Yesterday’s rise was surprising and today’s fall too. One would have expected Nifty to remain above 12000 after yesterday’s stellar performance. But it seems Global markets dominated our opening and then throughout the day Nifty remained down despite Banknifty’s best efforts to pull it up. Result was, Nifty closed much lower than yesterday. Please also check the youtube video posted under name Market movers India with more content. So then what about tomorrow? Let’s see.
FII & DII data: FIIs were Net buyers by a whopping 5023 Crs and DIIs were Net Sellers by a mere 248 Crs. And yet we saw a massive fall in 2nd half! What could have happened? In my opinion, FIIs sold index futres but probably were heavy buyers in equity and stock futures. The final data will come in tomorrow.
Option Chain data: (Expiry 28th November) On PUT side, highest total OI is at 11900 but highest fresh Put writing is at 12000. A little bit lesser frsh Put writing is seen at 11900 also. So, 11900 looks decent support for tomorrow. On CALL side, Highest total OI and highest Call writing is seen at 12000. And figures are massive. 12000 is going to be difficult for Nifty to scale. So for tomorrow trading limits are 11900-12000.
Charts: Nifty today made a super bearish candle with lower high, lower low and much lower close. It is a full bodied candle with very little shadows or wicks. On 15 min chart, there are 2 selling areas that could be used for shorting. For buying, 11900 is one probable support as per option chain data but, according to chart, reliable support is near 11867 where buying can be done. Please use stop loss for any trades you take.
All the best. Happy trading.
FII & DII data: FIIs were Net buyers by a whopping 5023 Crs and DIIs were Net Sellers by a mere 248 Crs. And yet we saw a massive fall in 2nd half! What could have happened? In my opinion, FIIs sold index futres but probably were heavy buyers in equity and stock futures. The final data will come in tomorrow.
Option Chain data: (Expiry 28th November) On PUT side, highest total OI is at 11900 but highest fresh Put writing is at 12000. A little bit lesser frsh Put writing is seen at 11900 also. So, 11900 looks decent support for tomorrow. On CALL side, Highest total OI and highest Call writing is seen at 12000. And figures are massive. 12000 is going to be difficult for Nifty to scale. So for tomorrow trading limits are 11900-12000.
Charts: Nifty today made a super bearish candle with lower high, lower low and much lower close. It is a full bodied candle with very little shadows or wicks. On 15 min chart, there are 2 selling areas that could be used for shorting. For buying, 11900 is one probable support as per option chain data but, according to chart, reliable support is near 11867 where buying can be done. Please use stop loss for any trades you take.
All the best. Happy trading.