- 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.
- 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..
- Nifty max pain level currently at 11000
- Bank Nifty max pain level currently at 27500
- Nifty PCR at 1.51
- Nifty Bank PCR at 1.05.
- Nifty: 11000 PE and 11100 CE
- Bank Nifty: 27400 PE and 27700 CE
- FII: 1,130.78 CR
- DII: -878.45 CR
Securities in ban period for F&O segment: 3 securities under ban
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