NIFTY closed at 5293.
As I told you that nifty will give respect at least on 200 DMA one time and it should not fall directly. It reversed smartly from around 200 DMA and closed at 5293 level.
As per slow stochastic indicator, S&P CNX NIFTY was in over sold level. However, recent price moves on 30/03/2012 indicates trend reversal and stock may rise upto 5365 in near future. Why 5365 level only why not 5400-5500-5600 again. Yes my dear there is a reason behind this. 5365 is a 61.8% retresment level and option data is in favoring with this level.
Bullish gap up Candlestick pattern has formed on S&P CNX NIFTY chart on 30/03/2012
But now the question is that will this rally be continue. As per chart it is showing trend reversal of last six week falling trend, but data is indicating something. Until unless Nifty close above 5440 rally cannot be confirmed. RSI has given a breakout on its falling trend line, nifty can move up in near term. Further I see stretch up to 5365 in Nifty. Maximum stretch up to 5440. Investors should be alert around 5365 level and there will be no trading zone between 5365-5440 level. From there a fall upto 4950-4900 is much awaited on charts.
yesterday 5300 CE added 101750 shares in open interest and 5300 PE added 666700 shares in open interest. will create a resistance for nifty. When market was open on Friday in morning 5300 CE IV was greater than 5300 PE IV, but at the end of session 5300 PE IV was greater than CE IV.
Highest open interest seen in 5000PE and 5400 CE Indicating a trading range for April session. INDIA volatility index chart suggesting the same expected range for April session.
According to current local political situation market will be volatile again like march series.
Fii activity in equity market +962.65cr
Fii activity in future market -500.67cr
Dii activity in equity market -167.32cr
SEE THE CHART BELOW FOR CONFIRMATION
As I told you that nifty will give respect at least on 200 DMA one time and it should not fall directly. It reversed smartly from around 200 DMA and closed at 5293 level.
As per slow stochastic indicator, S&P CNX NIFTY was in over sold level. However, recent price moves on 30/03/2012 indicates trend reversal and stock may rise upto 5365 in near future. Why 5365 level only why not 5400-5500-5600 again. Yes my dear there is a reason behind this. 5365 is a 61.8% retresment level and option data is in favoring with this level.
Bullish gap up Candlestick pattern has formed on S&P CNX NIFTY chart on 30/03/2012
But now the question is that will this rally be continue. As per chart it is showing trend reversal of last six week falling trend, but data is indicating something. Until unless Nifty close above 5440 rally cannot be confirmed. RSI has given a breakout on its falling trend line, nifty can move up in near term. Further I see stretch up to 5365 in Nifty. Maximum stretch up to 5440. Investors should be alert around 5365 level and there will be no trading zone between 5365-5440 level. From there a fall upto 4950-4900 is much awaited on charts.
yesterday 5300 CE added 101750 shares in open interest and 5300 PE added 666700 shares in open interest. will create a resistance for nifty. When market was open on Friday in morning 5300 CE IV was greater than 5300 PE IV, but at the end of session 5300 PE IV was greater than CE IV.
Highest open interest seen in 5000PE and 5400 CE Indicating a trading range for April session. INDIA volatility index chart suggesting the same expected range for April session.
According to current local political situation market will be volatile again like march series.
Fii activity in equity market +962.65cr
Fii activity in future market -500.67cr
Dii activity in equity market -167.32cr
SEE THE CHART BELOW FOR CONFIRMATION
