Friday 16 February 2018

Trade Setup For Friday: Top 15 Things You Should Know Before Opening Bell

Posted by suhani varma on Friday, February 16, 2018 with No comments



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Maximum call open interest (OI) of 52.7 lakh contracts stands at strike price 11,100, which will be a resistance for the February series, followed by 11,000, which now holds 49.96 lakh contracts in open interest, and 10,700, which has accumulated 37.88 lakh contracts in OI.The Nifty50 pared most of its gains made in trade on Thursday to close around its opening level forming a ‘Doji’ type of pattern on the daily candlestick charts.

A 'Doji' is formed when the index opens and then closes approximately around the same level but remained volatile throughout the day which is indicated by its long shadows on either side. The body will be insignificant which will appear like a plus sign on the charts.

For bulls to regain control of this market, Nifty should reclaim 10,600 levels to extend its upmove towards 10,700-10,800 levels. A tight stop loss below 10,398 should be kept for all long positions, suggest experts.


The Nifty50 which opened at 10,537 rose to an intraday high of 10,618 which made a long upper shadow, but bears quickly took control and pushed the index towards 10,500, which made a long lower shadow on the daily charts.

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