Nifty Trade Yesterday
Good Morning and Wish You a Happy Trading Session
….
After breaking previous day’s low (11322) Nifty Future tried to recover from 1st low 11300 to 11365, but failed and sleep down to 11297, and finally sharply and made day’s high 11430.
After breaking previous day’s low (11322) Nifty Future tried to recover from 1st low 11300 to 11365, but failed and sleep down to 11297, and finally sharply and made day’s high 11430.
After two days continue correction this bounce back was a relief for
Bulls for the time being. But you should take it carefully; it may be a relief or
may be a trap for bulls.
Indian VIX open-high was 15.3300(also previous day close), from the
top it made low 12.9800(-7.05%). A steady decries of VIX high to low indicating
low volatility at market. And clear the chance of bounce back from a corrective
move.
As like Tuesday’s session (-1454.63 Cr.) also at Wednesday Foreign
Institutional Investors have net sold -1086.39 Cr. But as usual Domestic
Institutional Investors was at buy mood. They have bough net +541.44 Cr.
Key Support-Resistance level of Nifty
future
At first half of trade Nifty Future may take support at 11375.60.
If sleep it (!) then may take next crucial support at 11330.
Vital resistance of the day is 11483.85 above this level tough hurdle
is 11505. Be cautious at this level. Nifty Future may
reverse to down around this level.
Today’s Overview:
First half’s move will towards upside. If volume support then may
face hurdle around 11505. It may be a turning point.