Nifty is facing hurdle ahead of Fed Meeting, formed Doji type pattern on daily chart. Nifty started it's upward journey and continued today and closure to first resistance of 18700-750. Thereafter ATH level (18888) will be a major resistance as of now. Traders await interest rate decision by US Federal Reserve tonight. Nifty remained rangebound following a start with an upside gap. On the higher end, however, it failed to move beyond the resistance of 18,700. The trend remains positive as long as it holds above 18,500..
On the higher end, the directional up move may come above 18,700 only, he feels. Till then, Nifty may remain within the range of 18,500-18,700.
On the Option front, we have consistently seen maximum Call open interest at 19,000 strike followed by 20,000 strike. 20 k is not possible in 2022..but 19k is not far away from here but so many stoppages there in between. Traders should focus on stocks rather than indices as huge volatility may hurt you anytime.
Bank nifty rallied towards 44000 for the first time in life and this may lead to 45000...
Overall trend is firm and will continue unless some bad news from Fed... Expect positive for future opportunities 💐