Nifty Intraday Tips

Nifty Future Rally

                                                         

Good Morning and Wish You a Happy Trading Session ….

On Friday after a gap up opening Nifty Future was able to make top above 10500 (top was 10508.90). But the index failed to sustain above the level, an intraday correction pull down Nifty Future to 10452.

Trading

                     

Further attempt to cross the day’s high failed, when Nifty Future after touch high 10504 melt to 10474.

Although within two session Nifty Future rallied around 354 points (from low 10155). But the panic feelings are active in the mind of investors. Only one question is 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.

 

U-turn

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

As usual sell value of their trade was higher than by buy value by -1322.13 Cr.   Foreign Institutional Investors are continuously maintaining the selling pressure at market.

 From 01 October to till the last session of this month FIIs have net sold -19557.50 Cr.

 Domestic Institutional Investors have bought 4564.80 Cr. Against sell of 3277.51 Cr.

India VIX Snapshot

At Friday’s session Advance-decline ration of Nifty 50 was 46:4, despite this India VIX made high 20.5475, higher than previous day’s high ( high was 20.1450).

It is indicating another round of Panic may be on card.

OI at Option Trading

Strike price of most active Nifty CALL was 10600, OI was 24, 27,825. But most active PUT was 10000, and the open interest was 42, 08,250

Key Support-Resistance level of Nifty Future

 

resistance

First resistance of the day is 10527.40, cross or closing above 10546 Nifty Future may run to touch 10583/10586. This resistance may be the turning point of the rally which has started from 10155.

Vital support of the day is 10468/10460; below 10337 crucial support is 10321.

At opening if fail to open above Friday’s high 10508.90, then Nifty Future may meltdown to 10307.

 

support

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

Today’s 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 10321, then another round of PANIC may melt down the index below 10155.