Nifty Trade at last session
Good Morning and Wish You a Happy Trading Session
….
On Friday after a gap-up opening Nifty Future able to sustain above the previous day’s high (11430) through the session. Day’s low was 11466; Wednesday’s high was 11430.
On Friday after a gap-up opening Nifty Future able to sustain above the previous day’s high (11430) through the session. Day’s low was 11466; Wednesday’s high was 11430.
Through the session Nifty Future made three tops, after first top
11504.95 Nifty Future take a small intraday correct to 11466, after that from 2nd
top 11530 to 11505. Final top was 11559. And Nifty Future closed at 11547.30,
far above psychological level 11500.
Both the Institutional Investors have participated at the up-move. Most
active was FIIs, their net trade value was +1090.56 Cr. followed by DIIs, their
net trade value was +115.14 Cr.
At previous post I have written that “a steady decries of VIX high to low indicating low volatility at market. And clear the chance of bounceback from a corrective move”
Just look what happened, Nifty Future made a sharp bounce back with
gap-up opening and closing above 11500. At previous trading session India VIX
show a sharp decline from day’s high 14.2500 to 12.3225.
Most active call was 11600, Open Interest was 32, 45,250 and most active
put was 11400, the contracts was added was 40, 55,625.
Key Support-Resistance level of Nifty Future
At first half of session vital resistance is 11580, if cross it
smoothly then vital resistance is 11597. At this level a profit booking not be
ruled out. If able to cross 11605 then may touch 11625---11634.
Weekly closing below 11339 Nifty Future may drag to 11261—11230 level.
Today’s Overview:
From any resistance a sharp correction is possible. Don’t be
trapped at higher level.
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