Nifty Marking A Potential Base At Current Levels 0 1497

Pre Market Updates: Wednesday October 10, 2018
Nifty levels

Negative Points:

  • Rupee makes a new low
  • Oil prices edge lower
  • Asian stocks began Wednesday mixed following a volatile session for U.S. equities.

Positive Points:

  • Nifty from record highs equity fund folio addition has boosted domestic mutual fund industry helping it register over 13.20 lakh more investor accounts in September, SEBI data shows.
  • Higher volatility suggests a bear grip, but a cool off in VIX with a topping-out formation could result in a short-term bottom.


  • Nifty marking a potential base at current levels.
  • Usually, when lead indicators get oversold, by the time they rise and give a buy signal, the prices usually tend to consolidate and oscillate in a capped range with some volatility. This seem to be happening in case of Nifty.
  • Nifty is trading in a broad range with the 10,198 expected to act as major support for Nifty.
  • Nifty likely to face resistance at 10440 and Support at 10240

Nifty50 Chart Analysis:  Bearish Engulfing

  • Nifty formed bearish candle formation on the daily charts resembling a Bearish Engulfing pattern.
  • It is a reversal candlestick pattern which is bearish in nature and appears at the end of an uptrend. It is a complex pattern made of two candle lines. The first candle is bullish in nature and the second is bearish in nature.

FII & DII Net Purchase / Sales

  • FII:-1242 Cr
  • DII: +1526 Cr

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10700
  • Bank Nifty max pain level currently at 24600

Put Call Ratio

  • Nifty PCR at 1.11 versus 1.12.
  • Nifty Bank PCR at 0.73 versus 0.76.

Max O.I Strikes

  • Nifty: 11500CE and 10500.00PE
  • Bank Nifty: 25000CE, 24000 PE

FnO Stocks under Ban

  • IDBI

Earnings to Watch

Wednesday, October 10, 2018

  • Cera Sanitaryware Ltd
  • Gallantt Ispat
  • Indiabulls Ventures
  • Uttam Galva Steels
  • Zee Entertainment

Thursday, October 11, 2018

  • Bajaj Corp
  • G M Breweries Ltd
  • Tata Consultancy

Friday, October 12, 2018

  • 3i Infotec
  • Hindustan Unilever
  • Karnataka Bank
  • TV18 Broadcast
  • Tata Sponge Iron
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