Nifty Future Trade

Nifty Future Traded

                                                         

Good Morning and Wish You a Happy Trading Session ….

After three consecutive corrections yesterday was some relief for bulls. Nifty Future at opening made high 11547.86 (written yesterday about the 1^st resistance 11548), after make low 11505 it bounce back to 11570, but fail to sustain and melt down sharply to 11470.and at last session there was huge short covering.

Ups n Down

The main cause of sudden fall was fall of Indian rupee. It crosses 72 first time, and market went to red zone.

Although behavioral sentiment was active on 11400 put, it generates 44, 61,675 contracts, at the opposite sentiment on 11600/11700 were almost same. And very low then PUT’s open interest.

Indian VIX made high 14.2000 greater than previous day. Increasing of Market and VIX simultaneously is very confusing. That indicate a corrective move it will be.

As usual Foreign Institutional Investors were one sell side; the net trade value was -455 Cr. And DII have bought(net trade value) 611.98 Cr.

Key Support-Resistance level of Nifty future

If Nifty Future able to sustain above 11547.74 and cross 11603 (yesterday’s high0 then vital resistance is 11646/48, once Nifty Future cross 11667/79 then will face resistance at 11690.

From any high/resistance level Nifty future take intraday correction, vital support of the day is 11544.once Nifty Future break recent low 11470 (yesterday low) then be ready for 11344/340, but chances is very remote.

Today’s Overview:

Move of Nifty Future/market will be zig-zag, a volatile session will define the next direction today.

Work analysis of 06 September:

Yesterday provided total 4 calls. At first call book losses of -2.4 point, 2^nd and 3^rd gave +34 and +108 points profit respectively. 4th  is holding.