We Expect a Modestly Positive and Stable Start 0 1371

Pre Market Updates: Monday October 9, 2018
Nifty levels
  • Yesterday extremely volatile trading session with Nifty witnessing wild swings between 10,200 and 10,400 levels.
  • The current oversold levels that the Nifty saw today along with the VIX are the ones that are not seen in past couple of years.
  • We expect a modestly positive and stable start.
  • Yesterday low of 10,198 is now expected to act as a base and within that broad range, we expect the market to consolidate.
  • We expect pullback attempts to continue and recommend cautiously positive view for today.
  • Any additional positions more so on the short sides should be avoided.
  • Nifty likely to face resistance at 10500 and Support at 10200

Nifty50 Chart Analysis:  Nifty formed a Hammer like candle on charts

  • Hammer patterns are trend reversal patterns

So what is a Hammer candlestick pattern trying to tell you?

  • A downtrend has occurred, and the bears push that downtrend even lower. However, the bulls then step in, driving the price back up.
  • The bears have lost control.

FII & DII Net Purchase / Sales

  • FII -1,805.07
  • DII 1,973.97

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10800
  • Bank Nifty max pain level currently at 24600

Put Call Ratio

  • Nifty PCR at 1.12 versus 1.07.
  • Nifty Bank PCR at 0.79 versus 0.71.

Max O.I Strikes

  • Nifty: 11000CE and 10000.00PE
  • Bank Nifty: 25500CE, 24000 PE

FnO Stocks under Ban

  • IDBI

Earnings to Watch

  • Infomedia Press
  • R S Software.
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
Send this to a friend