Good Morning and Wish You a Happy Trading Session ….
At Muhurat
trading Nifty Future opened with positive node with gap-up and through the 60
minutes session it hold its up moving tendency.
From couple
of day writing about the rally, those are regular read of my posts have noticed
it. From 10030 Nifty Future already made high 10648, net 618 points of rally.
But after
predict the wave pattern it is clear that the move will continue its journey
more. And we can see Nifty Future is touching 11179 very soon.
But one
factor is 10716. It closes about it then the mentioned top is possible.
When Market changes its direction suddenly then generally a
conflict raised. After 14.96% of fall through 35 trading days, when Nifty
Future reverse 6.16% within 9 trading days then generally a controversy took
place.
Is the Index already made bottom? Or this is the beginning
of a fresh Bull move. This is the point of conflict.
On Muhurat trading Foreign Institutional
Investors have bought 66.5 Cr. and sold 53.38 Cr. net trade was +31.02 Cr.
Domestic Institutional Investors have sold 3.85
Cr. Against buy of 30.96 Cr.
India VIX made high 18.5050 and low 16.8100
yesterday. Volatility is not increasing in parallel with the Index.
Advance and decline ratio of the Nifty is 48:02
(almost one sided).
Strike price of most active Nifty CALL was 10800,
open interest add 24, 28,275
But most active PUT was 10600, and turnover was
15, 00,600 from last two sessions the range of most active options is same.
Key Support-Resistance
level of Nifty Future
Vital resistance of the day is 10665, above this
Nifty Future will jump to touch 10716. Single closing above this Nifty Future
will rally to 10940.25---10963.95
Below 10638.90---10632 Nifty Future may fall down
to 10550---10501.
The
move may continue more (will update timely)…..
Today’s
Overview:
From any of mentioned resistance level (first
two) Nifty Future may take one or two days correction. But to create new top the index will run more.
