Nifty Future Rally
Good Morning and Wish You a Happy Trading Session
….
Yesterday’s deep red opening spread an overall panic in the market. From Wednesday’s high 10489 on Thursday Nifty Future open at 10208 and within couple of minutes it was down to 10155, day’s low.
Yesterday’s deep red opening spread an overall panic in the market. From Wednesday’s high 10489 on Thursday Nifty Future open at 10208 and within couple of minutes it was down to 10155, day’s low.
An intraday rally pulls up Nifty Future at 10370. But the panic feelings
were active in the mind of investors. Only one question circulating at every
bite of second what retail investors should do now.
Diversify their investment to a secure pocket or hold and watch.
After analyze the wave structure it seems this is the beginning, whole picture
is remaining.
After intraday rally of 2.12% from day’s low, the Nifty 50 Advance-Decline
ratio was 9:41, it is supporting my view.
After three trading sessions Foreign Institutional Investors have
increased their selling trade, although from the first trading day of this
month they are at selling side.
Yesterday FII have sold 7805.84 Cr. against buying trade of4936.43
Cr. From 01 October FIIs have net sold -18235.37 Cr.
Domestic Institutional
Investors have bought 5168.47 Cr. against selling of 3280.29 Cr.
Yesterday India VIX made high 20.1450. Yesterday written “If today
cross 22.97 then be ready for another round of PANIC” within few seconds of opening
Nifty Future made low 10155(day’s low) and reverse.
Therefore the Index made low 17.6275.
Strike price of most active Nifty CALL was 10500, and contact added
35, 24,250. But most active PUT was 10000, and the open interest was 37, 82,550
Just look at the range, upper circuit is 10500 and the lower is 10000.
This is indicating very high range of
volatility.
Key Support-Resistance level of Nifty Future
Above 10330 next resistance of the day are 10356. Vital resistance
of the day is 10386. Once Nifty Future close above the level then may spark to
run to near 10489 (recent high).
Keep in mind the word if Nifty Future cross and close above 10489
then only present scenario may change; otherwise Nifty Future will melt more.
Vital support of the day is 10218/10215.
Single closing below 10092 Nifty Future may melt down to 10028/9055.
Today’s Overview:
 |
| Overview |
From any resistance levels (which I have predicted) a sharp
correction may took place, at long positions maintain strict stop losses. Once Nifty Future break 10155 then 300+ point’s correction from day’s
high is on card.
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