Nifty Daily Chart

 

 

 

Lets first look at Which side will have maximum pain

Nifty High October Series :5162

Nifty Low for October Series:4728

Middle Points of October Series: 4945(5162+4728/2)

Range:434 Points

So Below 4945 Bulls are in Pain and above 4945 Bears are in Pain.

Nifty Current Price:5098.35 which means Bears are in Pain.

What is Game Plan for Long Trades..

Shorts either needs to be covered or Roll Overed to next series, If Long trades keep holding and trading Nifty moves and trades above 5123 Bulls will make nifty move above 5150 and sheer pressure of Short covering in last 1-2 Hours will make nifty trade above 5169 and near 5198 levels.

Its basically a snowball effect which will make this happen.

1. For this scenario to take place Nifty needs to move and trade above 5123.
2. RBI need not come with any surprise on Rate Front
3. Global Markets needs to be supportive which they are as Dow is trading high by 62 Points

 

As Per Option data 5200 CE is having Highest OI and is the Laxman Rekha for Bulls.

 

Now Lets talk on the second scenario what if Nifty is unable to trade below 5123 tommrow.

Nifty needs to trade below 5084 and RBI comes with hawkish stance on Intrsat rate we could see a further fall till 5053 and the support for bears to 5035 range.

Based on above Observation Nifty Expiry range can be

Upper Range of Expiry:5165

Lower Rage of Expiry:5035

 

Trading Levels for 25 Oct in all Nifty Spot

 

Buy above 5110 Tgt 5123,5145,5169 and 5198

Sell below 5084 Tgt 5053,5035,5016 and 4998