Nifty – Option Chain Analysis

4th Feb:

5 Mins Time Frame:

  • Nifty moved up side in last trading session. Expected to reverse from 17927 to 17680 level having its 1st support level.
  • 9 count is complete in this time frame, probability of reversal is there fore high

15 mins time frame:

  • Market has tried to show bullishness, this is more like a trap. It will not be able to hold this position long enough and start falling in next sessions
  • Nifty is still trading above the our control level which is at 17700, expected to fall to this point again and can test the support at 17472 again.

23rd Jan (Monday): Nifty 50 expected move in next trading session.

SymbolNifty 50Nifty 50
Current Position1805518055
Time Frame1 hr15 mins
Up Area1837718224
Down Area1782017880
Expected TrendIn rangeIn range

21th Jan (Saturday): Lets look at the Nifty chart in higher time frame try to understand what could be the major expected trend. As we can see below the Nifty is below the point of control in the 4 hours time frame. Also it has broken the 50 ema (in orange). This can be further validated with the help of RSI. We can therefore expect the major upcoming trend to be in the DOWN side.

17th Jan (Tuesday): As we discussed earlier market is moving down. Every time it goes up its getting rejection and in the process forming lower high. This pattern is expected to continue. Please note we do our analysis based on the data and is purely for educational purpose only. Make sure you manage your risk wisely before getting into any trade.

13th Jan (Friday): Setup for this week could be break of the current support which has not broken on expiry and market forming a new range. It can reach upto 17565.

12th Jan (Thursday): Expiry day – expecting the support at 17872 to break today

11th Jan (Wednesday): The support of 17920 has again not broken and we have seen hint of reversal here. The market filled the gap and has again gone up.

10th Jan (Tuesday): It is expected that the market will go down. Since it has already tested the support 18228 and got rejection from that level. Next level to test again its 18872 where market has already reached 2 times in past and this could be the break phase for this support.

9th Jan (Monday): Expected move when analyzed in 5 mins time frame. Nifty future can go up to 18160 points and then can reverse. In 15 min time frame, our analysis says it could go bullish up to 18250 level. From this point it can again go bearish, but expected to be range bound at this level and decay the premium of option buyers.

Week 2 – Jan 2023

Nifty is expected to retest the 18350 level in this week.


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