We Expect a Modestly Positive and Stable Start 0 1371

• 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.