LAST DAY SNAP SHOT:-
The markets closed with moderate gains today and barring healthcare and oil & gas, all sectoral indices closed positive. Capital goods and metal remained the best performers and auto, too, made significant gains afterBajaj Auto announced its numbers. Retail sector gained on the back of expectations that some positive move may come from the government on FDI, while PSU banks traded negative. The Sensex closed at 17185, up 80 points from its previous close, and the Nifty shut shop at 5216, up 23 points.
CURRENT TECHNICAL CONDITION:-
Nifty has hit two week low today and Three black crows Candlestick pattern has formed on daily chart yesterday. NIFTY has moved below 20 days Exponential Moving Average after 28 days on 16/07/2012
As per stochastic Indicator, NIFTY was in over bought level. and indicating reversal in trend any day. As per Relative Strength Indicator (RSI) , it was taken support at 50 level. and If prices move from here a good rally may come in near term.
Fii sold index future worth rs 272.75 and market up by 23 points and open interest decreased by 2% indicating shorts have been covered today.
Nifty 5200 call open interest decreased by 269,450 shares and 5200 put added 366,800 shares in open interest, indicating 5200 put have been written today on high price. Nifty 5300 call has high open interest on the call side which is indicating that 5300 level will create resistance in near term.
Since so many days I have been saying that market may reverse and a good green rally is awaiting for Indian market, but you people are useless keeping your heart beat fast. I am again saying that we may see 6000 level in next two three months.
Any close above 5255 or any jump with force in intraday we may see 5290- 5304 level in hours only. However nifty today closing is a good sign for market. Again I would like to write today which i have been written in my previous post also, that I highly expect july expiry around 5400 or above 5400.
Any positional holding around 5200 level in nifty future may give you a smart reward in two three months.
The markets closed with moderate gains today and barring healthcare and oil & gas, all sectoral indices closed positive. Capital goods and metal remained the best performers and auto, too, made significant gains afterBajaj Auto announced its numbers. Retail sector gained on the back of expectations that some positive move may come from the government on FDI, while PSU banks traded negative. The Sensex closed at 17185, up 80 points from its previous close, and the Nifty shut shop at 5216, up 23 points.
CURRENT TECHNICAL CONDITION:-
Nifty has hit two week low today and Three black crows Candlestick pattern has formed on daily chart yesterday. NIFTY has moved below 20 days Exponential Moving Average after 28 days on 16/07/2012
As per stochastic Indicator, NIFTY was in over bought level. and indicating reversal in trend any day. As per Relative Strength Indicator (RSI) , it was taken support at 50 level. and If prices move from here a good rally may come in near term.
Fii sold index future worth rs 272.75 and market up by 23 points and open interest decreased by 2% indicating shorts have been covered today.
Nifty 5200 call open interest decreased by 269,450 shares and 5200 put added 366,800 shares in open interest, indicating 5200 put have been written today on high price. Nifty 5300 call has high open interest on the call side which is indicating that 5300 level will create resistance in near term.
Since so many days I have been saying that market may reverse and a good green rally is awaiting for Indian market, but you people are useless keeping your heart beat fast. I am again saying that we may see 6000 level in next two three months.
Any close above 5255 or any jump with force in intraday we may see 5290- 5304 level in hours only. However nifty today closing is a good sign for market. Again I would like to write today which i have been written in my previous post also, that I highly expect july expiry around 5400 or above 5400.
Any positional holding around 5200 level in nifty future may give you a smart reward in two three months.
