Nifty opened Gap down on Friday on weak global cues and managed to hold 4400 support. Strong buying witnessed in noon session which made nifty cross 4500 mark again, Nifty mad a 38 point loss last week.FII's again on their buying hunt. Will it Remain>? lets see.
INSTITUTIONAL ACTIVITY :: FII (533 cr) ::: DII (+96 cr)
- Nifty ended in premium of 7.40 vs premium of 2.60 cost of carry increased.
- Nifty Put Call Ratio Open Interest @ 1 vs 1.o9
- 4300 PE and 4600 CE added more Open Interest suggest 4300 will not be taken this expiry
- India Vix closed @ 38.51 vs 36.83 with increase 4.56% change suggest market instability
- US and Europe markets closed Positive
Nifty Took support @ 4385 and made a comeback above 4500 on friday. As expiry week market will be volatile and range bound so trade cautiously. Still Nifty in Range without Breakout @ Expiry day I am expecting a Breakout for next series. Today Final hour will tell us where nifty gonna sail from hereon.4585 will act as reversal level so watch that . Weekly Resistance @ 4670 and Support @ 4419.Today Below 4515 nifty will do 4485/4450. Above 4548 Nifty will do 4568/4585. Safe traders wait for Breakout.
Levels ::
Nifty Fut Supp @ 4453 :: Res @ 4618
Bearish > 4415 < Bullish
Positional Picks ::
AIAENG
ASTRAMICRO
NITCO
RUCHIINRA
UNICHEMLAB
YESBANK
Happy Trading!!!!
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