LAST DAY SNAP SHOT:-
The markets gained significantly on the second consecutive day with auto, IT, banking and realty leading the rally. Capital goods, FMCG and power, too, gained significantly while healthcare and oil & gas closed negative. The Sensex closed at 17602, up 189 points from its previous close, and the Nifty shut shop at 5337, up 54 points. The CNX Midcap index was up 0.1% while the BSE SMALLCAP BSE Smallcap index gained 0.4% in today's trade. The market breadth was positive with advances at 785 against declines of 642 on the NSE.
CURRENT TECHNICAL SITUATION:-
Since so many days I was saying that a good great rally is awaiting in Indian market, but you did not believed. Market is rising everyday and bears are eagerly waiting for 50 points even in their hands. Bulls are not going to give him even 50 points to bears. Nifty has hit three months high today. And I told you about 5217 factor I think you have remember all this my written, that if Nifty close above 5217 expect multi month bull rally ahead and 6000 level very soon.
As per fast stochastic , on daily charts NIFTY is in over bought range with a value of 95.78. As per slow stochastic , on daily charts NIFTY is in over bought range with a value of 95.78. As per RSI indicators it is placed in strong bullish zone.
Just see first what I written yesterday
"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".
Just see below and remind it I have written on 1 august.
"5250-5260 will act as a minor resistance now, after that 5300 level will act as seven month trend line resistance. any two close above 5300 nifty will fly to 5445 level very soon".
I expect 5400 level tomorrow.
Now lets consider data.
The markets gained significantly on the second consecutive day with auto, IT, banking and realty leading the rally. Capital goods, FMCG and power, too, gained significantly while healthcare and oil & gas closed negative. The Sensex closed at 17602, up 189 points from its previous close, and the Nifty shut shop at 5337, up 54 points. The CNX Midcap index was up 0.1% while the BSE SMALLCAP BSE Smallcap index gained 0.4% in today's trade. The market breadth was positive with advances at 785 against declines of 642 on the NSE.
CURRENT TECHNICAL SITUATION:-
Since so many days I was saying that a good great rally is awaiting in Indian market, but you did not believed. Market is rising everyday and bears are eagerly waiting for 50 points even in their hands. Bulls are not going to give him even 50 points to bears. Nifty has hit three months high today. And I told you about 5217 factor I think you have remember all this my written, that if Nifty close above 5217 expect multi month bull rally ahead and 6000 level very soon.
As per fast stochastic , on daily charts NIFTY is in over bought range with a value of 95.78. As per slow stochastic , on daily charts NIFTY is in over bought range with a value of 95.78. As per RSI indicators it is placed in strong bullish zone.
Just see first what I written yesterday
"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".
Just see below and remind it I have written on 1 august.
"5250-5260 will act as a minor resistance now, after that 5300 level will act as seven month trend line resistance. any two close above 5300 nifty will fly to 5445 level very soon".
I expect 5400 level tomorrow.
Now lets consider data.
FIIs bought index future worth rs 676.87cr and nifty close 54 points up with net open interest increasing with 3.3% , indicating clearly that fresh long has been made by fIIs today also. Intension is clear that they are highly bullish over indian market.
Nifty 5300 put added 1,760,600 shares
Nifty 5200 put added 1,302,250 shares
Nifty 5100 put added 1,282,400 shares and,
Nifty 5400 put added 1,047,650 shares
Total put added 5,392,900 shares in just four strike price.
Huge put writting has seen today. indicating blasting rally is ahead.
Nifty 5500 call added 922,650 shares in open interest, indicating that 5500 level will act obstacle for bulls further.
5424 and 5500 level is very soon. There may be a little correction of 100-150 points from around 5400-5424 level.Any two close above 5424 nifty will fly to 5600 level in few days.
watch this level very care fully.
Enjoy rally.
Good Luck.
