NIFTY
At the Start of the month the MAX OI for SEP-14 was at 8000-8200. So Was expecting a BO or BD. But neither happened. So this month, NIFTY was successfully trading in a Narrow Range. Hopefully next month should be with some BIG moves.
The Current Trends
LTF - Down... Support @ 8040 SPOT
HTF - UP. - Resistance @ 8225 SPOT
Daily - TREND Reversed to DOWN. Tested Support @ 7962 Futures and Triggered a SELL above 8153 Futures.
Weekly - Reversed to DOWN. Resistance between 8203-87. Support 7610-7695.
Monthly - UP. Support @ 7225. Resistance @ 8727.
From the Options Chain the Range seems to be 7950-8150 with Pivot @ 8050. So 8050 Breaks look for 7950.
The Expiry might be around 8050. MAX Pain is now @ 8100
BANKNIFTY
LTF - UP / Rangebound - R@16150 S@16050
HTF - UP - S@16093. R@16367
Daily - DOWN - S@15500. R@16306.
Weekly - Reversed DOWN. R@16761. S@14375
Monthly - UP. S@14370. R@18214.
As per Options the Range is 15600-16100. MAX Pain @ 16000.