Nifty Future Rally

Good Morning and Wish You a Happy Trading Session ….

Yesterday after a positive opening, Nifty Future holds the acceleration of up move. From last few days writing about the rally. Yesterday’s move indicated the rally has begins. It will be clear today.

Although the wave pattern (till now) suggesting the up move. If today Nifty Future able to cross 6.75% from the low, than it will be a good indication of the rally.

After opening at 10089 Nifty Future run straight towards up, an intraday rally pulled Nifty Future to 10306.

FII/FPI & DII trading activity on NSE, BSE and MSEI

Yesterday Foreign Institutional Investors have bought at 4411.77 Cr and sold 6642.56 Cr. despite of up-move of 2.75% from low 10030 within two trading session, this kind of selling is confusing.

 Domestic Institutional Investors have sold 2925.24 Cr. Against buy of 5452.14 Cr.

India VIX Snapshot

India VIX made high 20.8125 and low 19.2325 yesterday. Decreasing of high and low of this Index is good for bulls.

Close below 17.2656 will confirm the rally. Yesterday advance-decline ratio was 42:8.

OI at Option Trading

Strike price of most active Nifty CALL was 10500, and turnover was 9, 64, 294 .83 laces.

But most active PUT was 10000, and turnover was 7, 32,169.lacs. From last few sessions most active put option is 10,000. And Nifty Future yesterday takes a bounce back.

Key Support-Resistance level of Nifty Future

Above 10317.95 Nifty Future may face next resistance t 10488. Single closing above 10488 Nifty Future may run to 10714.85

Today’s Overview:

After making low at 10030 on Friday Nifty Future reverse 276 points yesterday. Now looking towards 10715, this will confirm the rally.

Work analysis:

Friday our Clients have bought 10650 CE @34 today the instrument made high 70.