Pre Market Updates: Tuesday September 04
- Asian stocks were trading lower.
- US markets closed yesterday.
- SGX Nifty indicates a flat opening for Indian markets.
- Yesterday markets slips by a mix of negative global cues and also affected by the Indian rupee hitting a record low and rising crude oil prices.
- Monday trade indicating the overall health of the market, turned negative from positive.
- India Vix index witnessed a huge spike closing 6.29% higher at 13.36 levels. So markets may trade with more volatility in coming days.
- Heavy call writing was witnessed in with 11700CE and 11800CE which is indicating 11750 would be the crucial resistance for September series as of now.
- Trend will favor bears, as long as Nifty trades below 11,750.
- Nifty may trade between 11540 and 11640.
Nifty50 Technical Analysis: Candlestick Chart
- Nifty50 formed a bearish engulfing candlestick pattern indicating near term correction in the markets.
- The Bearish Engulfing Candlestick Pattern is considered to be a bearish reversal pattern, usually occurring at the top of an uptrend.
- Nifty PCR at 1.47 versus 1.55.
- Nifty Bank PCR at 0.74 versus 0.98 .
- Nifty: 11800CE, 11600PE
- Bank Nifty: 28200CE , 27700PE
- Rupee closed at 71.21/$ on Monday from 70.99/$ on Friday
- Muthoot Finance
- Easun Reyrolle
