Sensex Analysis
1. Opening Price Insight:
• If the #Sensex opens below 85,500, expect a #bearish or #sideways #trend.
• There’s a #support level around 85,600 according to #CPR, which may trigger a #buying opportunity if the #index retests this zone.
2. #Demand Zones:
• 85,300 is highlighted as a solid #demand zone, likely to act as another key support if prices move downward.
3. OI Data Interpretation:
• Strong #Put additions at 85,500PE (3.16L) and 85,000PE (5.24L) suggest bullish sentiment, making these important support zones, especially 85,000 for expiry.
• On the Call side, the buildup at 86,000 and 86,500 strikes (3.86L and 5.28L contracts) indicates potential resistance levels for the day.
This means a potential range could emerge between 85,000-86,500, with traders watching for key price movements around 85,600 and 85,500.
• If the #Sensex opens below 85,500, expect a #bearish or #sideways #trend.
• There’s a #support level around 85,600 according to #CPR, which may trigger a #buying opportunity if the #index retests this zone.
2. #Demand Zones:
• 85,300 is highlighted as a solid #demand zone, likely to act as another key support if prices move downward.
3. OI Data Interpretation:
• Strong #Put additions at 85,500PE (3.16L) and 85,000PE (5.24L) suggest bullish sentiment, making these important support zones, especially 85,000 for expiry.
• On the Call side, the buildup at 86,000 and 86,500 strikes (3.86L and 5.28L contracts) indicates potential resistance levels for the day.
This means a potential range could emerge between 85,000-86,500, with traders watching for key price movements around 85,600 and 85,500.
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