish for upside minimum 23340 to 23450 & maximum 23700 spot levels.
• Whereas after opening if nifty breaks 23145—23017 spot levels it's going to be a first sign of profit booking pullback & in that case nifty can fall downside towards minimum 22834 to maximum 22538 spot levels.
Option Chain Analysis (10-June-2024 ;EOD)
The options market indicates that there is a notable concentration of open interest at the 23500 call and the 23000 put. Today's option chain analysis reveals a higher volume of put writing in comparison to call writing, signaling a mild bullish sentiment in the market.
The Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 22985 and 23410. The Max Pain is seen at 23000 spot with the CE/PE Combined Residual Premium/Pain Value of 950.59 Crores.
