Nifty Future Trend

Nifty Future Trend – broken rally

Good Morning and Wish You a Happy Trading Session ….

From last three sessions Nifty Future is going upwards. From 10212 it reverses 2.72%. From very beginning the wave pattern shows that it was not a bull move. Total movement of last session was upwards,

Graph

Never show any weakness and made intraday high 10489 (I have predicted 10485).

Advance and decline ratio of Nifty 50 was 42:8. After that a sudden fall will be a great surprise to bulls.

“After this rally (intraday) question arise, is Nifty Future bottomed for the time being or this is a part of relief for Bulls.

Or, this is good opportunity for Bears to go short again?”

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

As usual Foreign Institutional Investors were at sell side yesterday. They have sold 7072.93 Cr. against 5976.88 Cr. of buying.

From 01 October FIIs have net sold -15365.96 Cr.

 Domestic Institutional Investors have bought 5347.23 Cr. against selling of 3454.29 Cr.

India VIX Snapshot

Yesterday India VIX made high 19.7550 as the market was moving up.

The index is moving almost near of its 52 week high (24.0350). If today cross 22.97 then be ready for another round of PANIC. 

At The TOP

Key Support-Resistance level of Nifty Future

Yesterday written about the vital resistance 10485, Nifty Future made high 10489.

Today below 10439/10414 vital support is 10430, If Nifty Future open below 10310 then next support is 10282/10270.

Single closing below 10092 Nifty Future may melt down to 10028/9055.

Above 10576.60/10577.80 Nifty Future may run to touch 10614.55.

Today’s Overview:

Yesterday written:

Wave pattern from 10212 to 10424 to 10291 we can predict it is not the preparation or starting of any Bull move, it is the part of a correction.

Therefore try to short at higher level. Strictly avoid accumulate long for short/long term.

Although market was going up from last three sessions, but I have written continuously this is not a rally, is a part of correction.

SGX Nifty

SGX Nifty at night session was down by 1.99% (-209 points). Today below 10310 there will be overall panic.

Work of 10 October’2018

Work-sheet

There was four calls, two out of four got stop losses triggered, and rest achieved the target. Total profit was +51 -2 -2 +53 = 100 points/lot.