Nifty Future Rally
Good Morning and Wish You a Happy Trading Session
….
Yesterday’s movement was zigzag. Nifty Future made one top at 10531.95 and has taken two supports at 10405 and 10441. Market was very favorable for intraday trading.
Yesterday’s movement was zigzag. Nifty Future made one top at 10531.95 and has taken two supports at 10405 and 10441. Market was very favorable for intraday trading.
Although within three session Nifty Future rallied around 377
points (from low 10155). But the panic feelings are active in the mind of
investors, because from any top another round of PANIC is on card.
What happened with Foreign Institutional Investors? At last nine
sessions they have sold 19557.50 Cr. But at tenth session their net trade was
on buy side and too small of their average trading. It was +67.66 Cr.
Domestic Institutional
Investors have bought 2477.80 Cr. Against sell of 2183.02 Cr.
Yesterday’s move was zigzags; therefore rage of India VIX was very
close. High was 19.8225 and low as 15.9825.
Above 24.0300 be cautious, next round of correction may take place.
Strike price of most active Nifty CALL was 10700, OI was 32, 81,025.
But most active PUT was 10000, and the open interest was 34, 87,425
Key Support-Resistance level of Nifty Future
Yesterday written “First resistance of the day is 10527.40”
Nifty Future made high 10531,
Today above 10545.90/10550.50 Nifty Future will run to touch 10556.
After cross or closing above 10571 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 10452.55; below this crucial supports are
10406.90.
At opening if fail to open above yesterday’s high 10531.95, then Nifty
Future may meltdown to 10390.48.
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.
Rally will cross 10590???
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.
Work of 15 September:
Out of three calls first was not initiated and second got stop
losses triggered. Third call was accurate. It gains 85 points/lot.
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