Nifty likely to consolidate 0 747

Pre Market Updates Friday February 22, 2019
Nifty levels

Outlook:

  • US markets end in red on disappointing data, earnings; Asian markets follow suit.
  • On Thursday Nifty has hit One Week high Market continues with its upward move with participation coming from all sectors, bringing in momentum in rotational movement in stocks.
  • February first half sessions traded between 11118 and 10718
  • February Second half sessions trading between 10808 and 10585
  • So for now Nifty traded in the range of 11118 and 10585
  • Nifty likely to consolidate in the middle of its February month trading range.
  • Nifty daily chart indicates it likely to expire around 10800 levels
  • Nifty likely to face resistance at 10830 and support at 10730.

Simple Moving Averages:

  • 50 days SMA: 10818
  • 150 days SMA: 10909
  • 200 days SMA: 10860

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  bullish candle

  • Nifty formed a bullish candle for second day.

Patterns:  Ending Diagonal Pattern

  • Nifty index breached lower end of the multi week Ending Diagonal pattern on closing basis
  • Losing momentum to the downside, when prices finally turn bullish, it can be a swift correction to the upside.
  • This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam.
  • In all cases, they are found at the end of the higher degree motive or corrective wave.
  • This wave pattern indicates the termination of the previous trend of one higher degree.

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10823
  • Bank Nifty max pain level currently at 27000

Put Call Ratio

  • Nifty PCR at 1.11
  • Nifty Bank PCR at 1.30.

Max O.I Strikes

  • Nifty: 10700 PE and 10800 CE
  • Bank Nifty: 26500 PE and 27000 CE

FII & DII Net Purchase / Sales

  • FII: 48 CR
  • DII: 202.10 CR

Securities in ban period for F&O segment: 10  securities under ban

  • ADANIENT
  • ADANIPOWER
  • ALBK
  • IDBI
  • JETAIRWAYS
  • KSCL
  • PCJEWELLER
  • RELCAPITAL
  • RELINFRA
  • RPOWER

FnO Earnings

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.

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