Bears Are Holding the Tight Grip in the Market 0 1432

Pre Market Updates: Wednesday September 19
Nifty levels


  • U.S. stocks closed up Tuesday as investors shrugged off escalating trade tensions to instead focus on the robust economy.
  • Major European indexes were mostly higher.
  • Asian stocks mostly trading positive.
  • Japan market is particularly higher, extending gains from the Tuesday session. Investors are looking ahead to the Bank of Japan’s monetary policy decision due later in the day.
  • Yesterday our markets dragged by state-run banks after the government’s decision to merge Bank of Baroda, Dena Bank and Vijaya Bank. Market did not receive it well.
  • Also the rupee depreciated following higher crude prices brings more negative sentiments.
  • Huge call writing was witnessed in 11400CE it may act as a highest point in the September series as of now.
  • Any pullback rally likely to test 11,350-11,400 zone
  • Nifty may trade between 11230 and 11380.

Nifty50 Technical Analysis: Bearish Candle

  • Nifty50 chart formed a Bearish Candle on daily scale and also closed below its 50 DEMA which indicates that Bears are holding the tight grip in the market
  • It was the second consecutive day of lower-high lower-low formation for the index.

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 11400
  • Bank Nifty max pain level currently at 26600

Put Call Ratio

  • Nifty 1.20 versus 1.28.
  • Nifty Bank 0.58 versus 0.84.

Max O.I Strikes

  • Nifty: 11500CE and 11200PE
  • Bank Nifty: 27000CE , 26500PE

FnO Stocks under Ban

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