Pre Market Updates: Monday September 03
- Friday I could not write blog as I was in travel.
- Asian stocks mixed mostly negative bias.
- SGX indicating lower opening for us.
- Pharma and IT companies doing better after the rupee depreciated past 71 per dollar, its lowest level against the dollar.
- Markets will react to June quarter GDP data which came out post market hours on Friday.
- Infrastructure and Auto stocks in focus as GDP numbers are in line with a high-frequency data with these sectors.
- Nifty may to trade between 11640 and 11740.
Nifty50 Yearly Analysis: Slow Steady Strong
- Nifty closed higher highs in the August month charts. This is happen after January 2018.
- Nifty managing to close at 11680 in the August series, after hitting yearly low of 9950 in March 2018.
- Nifty recovered almost 750 points from March low in six months of time frame.
- Nifty breadth, indicating the overall health of the market, ‘Slow Steady Strong’.
- January high 11170 marks would be the key support levels for 2018.
Nifty50 Technical Analysis: Candlestick Chart
Nifty forms a Long Legged Doji on Friday.
Put Call Ratio
- Nifty PCR at 1.55 versus 1.57
- Nifty Bank PCR at 0.98 versus 1.00
Max O.I Strikes
- Nifty: 11800CE, 11600PE
- Bank Nifty: 28500CE , 28000PE
