Good Morning and Wish You a Happy Trading Session ….
After flat
opening Nifty Future meltdown to 10577, the bottom of the day. After this,
reverse with positive mood to 10630 then after 10659.
But wave
structure is suggesting that this not a bounce back, may be the part of a corrective
wave. Today’s first half’s trading /move will clear the scenario.
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.
Yesterday
Foreign Institutional Investors have bought 3237.55 Cr. and sold 4889.59 Cr.
net trades were -1652.04 Cr.
Domestic
Institutional Investors have sold 3682.97 Cr. Against buy of 3076.94 Cr. net
trade values +606.73 Cr,
India
VIX made high 20.0975 and low 15.5400 yesterday.
Advance
and decline ratio of the Nifty is 24:26
Strike
price of most active Nifty CALL was 10800, open interest add 33, 26,550
But
most active PUT was 10600, and Open Interest was 28, 04,100,
Key Support-Resistance level of Nifty Future
Vital
resistance of the day is 10680, above this Nifty Future may run to touch 10733.
On the
down side below 10516.65 Nifty Future may take support at 10464.70.
Today’s Overview:
From days high a sharp
correction is quite possible.
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