Nifty Trade yesterday
Good Morning and Wish You a Happy Trading Session
….
At the second day of expiry week Nifty Future continue the trend of making new high. After making high at 11761.70 Nifty Future sleep 11715. But at the end of the session sudden volume act as provider of strength to come back Nifty Future again at 11761.
At the second day of expiry week Nifty Future continue the trend of making new high. After making high at 11761.70 Nifty Future sleep 11715. But at the end of the session sudden volume act as provider of strength to come back Nifty Future again at 11761.
Strike price of most active call was 11800, Open interest generate was
26, 53,575 and most active Put was 11700, OI was 34, 61,400. This data
suggest a range bound move between11800 to 11700.
After making the base at 9.4300 and 9.5150 respectively at Tuesday India VIX jump to 12.6000 and the base was 10.3775. All of
this indicating volatility going to be increases.
Yesterday both institutions were on sell side.FII net
trade value was -161.05 and so as DII -199.28. Both data suggest Nifty Future
is near its Top,
Today’s Overview:
After analyzing the three key factors it is clear that a small correction
is overdue. And this will be a healthy correction. Investors should start some
profit booking. A correction around 150 points is quite possible. Today’s
trade will be some stock specific.
Very vital resistance of the day is 11766.77. If volume generates
at large scale then Nifty future may touch 11784. Tough hurdle to cross is
11818.
Nifty future may test support level at 11722, if break the
mentioned level then Nifty Future may melt down to 11692. Crucial support of
the week (before expiry) is 11666---------11617/11615.
Holding Positions:
Our Clients are holding Nifty Future long position from 11682, (tips
given at 01:39 pm, 27 August). Yesterday's high was 11761.
Intraday traders
book profit at 11707 on Monday.