Technical Pullback To Continue 0 1159

Pre Market Updates Wednesday December 12, 2018
Nifty levels

Positive Points:

  • The Reserve Bank will infuse Rs 10,000 crore into the market through open market operations (OMOs) on December 13.
  • Nifty and Bank Nifty Futures witnessed a surge in open interest, mainly fresh long positions
  • India Vix ended the day 12.21% lower at 17.94%.

Negative Points:

  • Federal Reserve meeting next week.


  • Yesterday, short covering amid the outcome of polls in five states and impact of Urjit Patel’s resignation as RBI Governor.
  • Shaktikanta Das, member of the 15th Finance Commission and former Economic Affairs Secretary, will take over as the new Reserve Bank of India (RBI) Governor, the government said on December 11.
  • Technically, much of the Tuesday’s rally could be on the back of short coverings but for bulls to take control
  • Nifty recovered around 250 points from the day’s lows and managed to closed at higher point of the day, expect this technical pullback to continue.
  • A sharp cut in VIX post the result day suggests the market could be headed for a consolidation, but it has to go down below 17-16 levels to again attract buying interest
  • Downside, Nifty made a low of 10333 levels and as of now, this would act as a support for the time being which if broken can retest the 10000 levels for rest of the series.
  • Nifty likely to face resistance at 10640 and support at 10440.

Nifty50 Chart Analysis:  Bullish Candle

  • Nifty formed bullish candle on the daily charts.

FII & DII Net Purchase / Sales

  • FII: -2,421.06 CR
  • DII: 2,255.68 CR

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10600
  • Bank Nifty max pain level currently at 26100

Put Call Ratio

  • Nifty PCR at 1. 04
  • Nifty Bank PCR at 1.4.

Max O.I Strikes

  • Nifty: 10000 PE and 11000 CE
  • Bank Nifty: 25000 PE and 27000 CE

FnO Stocks under Ban


FnO Earnings to Watch

  • Nill

Disclaimer: The views expressed by investment expert on are his own and data available from advises users to check with certified experts before taking any investment decisions.

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