The market gave surprise fall and surprise hike in nifty price in today's session. As the news came flashed in morning session of money laundering of Banks nifty fell sharply below 5700 also but soon it recovered from morning loss. Winners enjoyed rally to much and Nifty closed at 5908.95 with PSU Bank was the best performer in today's trade. The Sensex closed at 19570.43, up 207.88 points from its previous close, and the Nifty closed at 5908.95, up 57.75 points. The CNX Midcap index was up 0.79% while the CNX Smallcap index gained only 0.12% in today's trade. The market breadth was positive with advances at 546 against declines of 518 on the NSE. The Bank index was up by 2.07% in last session and closed at 12020.75. Maruti jumped 3.55% highest on nifty 50 group while Bajaj Auto was the biggest looser with -2.22% in last session.
Nifty closed with highly positive sentiment up 0.99% in Last session. As per nifty Relative Strength Indicator (RSI), it is in highly positive zone. The recent price pattern on nifty daily chart had given trend reversal from 5663 with improving RSI towards upside in near term and it seems that nifty has made strong base near 5700. Nifty fell below today 5700 but soon it recovered fastly. stock may give more rise from here in near future. Nifty was in short term down trend till Monday but now it is in short term up trend. Nifty closed yesterday below 20 day moving avrages but soon it came above 20 DMA today and gave a positive signal. A good Bullish Candlestick pattern has formed on NIFTY EOD chart in last session Prior to pattern formation this Index was in short term downtrend. As per slow stochastic , NIFTY is in sell mode.
Nifty 5700 put highest open interest push nifty up very soon today and it didn't give allowance to remain it below 5700 level. Today in morning session 5800 and 5900 call added more than 12 lakh fresh open interest but in latter half all the open interest addition disappeared and finally 5900 call decreased more than 6 lakh fresh open interest indicating possibilities in near term. As nifty was up by 57 points and open interest decreased from in 5900 and 5800 call indicating strength towards upside after continuing down three days short term down trend. Put call ratio is at 1.18 indicating for bull trend.
FIIs bought index future worth Rs. 45.43 cores and open interest decreased by 2.7%, as nifty future was up by 57 points and open interest decreased indicating that FIIs have covered their shorts.
LAST HIGH - 5920 LAST LOW - 5791.75
WEEKLY HIGH - 5971 WEEKLY LOW - 5791.75
5 DMA DAILY - 5912
20 DMA DAILY- 5846
WEEKLY HIGH - 5971 WEEKLY LOW - 5791.75
5 DMA DAILY - 5912
20 DMA DAILY- 5846
50 DMA DAILY- 5938
200 DMA DAILY- 5588200DMA@5563
Nifty is in up trend in very short term view. I gave you recommendation today before market open today that
GO LONG IN NIFTY AT 5830-20 SPOT PRICE KEEP STOPLOSS AT 5790 TARGET EXPECTED 5890-5920.
As per Today's session nifty has given a very volatile and heart breaking session. There is a big resistance around 5970 level if nifty cross and sustained this time minmum 200 points rally we may see in nifty. Trend is buy on dip mode in short term point of view.
In short short term and mid term bias will remain positive. As per impulse in price pattern and open interest data suggesting that nifty is ready to make new high in march series. Me and my subscribers have minted money in todays session and given you a free recommendation on nifty today. I hope that you all would have made money with this my recommendation. As per price pattern with impulse seems that we may see more surprising move very soon. 6184 and 6284 is on the way.
Short term stoploss for long trade at 5830 spot price
Target expected - 5970 if broken then 6080.
Target expected - 5970 if broken then 6080.
Click on chart below for its larger view.
A FANTASTIC FABULOUS PROGRAMME BY NIFTY EYES MULTILEVEL MONEY MAKING CLUB IS GOING TO LAUNCH FROM TOMORROW. INFORMATION WILL BE PUBLISHED AT 12 MID NIGHT.
