Consecutive six days red candle stick pattern has seen on daily chart. As per nifty chart shown below 5965-5950 is good support for nifty on Daily chart according to wave theory. Fiis sold index future worth Rs. 710.33 cores and open interest increased in index future by 4.7% indicating short position has been made by Fiis. Fiis bought 856 cores in cash market segment.
Nifty 6000 call added 1,36,450 contracts in open interest and 6000 put added 356,750 contracts and it is standing with highest open interest on the put side. Indicating volatile move between 5900 and 6000 strike.
Long term trend line support is coming around 5935 and this trend line will decide the further trend in our Indian market. If support taken smart V shape recovery is expected in our market. Put call ratio is at 0.90 indicating that it is near its reversal level from where it generally reversed. tomorrow will be crucial day for nifty for trend setup. Fiis made long position in stocks future worth rs 376.61 cores.
positional buy nifty around 5951-65 (spot) keep strict stoploss at 5930 (spot) and fix target according to your hunger.
More details to our subscribers.................
