Earnings Will Give the Relief to Bulls 0 1118

Pre Market Updates: Monday October 8, 2018
Nifty levels
  • The Nifty has been making lower highs-lower lows on a weekly scale and has fallen around 1,500 points in the last five weeks.
  • Most technical experts are advising investors not to go short at current levels because there is a higher probability that we could see a relief rally in markets.
  • The last two-three sessions have seen the market getting deeply oversold.
  • As we approach the fresh week, we once again approach the market with extremely oversold technical indicators.
  • Earnings from India Inc will play very important role this week will give the relief to bulls.
  • Nifty likely to face resistance at 10500 and Support at 10200

Nifty50 Technical Analysis:  Three Black Crows

  • Nifty forms Three Black Crows
  • The Three Black Crows usually indicates a weakness in an established uptrend and the potential emergence of a down trend.

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10800
  • Bank Nifty max pain level currently at 24700

Put Call Ratio

  • Nifty PCR at 1.07 versus 1.21
  • Nifty Bank PCR at 0.71 versus 0.82.

Max O.I Strikes

  • Nifty: 11000.00 CE and 10000.00 PE
  • Bank Nifty: 25000.00 CE and 26000.00 CE, 24000.00 PE

Earnings to Watch

  • Tata Elxsi.
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