Upside May Extend 0 1333

Positive Points:

• Banks and non-banking financial companies (NBFCs) doing well on hope of new RBI governor may do favor for them.
• China appeared to be taking more steps to meet US demands to open its markets.
• Brexit, relief after British Prime Minister Theresa May survived a no-confidence vote

Negative Points:

• Rupee declined by 16 paise to close at 72.01 against the US dollar.

Outlook:

• India Vix ended 10.1% lower at 16.1% suggest that bear taking control and upside may extend
• Last two session Nifty made a spectacular rally, moved up around 400 points form its recent low.
• There is a possibility that it can undergo some profit booking in next one or two sessions
• Trends on SGX Nifty indicate a positive opening us and likly to test 10800 marks today.
• Nifty should close above 10800 to reach 11000 marks.
• Today Bank Nifty weekly expiry may bring some volatility to Banking stock.
• Nifty likely to face resistance at 10820 and support at 10640.

Nifty50 Chart Analysis:  Bullish Candle

• Nifty formed bullish candle on the daily charts.

FII & DII Net Purchase / Sales

• FII: -1,299.43 CR
• DII: 1,121.29 CR

Options Data Tracking

Max Pain

• Nifty max pain level currently at 10650
• Bank Nifty max pain level currently at 26500

Put Call Ratio

• Nifty PCR at 1. 22
• Nifty Bank PCR at 1.

Max O.I Strikes

• Nifty: 10000 PE and 11000 CE
• Bank Nifty: 26300 PE and 27000 CE

FnO Stocks under Ban

• ADANIENT
• ADANIPOWER

FnO Earnings to Watch

• Nill

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