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Trade setup for Thursday 30,January 2020

All you need to know as a trader or Investor

Sensex closed 232 points, higher at 41,198.66 while Nifty rose 74 points and closed at 12,129.50.

Today is a big day expiry before the the budget day so nifty may be highly volatile be cautious and avoid any overnight position.

SGX nifty closed lower by 22 points on 29 January which shows negative opening for nifty.

Option Analysis:

Maximum open interest on call side at 12200 of 50.73 lakh contracts.

Call unwinding was seen at 12100 strike price.

Maximum open interest on put side at 12000 strike price of 34.83 lakh.

Put writing was seen at the 12,100 strike price 7.76 lakh new contracts gets added.

Put unwinding was seen at the 11800 strike price.

What to look for:

In early session nifty may start slow and seems to be open in negative and if nifty breaches 12110 than it can continue to fall and if it cross 12170 only then we can consider nifty to go long and may continue to be in uptrend. Most likely nifty to show sideways movement.

Watch the below video for detailed analysis.

Disclaimer: All the information shared only for learning purpose, we do not provide any tip or recommendation. Please do consult with your investment adviser before making any trade or investment decision.


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