Good Morning and Wish You a Happy Trading Session ….
Yesterday
after open at green Nifty Future start to meltdown, and formed intraday bottom
at 10702. From there has tried to recover. After touching 10743, once again go
down and touched 10708.
Although movement
is very slow nowadays. But gradually the Index is climbing towards up again. Now
a question is moving in every traders mind, is this a recovery or start of a
rally.
Buy don’t accumulate
long now, Nifty Future is near of its TOP.
Yesterday Foreign Institutional Investors have bought
6286.83 Cr. and sold 5325.37 Cr. net trades were +962.26 Cr.
And Domestic Institutional Investors have sold
4023.05 Cr. Against buy of 3692.76 Cr. net trade values -330.29 Cr,
India VIX made high 19.3550 and low 16.6725
yesterday.
Advance and decline ratio of the Nifty is 19:31
Strike price of most active Nifty CALL was 10800,
open interest add 28, 62,675
But most active PUT was 10500, and Open Interest
was 34, 59, 750,
Key
Support-Resistance level of Nifty Future
Above 10786/10787 next immediate resistance of
the day are 10791/10796…..now vital question is what the top is or where the
life line will end of this move.
Vital resistance may be 10810.75 or 10811------10837
On the down side, crucial support level of the
day is 10588….if break 10642.85 then Nifty Future will melt down below 10588
within an hour.
Today’s
Overview:
First half’s movement will be
zigzag, a sharp correction is on card.
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