Pre Market Updates: Monday October 8, 2018
- 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.
- 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.