Good Morning and Wish You a Happy Trading Session ….
Nifty felt in
volatile trading on Friday, after a few failed attempts at a rally, led by IOC
– UPL – ADANIPORTS.
Nifty was
down by 1.81% and BSE Sensex was down by 1.89%.
From 14 December I am writing about the fall down.
I have written several times that wave patter seems over bought, within two sessions Nifty Future felt down 251
points.
This is not the end; more correction in the
market is over dew. But BULLs are no need to be
panic. From bottom of this move a fresh rally may touch a new life-time
high.
On Friday Institutional Investors have bought
6527.14 Cr. and sold 6393 Cr. net trades were +134.14 Cr.
And Domestic Institutional Investors have bought
3984.76 Cr. and sell of 4473.31 Cr. net trade values – 488.55 Cr,
India VIX made high 16.2300 and low 12.9400 on
Friday.
Advance and decline ratio of the Nifty was 5:45
Strike price of most active Nifty CALL was 11000;
OI was added 58, 75,425. And most active PUT was 10700; IO was 28, 06,875.
Key
Support-Resistance level of Nifty Future
First support of the day is 10733.85, below
10639.50 immediate support of Nifty Future is 10623.55---10610.75.
Single closing below 10556.45 Nifty Future may
take crucial support at 10499.95 within Wednesday.
Vital resistance of the day is 10799, above this
10820.35----10822.95---10823.60 zones is very strong.
Very tough hurdle is 10847—10859.90.
Today’s Overview:
If open above Friday’s low
10755, then a fresh intraday rally is possible, but rally will be small, more
correction is dew.
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