Nifty closed on high note @ expiry day. Market opened flat to negative and rallied afternoon with huge volumes. Nifty rollover was good. IT index and bankex was unstoppable which gave fuel to bulls and Metal Index not done well. Volume was seen huge in many frontline counters.So as we are stepping into new series we need to watch market carefully .
INSTITUTIONAL ACTIVITY :: FII (+367 cr) ::: DII (-287 cr)
- NIfty future ended 1.50 premium
- 4500 PE and 4700 CE have more Open Interest
- India VIX closed @ 37.59 vs 37.33
- US/Europe Markets closed 1% up
- FII's whre net buyers in stock futures
Technical View ::
Nifty trading in a channel and 4627 giving solid resistance. Once close above that level will again lead for fresh upside run.EMA 20 giving solid support. Hourly charts are bullish with 4380 support. RSI2 entering bulls zone again. MACD above zero is bullish sign. Decline ADX suggest no strength in market and +DI is abov - DI suggest Market will be sideways with Positive bias until ADX hooks up. 4540 and 4627 Important levelz to watch today.
Levels ::
Nifty Fut Supp @ 4519 :: Res @ 4626
Bearish > 4514 < Bullish
4546 - 4564 - 4586 - 4600
Happy trading !!!!
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