LAST DAY SNAP SHOT:-
The markets closed with significant declines today with metal, infra and capital goods being the worst performers. Europe, too, didn't come to the rescue of the markets and pulled the indices down. The Sensex closed at 16877, down 281 points from its previous close, and the Nifty shut shop at 5118, down 87 points. The CNX Midcap index was down 1.7% while the BSE Smallcap index lost 1.1% in today's trade. The market breadth was negative with advances at 331 against declines of 1106 on the NSE.
CURRENT TECHNICAL SITUATION:-
As per EOD chart NIFTY has moved below 50 days Exponential Moving Average after 32 days today
Bearish gap down Candlestick pattern was formed by NIFTY today Prior to pattern formation the Index is in downtrend.The Index has hit two week low Today. As per RSI and slow stochastic it is in downtrend.
The markets closed with significant declines today with metal, infra and capital goods being the worst performers. Europe, too, didn't come to the rescue of the markets and pulled the indices down. The Sensex closed at 16877, down 281 points from its previous close, and the Nifty shut shop at 5118, down 87 points. The CNX Midcap index was down 1.7% while the BSE Smallcap index lost 1.1% in today's trade. The market breadth was negative with advances at 331 against declines of 1106 on the NSE.
CURRENT TECHNICAL SITUATION:-
As per EOD chart NIFTY has moved below 50 days Exponential Moving Average after 32 days today
Bearish gap down Candlestick pattern was formed by NIFTY today Prior to pattern formation the Index is in downtrend.The Index has hit two week low Today. As per RSI and slow stochastic it is in downtrend.
Nifty has breached today important support of 5183 and closed at 5118. Now immediate support at 5100 level which is 200 DMAand 5060 level. Any two consecutive close below this level price may dip to 4900 level. The nature of fall seems that more dip we may see further.
FIIs sold 20599 contracts worth rs 488.14 cr.and market fall by 87 points down and open interest increased by 15465 contracts indicating fresh short has been created by FIIs into the system.
Nifty 5200 call added 2,642,400 contracts and 5200 put decreased by 1,715,450 shares.
Nifty 5100 call added 2,218,000 shares in open interest and 5100 put added 433,000 shares in open interest. FIIs bought index option worth rs 2918.31 cr. and we have seen huge open interest addition in 5100 and 5200 call. If market hold and take support at 5090 level we may see a good up move before expiry.
We came to this conclusion that aggressively selling has seen today by FIIs and HNI also.
Watch carefully 5090 level tomorrow. If market hold this level then we may see some recovery before expiry otherwise we may dip to 5060-4990 level very soon.
Be in short until nifty is below 5145 level
