Consolidation at higher levels 0 1398

Outlook:

• Fresh long open positions added in Bank Nifty futures for the third trading day in a row.
• After crossing psychological 11000 levels, short term trend is expected to be positive, but there could be some consolidation at higher levels following three-day rally.
• Weekly expiry will bring add some volatility in today sessions.
• Also we can expect some sharp move in the closing hour.
• Nifty likely to face resistance at 11120 and support at 11000.

Simple Moving Averages:

• 50 days SMA: 10828
• 150 days SMA: 10895
• 200 days SMA: 10865

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  bullish candle

• Nifty formed a bullish candle for third day.

Patterns:  Rectangle channel patterns

• Price is currently hovering near resistance.
• It can occur in any direction upside or downside.
• If the breakout is in upside direction, it indicates that the bulls have taken over bears and indicates a buy signal.
• However if the breakout is in downside direction it indicates selling pressure or victory of bears over bulls and indicates a sell signal..

Options Data Tracking

Max Pain

• Nifty max pain level currently at 11000
• Bank Nifty max pain level currently at 27500

Put Call Ratio

• Nifty PCR at 1.51
• Nifty Bank PCR at 1.05.

Max O.I Strikes

• Nifty: 11000 PE and 11100 CE
• Bank Nifty: 27400 PE and 27700 CE

FII & DII Net Purchase / Sales

• FII: 1,130.78 CR
• DII: -878.45 CR

Securities in ban period for F&O segment: 3 securities under ban

• IDBI
• RPOWER
• WOCKPHARMA

Disclaimer: The views expressed by investment expert on rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.