Traders Hoping To Stay Positive Bias 0 1319

Pre Market Updates Wednesday January 09, 2019
Nifty levels

Positive Points:

  • Bank Nifty contracts witnessed a huge surge in opening interest, mainly fresh long positions.

Negative Points:

  • Brent surges 1% to $59.48/bbl on OPEC output cuts. Further, hopes over truce in the trade war between the US and China also kept oil prices elevated.
  • Indian Rupee depreciates 53 paise to 70.21/$.


  • Banking & financials, auto, metals and pharma stocks supported the Nifty 50.
  • Metal index is currently at a good support level from where a bounce cannot be ruled out, also is the case with sugar stocks which seems to be in the new round of momentum.
  • PSU banks remained in limelight. Nifty Bank rose more than 200 points on account of improving NPA resolution along with capital infusion.
  • January is seeing good participation by Institutions and markets showing upward trend.
  • Traders hoping to stay positive bias as long as Nifty50 trades above 10700 on a closing basis.
  • Nifty likely to face resistance at 10960 and support at 10820.

Nifty50 Chart Analysis:  Hammer candle

  • Nifty formed Hammer candle on the daily charts.
  • Trend reversal patterns
  • The bears have lost control.

FII & DII Net Purchase / Sales

  • FII: -553.78 CR
  • DII: 698.17 CR

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10800
  • Bank Nifty max pain level currently at 27400

Put Call Ratio

  • Nifty PCR at 1.16
  • Nifty Bank PCR at 1.32.

Max O.I Strikes

  • Nifty: 10500 PE and 11000 CE
  • Bank Nifty: 27200 PE and 28000 CE

FnO Stocks under Ban


FnO Earnings to Watch


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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