A recovery of 160 points. After 16.9.18 today is the first day when Nifty closed above 5 DMA. Is it a sign and/or confirmation of reversal from the bear grip? What propelled this smart gain? It can be attributed to SBI's steps to boost liquidity of the NBFCs. Nifty must close above 9 DMA and 15 DMA and then 200 DMA to make sure that market is back to uptrend. It is possible that till these MAs instill confidence in the shaken spirit of the bulls, there remains some possibility of consolidation below 200 DMA.
OI Table: Not much has changed on OI Table. 10000 Put (second highest OI) remains the major support whereas 11000 Call strike (highest OI) remains the challenge for the bulls. Moreover bulls will gain on some confidence if they can close Nifty above 10500 level by tomorrow.
OI Table: Not much has changed on OI Table. 10000 Put (second highest OI) remains the major support whereas 11000 Call strike (highest OI) remains the challenge for the bulls. Moreover bulls will gain on some confidence if they can close Nifty above 10500 level by tomorrow.