Nifty likely to trade with limited upside 0 629

Pre Market Updates Tuesday February 19, 2019
Nifty levels

Positive Points:

  • DIIs have bought for Rs 2337 crores.

Negative Points:

  • US oil prices hit a three-month high on Tuesday
  • India VIX witnessed a sharp spike and ended 10.4% higher at 18.17. Sudden upside in the VIX restricts immediate upside in the near term.

Outlook:

  • Looks like market participants have turned cautious ahead of the general election, the rise in crude oil prices, developments around Brexit deal, movement of rupee against the US dollar and geopolitical concerns.
  • More than 300 stocks on the NSE hit a fresh 52-week low
  • More than 500 stocks on the BSE hit a fresh 52-week low
  • Nifty likely to trade with limited upside
  • Problem will be only when Nifty falls below 10550.If these levels are broken, then Nifty is likely to revisit 10000.
  • Nifty likely to face resistance at 10760 and support at 10620.

Simple Moving Averages:

  • 50 days SMA: 10816
  • 150 days SMA: 10909
  • 200 days SMA: 10860

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  Bearish candle

  • Nifty forms bearish candle for the 8th day in a row.
  • This candlestick implies relatively strong selling pressure, and shows that prices declined during the day significantly from open to close and the sellers were aggressive.

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 10800
  • Bank Nifty max pain level currently at 26800

Put Call Ratio

  • Nifty PCR at 0.95
  • Nifty Bank PCR at 1.31.

Max O.I Strikes

  • Nifty: 10600 PE and 10800 CE
  • Bank Nifty: 26000 PE and 2700 CE

FII & DII Net Purchase / Sales

  • FII: -1,239.79 CR
  • DII: 2,336.74 CR

F&O Stocks under Ban: 8 securities under F&O ban

  • ADANIENT
  • CGPOWER
  • IDBI
  • JETAIRWAYS
  • JISLJALEQS
  • PCJEWELLER
  • 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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Formation of Nifty50 is in downtrend 0 544

Pre Market Updates Monday February 18, 2019
Nifty levels

Outlook:

  • Now a days, due to over open positions I can’t write pre-market updates on time. From March I will schedule to post daily article before 8.00am.
  • RBI board meeting, GST Council meet, US-China trade talks, crude oil prices, movement of rupee against the US dollar and the last leg of corporate earnings are among the major events that market may take cues from this week.
  • Nifty50 traded continuously in negative candles for seven sessions.
  • On Friday, recovery around the closing session shows buyers gaining the momentum.
  • And also, If markets move above 10800, again shorts may like to enter the system.
  • Nifty likely to trade within Friday range.
  • Friday high and low points may act as a immediate range for Nifty which falls around at 10620-10780.
  • Huge open positions were added in both OTM call and put option strikes along with a rise in implied volatility, indicating a possibility of a continued volatile scenario for the index going forward.
  • Nifty likely to face resistance at 10780 and support at 10620.

Simple Moving Averages:

  • 50 days SMA: 10817
  • 150 days SMA: 10911
  • 200 days SMA: 10860

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  Hammer candle

  • Nifty50 formed Hammer candle on the daily charts
  • Trend reversal patterns
  • The bears have lost control.
  • It reflecting smart buying in the lower levels.

Patterns:  

  • Formation of Nifty50 is in downtrend.

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10700
  • Bank Nifty max pain level currently at 27000

Put Call Ratio

  • Nifty PCR at 1.01
  • Nifty Bank PCR at 1.31.

Max O.I Strikes

  • Nifty: 10600 PE and 10800 CE
  • Bank Nifty: 26500 PE and 26900 CE

FII & DII Net Purchase / Sales

  • FII: -966.43 CR
  • DII: 853.25 CR

F&O Stocks under Ban: 7 securities under F&O ban

  • ADANIENT
  • CGPower
  • JETAIRWAYS
  • JISLJALEQS
  • PCJEWELLER
  • RPOWER

FnO Earnings

  • ENGINERSIN
  • AMBUJACEM

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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