Nifty Future Analysis

Good Morning and Wish You a Happy Trading Session ….

After open at green Nifty Future made high 10745 and fail so sustain above the level and fall down to 10693.70, written yesterday from first hour’s top a small intraday correction is quite possible.

Making bottom at 10693.70 Nifty Future run towards high and made intraday new high 10779.

From its up journey from 10030 Nifty Future already rallied 7.47%. Now the question arise is Nifty Future near of the TOP, if so then a sharp bear move is waiting. Coming BEAR move may melt down Nifty Future near 9900 level.

After analysis the wave structure it can be predict this is not time for fresh short position. Keep in touch with our post.

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

Yesterday Foreign Institutional Investors have bought 4750.06 Cr. and sold 3646.70 Cr. net trades were +1103.36 Cr.

Domestic Institutional Investors have sold 3204.85 Cr. Against buy of 2894.59 Cr. net trade values -310.26 Cr,

India VIX Snapshot

India VIX made high 19.6500 and low 13.5150 yesterday.  Low bend of the index supporting the less movement at market.

Advance and decline ratio of the Nifty is 37:13,

OI at Option Trading

Strike price of most active Nifty CALL was 10800, open interest add 34, 05,150

But most active PUT was 10500, and Open Interest was 33, 32,925, from couple of day’s lower band of active put 10500, and the open interest is increasing.

Key Support-Resistance level of Nifty Future

Yesterday written about the resistance 10771.95, Nifty future made high 10779. Now above 10782 Nifty future may run to touch 10837.78---10845.

First support of the day is 10716.70---10709.59

Today’s Overview:

Those are holding long be cautious, a sharp correction is on card.