Nifty Fall Predicted with the help of Neo wave and Price Action.

Neo wave helps to understand the overall maturity of trend and provides the probable path prices can follow. It is important to combine the application of wave theory along with price action for the clear trade setup and to stay objective.

Nifty Hourly Chart with Neo wave as on 14^th January 2025
Nifty Hourly Chart with Open Interest Data as on 14th January 2025
Nifty has been consolidating post sharp selloff seen over past few days. Prices since many days has still not closed above prior day's high keeping the overall tone sell on rise.

Open interest profile - This is an important indicator that shows big players activity. We can see sharp rise near 23200 calls and put OI. This is suggesting short straddle in play and market can possibly move in a broad range before starting to trend again.

Options data is crucial for even stock traders. We can see that if prices sustains below 23000 levels then there can be panic like situation and put sellers might have to cover their short positions. On upside 23500 is major hurdle.

Nifty Neo wave chart suggests prices are moving down in wave (e) of Diametric pattern within the channel. The break above the channel will suggest wave (f) pullback before wave (g) resumes lower.

In a nutshell, Options data is showing sideways action possible over next two days as long as 23040 - 23420 levels remains intact. By combining Options data with Neo wave forecasting powerful trade setup can be created.

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