Nifty might open positive today. yesterday we saw profit booking from the higher levels as expected and Nifty closed right near the support level mentioned on the chart. Today, due to F&O expiry market may see some volatility and one should trade strictly at the levels.
KEY LEVEL is 10384 on the downside. The view is bullish till the support of 10384 is broken.
Nifty is consolidating right now and today is bank nifty expiry plus the global sentiments were a bit on the weaker side, so nifty can show some ebb n flow before moving in the trend.
For now 10384 is a key support level. 10400 PUT writing is on a continuous rise and also we saw some PUT writing at 10500 level too.
The PUT CALL Ratio is looking good. I still...
Nifty is near its All Time High. Global sentiments looked weak yesterday. OI Analysis shows upward move with the addition of more contracts at 10400 PUT yesterday. Some profit booking can be seen but for now the key level is 10384 considering the fact that 10400 is now looking like a support in the OI chart. The PUT CALL RATIO is also rising, so that's a good sign...
NIFTY is going to move up with the Elections suspense over now. OI numbers did see a rise in contracts on 10400 PUT by over a million and around 700K decrease at the 10400 CALL. Also the market might not move aggressively with the Resistance ahead at 10440 playing its part yesterday as drawn in the chart and closed right near at the level of 10384. We might see...
Nifty might open gap positive but there might too much volatility as the vote counting goes on in Gujarat. Today's trend prediction is kind of a no-brainer and Nifty will be moving up if BJP wins with majority and if it doesn't then the market will fall. The key level today is 10235. Not much to explain on the basis of chart or other factors today. The move ahead...
Nifty would move up on the basis of exit polls of Gujarat elections released yesterday.
But its always a wise thing to expect volatility in the market no matter what during these type of events.
If Nifty moves above 10330 then it will be seen as a breakout in the chart which is seen to be forming a flag pattern.
Also the VIX is trading above 16 from few sessions...
Nifty showed some volatility yesterday with the VIX touching the levels of 16.
Today seems to be no different and it will be highly volatile.
Like I mentioned yesterday that 10200 is an important level psychologically for the market.
Market did close yesterday above 10200 but then settled later at 10192. As we can see in the chart Nifty respected the levels drawn...
Nifty might consolidate with a few events in the line up. For now 10200 is a psychological and an important level for Nifty.
While PUT CALL RATIO is on the rise and the chances of the expected party of winning being high in the elections, the market most probably is going to go upwards.
For risk takers, I'd suggest a trade of going long in the market by buying...
With elections coming up one should stay nimble footed and book profits and play tactically.
Even though the market seems to be going up but the volatility cannot be ignored with elections nearby.
All the views are same but this idea is just to make you all aware of the situation and don't let the greed control you.
DIIs are on the offense and they are becoming kinda shopaholic and are on a crazy buying spree, whereas FIIs are still selling.
Keep buying on dips because the market is heading up for sure.
The chart is also supporting the trend and also my levels are pretty much respected too. So its going good for now.
Major resistances ahead are 10352 and 10405.
So DIIs won in the battle against the FIIs. I mean they always had the cash but showed heart in pushing the market up just before the upcoming elections.
Nifty is currently a buy on dips market now. The chart looks good for now. But again the price still dont justify itself, anyway as far as we traders are concerned, we are here to grasp every move.
The game is getting serious now between the FIIs and the DIIs.
With weak global cues and not so hopeful fundamentals within site for the moment, Nifty looks good at the level of 9700 but the DIIs got the money and the FIIs are trying to make the most of it.
They are on a selling spree and using the DIIs ego for their gain and even though the DIIs got the money to...
NIFTY broke the important support of 10235 and now the 10280 becomes a strong resistance.
I expect nifty to touch the levels of 10052 and 9996 in the upcoming sessions and also on the basis of the OI analysis 10000 seems like a very strong support. So do apply profit booking at the levels given.
And as you can see my levels are working nicely on the chart.
So I booked most of the profits yesterday from the Nifty short position and got a few lots because I expect Nifty to drift down to at least 10052 level.
If Nifty breaches that then the level of 9996 would come into play.
I'd suggest you all to use your buying power wisely and make long positions in steps just don't simply go all in at the 10052 level or the 9996...
Booking profits at 10125 now, right from 10480 and keeping a few lots just for the 10052 level.
This worked out well respecting almost all our levels on the chart.
A possible reversal seems close now from here but might show some consolidation at the start of it.
Anyway, for now 10000 seems a strong support and also the 10200 level has got too much...
Level 10182 is the next support level as per chart.
Meanwhile, we are following this trend from the last 4 sessions. So you can check the rest of the analysis in the previous ideas mentioned below.
And yes, do keep booking profits at every level.