NIFTY X-RAY REPORT FOR 16 APRIL.
AS I TOLD YOU ON FRIDAY UNTILL UNLESS NIFTY CLOSE ABOVE 5340 BULL RALLY CANNOT BE CONFIRMED, AND I ALSO TOLD YOU THAT DON'T FRESH BUY. YOU ALL WOULD HAVE SEEN WHAT HAPPEND IN LAST HOUR.
The markets closed with significant declines this week and barring auto, FMCG and healthcare, all sectoral indices closed negative. The Sensex was down 2% and the Nifty also lost 2% during the week. The CNX Midcap index was down 2.8%, the BSE small cap was down 0.6% and the Bank Nifty closed with 0.2% loss over the week.
Nifty 5200 CE added 374550 contracts and 5300 CE added 4634350 contracts in open interest. 5200 PE decreased -284450 and 5300PE decreased --5263000 contracts. 5100 PE added 221250 contracts in open interest. Nifty future closed at 5221.10 and open interest is up by 0.50%.
Conclusion from all data.
Further more weakness is expected but nifty strong support at 5135 spot level. Any close below 5135 we may see a down fall to 4900 level. But It seems Its chances are very low. One can buy nifty future at 5150-5160 level with strict stoploss at 5125. Market would be volattile next week. One day fall and another day rise pattern is expected. Market move will depend on RBI reviews on 17th April. There is a 0.25% rate cut expected in market.
Trade very carefully in next week.
AS I TOLD YOU ON FRIDAY UNTILL UNLESS NIFTY CLOSE ABOVE 5340 BULL RALLY CANNOT BE CONFIRMED, AND I ALSO TOLD YOU THAT DON'T FRESH BUY. YOU ALL WOULD HAVE SEEN WHAT HAPPEND IN LAST HOUR.
The markets closed with significant declines this week and barring auto, FMCG and healthcare, all sectoral indices closed negative. The Sensex was down 2% and the Nifty also lost 2% during the week. The CNX Midcap index was down 2.8%, the BSE small cap was down 0.6% and the Bank Nifty closed with 0.2% loss over the week.
Nifty 5200 CE added 374550 contracts and 5300 CE added 4634350 contracts in open interest. 5200 PE decreased -284450 and 5300PE decreased --5263000 contracts. 5100 PE added 221250 contracts in open interest. Nifty future closed at 5221.10 and open interest is up by 0.50%.
Conclusion from all data.
Further more weakness is expected but nifty strong support at 5135 spot level. Any close below 5135 we may see a down fall to 4900 level. But It seems Its chances are very low. One can buy nifty future at 5150-5160 level with strict stoploss at 5125. Market would be volattile next week. One day fall and another day rise pattern is expected. Market move will depend on RBI reviews on 17th April. There is a 0.25% rate cut expected in market.
Trade very carefully in next week.
