July 6/25
Global Dow was doing well but saw profit booking in the last hour and closed +92 points (0.36%) yesterday. Markets world over are flat. SGX is in green with 40 odd points. Option chain Max pain at 10500. Total premium is 261. So, the range becomes 10290 to 10812 10600 CE and 10500 PE has seen writing. It'll work as a temporary range for today maybe. Max pain for Nifty Bank is 22000. Total premium 976. So range is 20,977 to 22,969 FnO Data No, new options' positions. We'll watch out things unfold rather than trying to predict. Charts & technicals On the daily timeframe, Nifty has 200 EMA at 10499. This may act as support. We are in a rising wedge sort of pattern in Nifty. Ideally, the way is to watch out for breakout on either side. Plan for today I'm tempted to short but more comfortable to do it at around 10680-10700 range. Might have to control the temptation and just let things unfold.