NIFTY HOW IT MOVES

If you closely study the move of nifty during the last 15 days, there is one thing very peculiar.

It moves 100 points up every week and forms a higher low.  On the higher side, it is consolidating very slowly. It gives opportunity to CE writers to take their own time to square off 11000 CE written off during last week.  

Again Nifty will visit 10950 which erodes the Call premium.  This exercise to continue till 19th of this month.  

Keep an eye on month end 11200 CE which is likely to bottom out near 19-22 by next week. That could be the bottom for the strike price.

Nifty likely to close above 200 DMA by 26th September expiry which is around 11200.  It should take some more time to take out 11141.

Range for next week is 10950-11185.

Bank Nifty 27820-28810.

Good Luck!

DO NOT EXPECT BIG MOVE OF 300-400 POINTS NEXT WEEK.  125 POINTS UP DOWN MOVE LIKELY TO CONTINUE TILL 26TH SEPTEMBER.