Nifty- Happy days are here again
1. Nifty has closed today with a strong green candle above the crucial resistance level of 17375 after breaching the resistance of 17246 along the way & taking solid support of 100EMA.
2. Despite news of omicron virus cases in india post market hours today, we did'nt see much effect on the sgp nifty futures- its indicating a gap up opening of 34pts tomorrow.
3. Second welcome development is that FIIs sold for measly 910cr on expiry day--compared to 1300cr purchased by DIIs. This is positive news for tomorrow if similar instance of net purchase continues.
4. Put call ratio is up at 1.37 -sentiments are up
5. For the second consecutive day, India Vix is down by 7%. Yesterday it was down by 8%. Lower vix probably supports the sentiments that the market is settling down, comfortable at these levels...no longer jittery.
Enough reasons to believe the rally is here to stay! Let us see if the markets rally tomorrow again. What is your reading?
2. Despite news of omicron virus cases in india post market hours today, we did'nt see much effect on the sgp nifty futures- its indicating a gap up opening of 34pts tomorrow.
3. Second welcome development is that FIIs sold for measly 910cr on expiry day--compared to 1300cr purchased by DIIs. This is positive news for tomorrow if similar instance of net purchase continues.
4. Put call ratio is up at 1.37 -sentiments are up
5. For the second consecutive day, India Vix is down by 7%. Yesterday it was down by 8%. Lower vix probably supports the sentiments that the market is settling down, comfortable at these levels...no longer jittery.
Enough reasons to believe the rally is here to stay! Let us see if the markets rally tomorrow again. What is your reading?
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