Nifty Trading Tips

Nifty Trade at last session

                                                         

Good Morning and Wish You a Happy Trading Session ….

After a flat opening Nifty Future has continued its corrective move for last two consecutive days. Through the session never tried to bounce back, two small re-bounce (11379 up 11438 and 11357 up 11428) were regular corrective move.

Market Correcting

Main strength provider of yesterday’s correction was Foreign Institutional Investors; they have Sell 5848.17 Cr. against buy of 4704.44 Cr. net trade value was -1143.73 Cr. where DIIs act as opposite; their net trade value was +264.66 Cr.

Most active Call strike 11500, and Open Interest was 42,99,450 and most active Put 11200, contacts was add 37,20,525, that investors are expecting a range of 11500 to 11200.

The day before yesterday high low of India VIX was 14.6350-11.7300, yesterday Nifty Future fall 140 points from its day high but high-low of India VIX 14.6200-11.8725, quite similar of yesterday, what is this index indicating, any bounce back? Let see…

Key Support-Resistance level of Nifty Future

First resistance of first half is 11343, above this 11352 will act as tough hurdle to cross.

Crucial support zone of the day is 11285—11282, if break it then Nifty Future will take next support at 11204.

Group Work

Today’s Overview:

Like as last three sessions I am writing about the correction, at overview column writing to go short, yesterday also written “any pull back is good opportunity to go short (intraday)”. Today’s picture may vary (if volume support), from days low a bounce back is quite possible.

Tomorrow is holiday at NSE equity segment, therefore don’t carry any position.