Nifty Future Today

Nifty Trade yesterday

                                                         

Good Morning and Wish You a Happy Trading Session ….

Yesterday Nifty Future’s open was gap-up with forming a new life time high 116622. But fail to stay at green, it melt down to 11553 and reverse to 11604.90 again.

correction

Tuesday range of India VIX was 13.6350 – 9.9275, yesterday’s band was 13.1175 - 9.5300. No change of bands, just look at the two days’ Nifty Future move also, almost same.

Tuesday Nifty Future starts to melt down from 11590 to 11558 and reverse to 11592 again. Yesterday move was same as “V”, made high 11622 down to 11553 and reverse to 11604.90.

Yesterday Foreign Institutional Investors’ net trade (Buy value – Sell value) value was +433.21 Crores. And Domestic Institutional Investor’s net trade value 142 Crose. Both institutions are buying from last two days.

On last trading session most active Call strike price was same as Tuesday 11600, and Open Interest built was 35, 32,125 contracts, and Put strike was 11500. Open Interest was 45, 85,650 contracts, was followed by strike 11400, OI was 41, 99,775 contracts.

That’s clearly indicating market participants’ view is range bound between 11600 to 11400.

The term “Accuracy”

Mid day update

Yesterday updated about the resistance 11603 to 11605.90 at all social media……look what was the result…..”Nothing to Hide”

Nifty Future is going to day

Already written yesterday Nifty Future is looking slight overbought. And a correction of 130+ points is overdue. After hitting high of 11622 it melts down to 11553.

Now what?

Vital resistance of the day is 11615, If Nifty future open above this and cross 11622 then next resistance will be 11642.

But it is quite possible to trade below 11615 or below 11604.90. Then vital support is 11502, and crucial support is 11481. Then what?

There is any possibility to bounce back from any support level? Let see…

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Stock Pick of the Month

Try to collect your memory, on 7 August, 2018 written about the Reliance Industries. Also written this is one of my favorite stocks. On 6^th August Reliance made high 1196, and I have updated to accumulate it.

Look what happened. Yesterday Reliance made fresh 52 week high of 1274 on NSE. On BSE it made high 1273.55. Free Float Market Capitalization (Crs.) 4, 46,087.36 and 4, 26,486...44 on NSE and BSE respectively.

As all of you know Reliance Industries Ltd. Is the 2^nd largest           WEIGHTAGE holder (9.34%) of Nifty 50, this is the one of the reasons Nifty Future turned green from red at the end of the session.