ilmscore | Prediction Details
"so here it can do some sort of time pass and then maybe it can go for the next move okay uh is is the basic Trend intact yes super trend is very much intact it will be intact till 21,200 almost and today where did we close we closed at 21658 okay so no tension 200 demma is way lower no need to even talk about that 50 demma is also pretty much lower n DEA excuse me cuffing a lot today 9 Dema is around 21,000 I'll just speak in a little bit low voice 9 Dema is around 21580 levels so still comfortably above that so no need to worry about the 200 day or the 50-day or the 9 day moving average neither to worry about the super Trend everything is positive the trend is also intact if you want to check the option chain data so here I pulled out the 11th Jan option chain data and if you see here highest open interest directly is at 20 2,000 okay and if you check on the lower side it is 21,500 which is 75826 so typically in the 500 points range the open interest will be highest but if you see here at 21, 650 also so many people are already in the money 21 21,600 also so many people are already in the money so you can imagine if 21,700 is also taken out out then we can see a sharp 200 points rally is what I feel if 21,700 is taken out okay because all these people would want to that will be then forced to unwind their positions and that could be possible is what I'm saying based on option chain okay a lot of calls uh a lot of open interest is also being added up here but if you if you ask 65,000 55,000 59,000 all these if you can see here 65,000 75,000 56 so I think put side the support side is much more stronger as compared to the resistances so I believe that I mean if if you're talking about the extreme year term minor price-wise time wise correction possible but other than that I believe that yes overall trend is intact I'm repeating overall trend seems to be intact no problem with the overall trend small correction here and there there cannot be denied okay so that was it about the technical analysis data"
By CA Rachana Phadke Ranade | January 4, 2024 | Pending
From video
Is the rally over? | CA Rachana Ranade 00:16:42 - 00:19:51
Interpreted Prediction
Nifty's trend is intact, with the super trend at 21,200 and the 9-day, 50-day, and 200-day moving averages all indicating a positive outlook. If 21,700 is breached, a 200-point rally is possible due to forced unwinding of positions. The put side shows stronger support compared to resistances.

Prediction Details

Topic
Nifty (Technical Analysis)

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