LAST DAY SNAP SHOT:-
The markets closed with moderate gains today with defensive sectors like FMCG and consumer durables being the biggest gainers. Banking and oil & gas lost significantly while realty and capital goods closed with moderate declines. The Sensex closed at 16991, up 23 points from its previous close, and the Nifty shut shop at 5149, up 7 points. The CNX Midcap index was up 0.04% while the BSE Smallcap index gained 0.2% in today's trade. The market breadth was positive with advances at 739 against declines of 689 on the NSE.
CURRENT TECHNICAL SITUATION:-
Market playing snack and ladder game between 5100 to 5200, but the game is going to over very soon. Technical remain same as was in previous session. But picture is going to clear very soon, most probably it will clear on friday session. Any close below 5106 we will see the touching of 50 SMA support which is currently at 5046 level. India vix is almost at support level waiting for bounce back.
Nifty 5300 call added 1,247,150 shares in open interest today standing highest open interest in call side. Nifty 5000 put added 1,842,750 shares in open interest, standing with highest open interest in put side. Indicating clearly the range of july series further. Nifty up by 7.25 points at 5149.15 and 5200 call price at 77.80, closed at -7.05 and open interest added 581,000 shares. Nifty price up 5200 call price down and open interest increased by 581,000 shares, indicating that calls have been written today. Now see the put side. Nifty 5100 put closed at 92.70 up by 9.70 and open interest increased by 949,650 shares while market is up by 7 points. According to nature call price should increased and put price should decreased but it happen just opposit. This data is indicating puts have been buying aggressively today and calls have been written. Indicating down move for next session. Nifty 4700 and 4800 put open interest have been added huge number of shares with price rising in opposite trend.
Long players need to be cautious at this time. Any close below 4995 on weekly basis can worsen the sentiment on bulls expectation. I highly expect that we will see 5046 level till next week. FIIs sold 1112.63 crores in cash market today which is highest selling in last two months indicating that FIIs are now in mood to sell.
Friday session will confirm the next trend.
