LAST DAY SNAP SHOT:-
Led by RIL, the markets gained significantly today and barring FMCG and IT, all sectoral indices closed positive. Strong US job data, too, played its role in pulling the indices up. Oil & gas, auto, banking and capital goods were the biggest gainers in today's session and realty and metal, too, supported the indices well. The Sensex closed at 17413, up 215 points from its previous close, and the Nifty shut shop at 5283, up 67 points. The CNX Midcap index was up 0.6% while the BSE Small cap index gained 0.8% in today's trade. The market breadth was positive with advances at 903 against declines of 543 on the NSE.
CURRENT TECHNICAL SITUATION:-
Bullish gap up Candlestick pattern has formed today on Nifty daily EOD charts and it has closed above two week high. As per fast stochastic ,NIFTY is in over bought range with a value of 95.91641104294493 NIFTY is in over bought range with a value of 95.91. As per slow stochastic on daily charts it is in over bought range with a value of 95.91. As per RSI on daily chart it is in strong bullish range with a value of 66.77. All these indicators indicating up move further.
FIIs bought 10894 contracts of Nifty future worth Rs 381.26 crores and open interest increased by 0.6% and price up by 55 points indicating that FIIs have made fresh long today.
Nifty 5300 put added highest 1,444,200 shares in open interest indicating that 5300 put has been written and bulls are ready to take nifty above 5300 level for next session. Nifty 5400 call added 1,110,650 shares in open interest indicating that Nifty will face immediate resistance around 5400 level.
AS per charts analysis If Nifty close above 5330 bull will take this move up to 5440 further. 5330 level will act as strong resistance for next session.
Any dip below 5255 spot level nifty may slip to 5217 level in few hours only.
Led by RIL, the markets gained significantly today and barring FMCG and IT, all sectoral indices closed positive. Strong US job data, too, played its role in pulling the indices up. Oil & gas, auto, banking and capital goods were the biggest gainers in today's session and realty and metal, too, supported the indices well. The Sensex closed at 17413, up 215 points from its previous close, and the Nifty shut shop at 5283, up 67 points. The CNX Midcap index was up 0.6% while the BSE Small cap index gained 0.8% in today's trade. The market breadth was positive with advances at 903 against declines of 543 on the NSE.
CURRENT TECHNICAL SITUATION:-
Bullish gap up Candlestick pattern has formed today on Nifty daily EOD charts and it has closed above two week high. As per fast stochastic ,NIFTY is in over bought range with a value of 95.91641104294493 NIFTY is in over bought range with a value of 95.91. As per slow stochastic on daily charts it is in over bought range with a value of 95.91. As per RSI on daily chart it is in strong bullish range with a value of 66.77. All these indicators indicating up move further.
FIIs bought 10894 contracts of Nifty future worth Rs 381.26 crores and open interest increased by 0.6% and price up by 55 points indicating that FIIs have made fresh long today.
Nifty 5300 put added highest 1,444,200 shares in open interest indicating that 5300 put has been written and bulls are ready to take nifty above 5300 level for next session. Nifty 5400 call added 1,110,650 shares in open interest indicating that Nifty will face immediate resistance around 5400 level.
AS per charts analysis If Nifty close above 5330 bull will take this move up to 5440 further. 5330 level will act as strong resistance for next session.
Any dip below 5255 spot level nifty may slip to 5217 level in few hours only.
