Sideways Consolidation Likely To Continue 0 1083

Pre Market Updates Friday January 11, 2019
Nifty levels

Outlook:

  • Global stocks have rallied since the start of the year amid optimism tensions are thawing between the US and China on trade and as commentary from the Federal Reserve showed policy makers have shifted to a more cautious approach to further interest-rate increases.
  • The strong pull back in oil coupled with extended weakness in rupee are seeing profit booking as select foreign investors turn sellers.
  • In 2019, we have been under-performing; we are down while most other major markets are higher.
  • Nifty is facing huge resistance between 10900 and 11000.
  • Index heavy weights stocks like Reliance, TCS and ITC are not doing well
  • Markets will react on TCS results today.
  • That will affect the entire IT sector. In short, IT pack would lead the market in today session
  • If markets are not breaking out next week, then Nifty will be trading between 10500 and 11000 for the rest of the month.
  • Sideways consolidation likely to continue.
  • Nifty likely to face resistance at 10940 and support at 10780.

Nifty50 Chart Analysis:  Bearish Belt Hold

  • Nifty formed Bearish Belt Hold candle on the daily charts.
  • Resistance they offer against the trend will be even much stronger.

FII & DII Net Purchase / Sales

  • FII: -344.58 CR
  • DII: 10.98 CR

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10800
  • Bank Nifty max pain level currently at 27500

Put Call Ratio

  • Nifty PCR at 1.21
  • Nifty Bank PCR at 1.29.

Max O.I Strikes

  • Nifty: 10500 PE and 11000 CE
  • Bank Nifty: 27500 PE and 27700 CE

FnO Stocks under Ban

  • ADANIPOWER
  • JETAIRWAYS

FnO Earnings to Watch

  • INFY
  • KTKBANK .

Disclaimer: The views expressed by investment expert on https://www.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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