On Friday Nifty Future opened flat with negative mood. After making day’s low at 10030 with sharp move, the Index tried to take a bounce back. And make day’s high at 10177.
But Nifty Future filed to sustain at high and
meltdown again near day’s low.
From 11793 (life time high, made on 31 August’18)
Nifty Future already corrected 14.95% (1763 points).
Today’s
first half’s Nifty Future behavior will show the direction of next move.
Now question arise, is Nifty Future going to break
10000 today? what will be the reversal
point of Nifty Future. From which
support level it may take reverse.
Foreign
Institutional Investors have bought at 4230.17 Cr and sold 5587.37 Cr. on
Friday.
Domestic Institutional Investors have sold
2344.76 Cr. Against buy of 4220.65 Cr.
On
Friday high of the Index was 21.04000 and low was 18.6600 (lower than previous
close 18.9625).
If
today the Index break 17.4990, then will confirmed the rally.
Strike
price of most active Nifty CALL was 10500, OI was 320, 18,175.
But
most active PUT was 10000, and open interest was 34, 03,875. From last few
sessions most active put option is 10,000. And Nifty Future yesterday made low
10073.
Key Support-Resistance level of Nifty Future
Above 10077.65
Nifty Future may face next resistance t 10101. Vital resistance of the day is
10142/10147.
Vital
support of the day is 9885. Crucial support of the week is 9827.
Today’s Overview:
If
volume support then Nifty Future may form bottom today (for the time being). A reverse rally is on card.
And today Nifty Future may break 10000 and
bottom may be below 9900.
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