The market opened gap down yesterday at 5816 but a able to closed above open price. The Sensex closed at 19293.19, down 134.36 points from its previous close, and the Nifty closed at 5835.25, down 37.35 points. The CNX Midcap index was down 0.32% while the CNX Smallcap index loosed only 0.71% in yesterday's trade. The market breadth was negative with advances at 335 against declines of 723 on the NSE. The Bank index was down by 0.69% in last session and closed at 11735.50. Cipla jumped 2.15% highest on nifty 50 group while Coal India was the biggest looser with -5.72% in last session.
Nifty closed with highly negative positive sentiment down 0..64% in Last session. As per nifty Relative Strength Indicator (RSI), it has turned downwards and giving negative signal below 50 level . The recent price pattern on nifty daily chart had given trend reversal from 5971 with decreasing RSI towards downside in near term and nifty has made strong resistance near 5971. Nifty fell below today 20 day moving average giving negative signal. As per our yesterday trade 5800 acted as strong support and bulls protected theses level. Nifty is in short term down trend and bearish gap down 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 may give support nifty. Nifty 5800 call added 5.78 lakh fresh open interest in yesterday's session and 5800 put added 4.52 lakh fresh open interest indicating volatile move around this level. Put call ratio is at 1.15 indicating bullish sentiment.
Nifty closed with highly negative positive sentiment down 0..64% in Last session. As per nifty Relative Strength Indicator (RSI), it has turned downwards and giving negative signal below 50 level . The recent price pattern on nifty daily chart had given trend reversal from 5971 with decreasing RSI towards downside in near term and nifty has made strong resistance near 5971. Nifty fell below today 20 day moving average giving negative signal. As per our yesterday trade 5800 acted as strong support and bulls protected theses level. Nifty is in short term down trend and bearish gap down 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 may give support nifty. Nifty 5800 call added 5.78 lakh fresh open interest in yesterday's session and 5800 put added 4.52 lakh fresh open interest indicating volatile move around this level. Put call ratio is at 1.15 indicating bullish sentiment.
FIIs sold index future worth Rs.699 cores and open interest increased by 1.9%, as nifty future was down by 45 points and open interest increased indicating that FIIs have made fresh short position in yesterday trade.
LAST HIGH - 5850 LAST LOW - 5814
WEEKLY HIGH - 5945 WEEKLY LOW - 5791.75
5 DMA DAILY - 5876
20 DMA DAILY- 5842
WEEKLY HIGH - 5945 WEEKLY LOW - 5791.75
5 DMA DAILY - 5876
20 DMA DAILY- 5842
50 DMA DAILY- 5932
200 DMA DAILY- 5597
Nifty is in down trend in very short term view. Yesterday's gapdown opening has worsen bullish sentiment of nifty and it is standing at very crucial juncture.Nifty has broken triangle trendline yesterday and closed around this trendline. 5780 is 61.8% retracement level and any break below this level nifty may slide fastly 200 points from that level. In short bias are negative and today RBI policy review and RBI may give positive injection in market. Safe players keep side yourself till market stable.
Short term stoploss for long trade at 5780 spot price
Target expected - 5920 if broken then 5970.
Target expected - 5920 if broken then 5970.
A FANTASTIC FABULOUS PROGRAMME BY NIFTY EYES MULTILEVEL MONEY MAKING CLUB HAS LAUNCHED WITH FULL OF EXCITEMENT AND GOT MARVELOUS SURPRISING RESPONSE. JOIN THIS CLUB AND BE A PART OF TECHNICAL ANALYST CLUB. LEARN AND EARN AND BE A TECHNICAL TRADING HERO.
