 |
| Market-Fall-and-Reverse |
Good Morning and Wish You a Happy Trading Session ….
After negative opening Nifty Future continue down flow till mid session. Forming day’s low at 10073 the index reverse to 10175 (day’s high).
From 11793 (life time high, made on 31 August’18)
Nifty Future already corrected 14.58% (1720 points).
Now question arise, what will be the reversal point of Nifty Future. From which support level it may take reverse.
Although yesterday’s net trade value (sell) was
lower than previous day, but as usual Foreign Institutional Investors net sold
-1495.71 Cr
Domestic
Institutional Investors have sold 7471.05 Cr. Against buy of 7810.65 Cr.
 |
| Last-Two-Day-Performance |
At last session of October expiry India VIX made
high 20.3300, and low was 18.8800, the index increased by 2.27% than previous
session.
Today if fail to cross yesterday’s high then it
will be the provider of strength to start a relief rally.
Strike price of most active Nifty CALL was 10300,
OI was 33, 19,275.
But most active PUT was 10000, and open interest
was 45, 00,000. From last few sessions most active put option is 10,000. And
Nifty Future yesterday made low 10073.
From 10200 to 10300 strikes (any resistance
level, I have mentioned) Nifty Future may start melting. But 10000 level is
acting as good support.
Key
Support-Resistance level of Nifty Future
Above yesterday’s high (10175) next resistance is
10197. Vital resistance of the day is 10248. If Nifty Future crosses 10284 with
volume, then it may touch 10319.90.
Vital support of the day is 10023.
If Nifty Future break 9958.75, then it may take
vital support at 9848--9845.95--9843.
Today’s
Overview:
If volume support then Nifty Future may form
bottom today (for the time being). A reverse rally is on card.
From
any resistance a small intraday correction is possible. From support level a
relief rally may start.
No comments:
Post a Comment