Nifty Trend Will Favor Bears 0 1644

Pre Market Updates: Tuesday September 04
Nifty levels


  • 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.

Put Call Ratio

  • Nifty PCR at 1.47 versus 1.55.
  • Nifty Bank PCR at 0.74 versus 0.98 .

Max O.I Strikes

  • Nifty: 11800CE, 11600PE
  • Bank Nifty: 28200CE , 27700PE


  • Rupee closed at 71.21/$ on Monday from 70.99/$ on Friday

Earnings to Watch

  • Muthoot Finance
  • Easun Reyrolle
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
Send this to a friend