- DIIs have bought for Rs 2337 crores.
- 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.
- 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.
- 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.
- Nifty max pain level currently at 10800
- Bank Nifty max pain level currently at 26800
- Nifty PCR at 0.95
- Nifty Bank PCR at 1.31.
- Nifty: 10600 PE and 10800 CE
- Bank Nifty: 26000 PE and 2700 CE
- FII: -1,239.79 CR
- DII: 2,336.74 CR
F&O Stocks under Ban: 8 securities under F&O ban
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.