Mighty Nifty - Weekly Review Feb 7 - Feb 11

 Price was moving up with the support of trend line and now it is consolidating within the range 17480 -17600. This week this trend deciding zone will play an important role. Bearish below 17460 for the targets 17420, 17380, 17320, 17260 and 17200. Bullish above 17520 for the targets 17560, 17600, 17660, 17720 and 17780.

Nifty with trend line
Other expected moves

US market managed to close in green, though there was profit booking seen in technology stocks. High inflation concerns made Europeon markets to close in red. Asian market seems to be mixed.
Nifty maximum pain is seen at 17600(nifty crucial zone 17480 - 17600). Put : Call ratio is 0.82. Highest OI is seen @ 17800 CE where we are expecting double top formation.




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