Good Morning and Wish You a Happy Trading Session ….
At Friday
Nifty Future opened with red and made days low at 10571. From this poin Nifty
Future started to move up. After a small bounce back the index made high
10643.95.
Through the
day move was slow and zigzag, live data showing mixed reaction before touching
top for the time beings.
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.
Last Friday Foreign Institutional Investors have bought
6394.98 Cr. and sold 5780.84 Cr. net trade was +614.14 Cr.
Domestic Institutional Investors have sold
3377.08 Cr. Against buy of 3039.98 Cr. net trade values -337.28
India VIX made high 18.7550 and low 16.7550
yesterday. Volatility is moving within a range from couple of days. It may
happen for decreasing volume or mixed reaction of market precipitance.
Advance and decline ratio of the Nifty is 28:22
that means a mix reaction is flowing though the mind of investors.
Strike price of most active Nifty CALL was 10800,
open interest add 26, 84,475
But most active PUT was 10500, and Open Interest
was 22, 88,025
Open position of Nifty Future is increasing from
last nine days, but volume or market participation is decreasing.
Key Support-Resistance
level of Nifty Future
Above 10655 very vital resistances are 10665.
Once Nifty Future crosses 10680 then will jump to hit 10716 with in the session.
Very vital support of the day is 10587.55. Once
Nifty Future breaks 10571 then will melt down to 10539.
Today’s
Overview:
From
any of days high a small term (2-3 days) correction is quite possible.