Intraday study for Indian indices for 29th December 2022

Intraday study for Indian indices for 29th December 2022 by Harshit_Saxena on TradingView.com

Hi Good Morning
Yesterday market consolidate in a range because of the low volume and then the US market continue their downward momentum and the SGXNIFTY is showing the gapdown opening
The buying on dips is advisable because of the monthly expire
Now we talk about the Nifty and banknifty


Nifty:--
The support is at 17975-18025 with the resistance is at 18177-18255

Banknifty:--
The support is at 42500-42300 with the resistance is at 43050-43100-43300-43650

Sector and Stocks
Major sectors leaders are good on buying on dips
Sectors are same as the last

Comment:

we have 2CR puts OI support and reliance is also start performing along with the sector big movers there is no reason for shorting at this level as we are at support zone so i am thinking that the CE OI upper than 18000 has to cover their open position and market has to move up till 18211

same as in banknifty as i don't see that much huge put buildup on 1 strike in last 2years and the CE writer above the 42500 has to cover their position and movement has to come near about the 11:30 AM

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Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered