Pre Market Updates: Thursday October 4, 2018
- Yesterday Nifty Metal was the only sectoral Index that managed to end in the green.
- Huge short positions witnessed in Nifty Futures and Bank Nifty Futures
- Huge call writing was witnessed in 11000CE suggest it will be an upper limit for this week.
- India Vix witnessed a spike ending the day 7.6% higher at 18.11 indicates upper side limited.
- FIIs continuing selling
- High crude oil prices, weak rupee and negative sentiments in global markets bring more pressure.
- Nifty set to open gap down more than 80 points.
- Nifty likely to trade in the range of 10700 and 10840
Nifty50 Technical Analysis: Nifty formed a bearish candle on the daily charts
- Strong bearish candle suggests a tight bear grip in the market.
- Nifty max pain level currently at 11100
- Bank Nifty max pain level currently at 25100
Put Call Ratio
- Nifty PCR at 1.15.
- Nifty Bank PCR at 0.63.
Max O.I Strikes
- Nifty: 11500CE and 10500.00PE
- Bank Nifty: 25500CE, 25000 PE