Nifty Future Rally
Good Morning and Wish You a Happy Trading Session
….
Yesterday’s movement was very slow. After making high at 10597 Nifty Future melt down to 10532, again reverse from the day’s low and made new intraday high at 10599.
Yesterday’s movement was very slow. After making high at 10597 Nifty Future melt down to 10532, again reverse from the day’s low and made new intraday high at 10599.
Although within four session Nifty Future rallied around 444 points
(from low 10155). But the panic feelings are active in the mind of investors,
because from any top another round of PANIC is on card.
Only one question is circulating at every bite of second what
retail investors should do now.
Diversify their investment to a secure pocket or hold and watch.
After analyze the wave structure it seems this is the beginning, whole picture
is remaining.
Foreign Institutional Investors have start selling again on
yesterday. Except Monday they are continuously selling from 1st October.
Yesterday they have net sell -1165.63 Cr.
From last eleven sessions they have net sold (sell trade – buy trade)
20723.13 Cr.
Domestic Institutional
Investors have bought 3781.17 Cr. Against sell of 2721.73 Cr.
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India VIX Snapshot
Yesterday high of India VIX was 18.8840 and low was 14.2880;
written earlier last session’s movement was very slow.
Above 24.0300 be cautious, next round of correction may take place.
Strike price of most active Nifty CALL was 10700, OI was 30, 54,600.
But most active PUT was 10400, and open interest was 29, 15,175.
This range suggesting clearly a slower and range bound session.
Key Support-Resistance level of Nifty Future
Today above 10616/10619 Nifty Future will touch vital resistance
zone is 10627/10636/10642.
Tough hurdles to cross are 10716/10719.
Vital supports of the day are 10572/10564; below this 10551.85//10548.88
may be the crucial support.
Single closing below 10195 Nifty Future may melt down to 10028/9055.
Today’s Overview:
From any resistance levels (which I have predicted) a sharp
correction may took place, at long positions maintain strict stop losses.