Nifty Outlook for 17-Oct-2023 based on Option Chain data as on EOD 16-Oct-2023 for Expiry on 19-Oct-2023

Nifty Outlook for 17-Oct-2023 based on Option Chain data as on EOD 16-Oct-2023 for Expiry on 19-Oct-2023

Nifty data is split with one parameter pointing towards 19646 and another pointing towards 19802. Probably global uncertainty is causing this confusion. 

Current monthly expiry data for 26-Oct-2023 is pointing towards 19500

Current year end expiry data for 28-Dec-2023 also looks weak, probably because of upcoming 5 states election but there is still 2 more moths to that expiry.

Mentioned levels are for futures and not spot.

Nifty spot level of 19650 is good support. Below that, the next minor support is between 19450 and 19550.

Disclaimer - This is not a investment or trading advice / recommendation. It does not look at Technical Analysis or Fundamental Analysis. It is based on quantitative approach using Predictive Analytics. The outcome could be prone to data issues or calculation issues. This post is for information purpose only.  I don't charge or offer any paid service. The higher probability percentage or ranking does not guarantee the actual outcome to be matching with that of predicted outcome. I am not SEBI registered. For more details on Probability Analysis refer the FAQ in link below https://www.marketprobabilityinsights.com/p/what-is-probability-analysis.html 
Location: India

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