Pre-Open Trading ideas of Nifty Spot for 10-11-2021 and onwards

By a staff reporter: 

Nifty spot prices were trading in a narrow range and almost flat with negative bias at 18044.25 level. Nifty’s immediate broader trend is range bound which upper range emerges around 18350 level while lower range stands at 17600 level.

For Wednesday, trend is likely to be range bound which upper band emerges at 18122 level while lower range stands at 17960 level. A break out or down will set next direction for the day. On ascent, if prices breach 18122 level then we may see further upside to 18176 and 18241 levels respectively.

On the other hand, if prices fail to sustain above 18000 level and breach 17960 level then we may expect some more down side which may take prices lower to 17900, 17835 and 17760 levels respectively.

The option data shows 18200CE has highest OI, followed by 18500CE while 17900PE has highest OI writers, followed by 17500PE. The wider range for Nifty is 17500 to 18500 while immediate range is 17900 to 18200 level.

India VIX moved down by 2.07% from 16.34 to 16.00 levels.

Source : Eureka

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