Pre Market Updates: Monday October 1, 2018
- India VIX moved down by 1.24 percent to 16.71 levels. It has spiked by 9.36 percent in this week while up by 35 percent in this month
- Rising volatility suggests that bears are holding the tight grip on the market
- Next big news is on RBI’s monitory policy coming this week.
- Bounce back Is Expected This Week.
- Today Auto and Cement monthly sales data will influence the auto and cement stocks.
- Today Nifty likely to trade in the range of 11100-10900
Nifty50 Technical Analysis: Bearish Engulfing.
- Bearish Engulfing Pattern formed in monthly chart
- it is a reversal candlestick pattern which is bearish in nature and appears at the end of an uptrend. It is a complex pattern made of two candlelines.
- The first candle is bullish in nature and the second is bearish in nature.
- Nifty PCR at 1.33 versus 1.35
- Nifty Bank PCR at 0.88 versus 0.72
