Trading Nifty

Below are some observations which were posted as comments in the last post - 

How to Trade Nifty Next Week ?

There has been a consistent Upmove since the recent low of 5195 and Nifty is looking overheated . There may be some cooling down before any move of consequence unfolds . In general, the Next Week may be of a short term correction and consolidation within a range. Let us checkout the Trading Insight and important Levels for trade now .
 

Where will Nifty Expire ???

1.NIFTY HAS BECOME WEAK IN 5D VOL.PROFILE-

2.NIFTY HAS BROKEN DOWN RISING WEDGE AND TRENDLINE BOTH-

3.OPTIONS O.I./ PCR &ROLLOVER SHOWS THAT-

A. UPSIDE CAP AT 5500 AND DOWNSIDE AT 5300, AS AT START OF THE WEEK

B. NO. OF CALLS ,71.76 LACS, HAVE EXCEEDED THE PUTS ,60LACS, AT THE STRIKE OF 5400 ,GIVING A LIKELY EXPIRY BELOW 5400

C. THE PUT CALL RATIO IS AT 1.07 ,I.E. ON BEARISH SIDE ,BUT IT IS VERY VOLATILE SINCE LAST WEEK ,SHOWING  INDESICION

D. ROLLOVER IN AUGUST FUTURES SINCE LAST THREE DAYS IS BETWEEN THE SMALL RANGE OF 5468-5395 ,THIS RANGE AMOUNTS TO 75% OF TOTAL R.O. OF 2.1 CR. NIFTY FUTURE .

LIKELY RANGE TOMORROW-

KEEPING IN MIND THE ATR(14) OF APPROX. 60 AND ABOVE OBSERVATIONS, NIFTY MAY TRADE BETWEEN 5360-5440, ANY RANGE BREAK WILL BE QUITE VOLATILE

MY BIAS IS FOR A LIKELY EXPIRY BETWEEN 5385-5415.