Hello,
As you can see in the chart that Nifty is clearly maintaining its downtrend from its top @ 12100.
For the Intraday best way to trade is to buy from the support level and sell from the resistance level.
According to the data, option writers are writing 11700 calls very heavily on the other side put writers doesn't show confidence @ major support 11600 (OI in 11600 put writing is: 14.09.000)
Also in stock specific, we are getting follow throw in short side stocks only. It's very difficult to make money to trade long side.
As per my view, I will avoid intraday trading in Nifty or I will prefer to trade on the short side.
As you can see in the chart that Nifty is clearly maintaining its downtrend from its top @ 12100.
For the Intraday best way to trade is to buy from the support level and sell from the resistance level.
According to the data, option writers are writing 11700 calls very heavily on the other side put writers doesn't show confidence @ major support 11600 (OI in 11600 put writing is: 14.09.000)
Also in stock specific, we are getting follow throw in short side stocks only. It's very difficult to make money to trade long side.
As per my view, I will avoid intraday trading in Nifty or I will prefer to trade on the short side.