- Volatility index corrected sharply by 18.45 percent last week to 15 levels while put-call ratio moved up from 1.30 to 1.53 levels.
- Decline in volatility with a surge in PCR suggests that supports are shifting higher and a small follow up move could drive the up move.
- Nifty and Bank Nifty Futures witnessed a marginal rise in open interest indicating a buildup of fresh long positions.
- The rupee depreciated for the second consecutive week.
- Nifty likely to continue the short term bullish momentum.
- Nifty may trade in a narrow range
- Asian markets trade mixed amid cautious sentiment after US shares tank
- All eyes on the US Fed meet this week
- Trading volume is expected to reduce for the next couple of weeks, especially after the Federal Reserve policy meeting and the Christmas-and-New Year vacation.
- One crucial event which is lined up for this week is the US Fed meeting, which will begin from December 18.
- Nifty likely to face resistance at 10900 and support at 10760.
Nifty50 Chart Analysis: Hanging Man Candle
- Nifty formed Hanging Man candle on the daily charts.
- Hanging Man belongs to the bearish reversal patterns group.
FII & DII Net Purchase / Sales
- FII: 94 CR
- DII: -302.52 CR
- Nifty max pain level currently at 10700
- Bank Nifty max pain level currently at 26800
- Nifty PCR at 1. 30
- Nifty Bank PCR at 1.
- Nifty: 10000 PE and 11000 CE
- Bank Nifty: 26500 PE and 27000 CE
- ADANIENT
- ADANIPOWER
- JETAIRWAYS
- RELCAPITAL
- Nill
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