LAST WEEK SNAP SHOT:-
The markets closed with significant declines last week with all
sectoral indices closing negative. The Sensex was down 1.6% and Nifty
also lost 1.6% over the week. The CNX Midcap index closed with 1% loss, BSE Smallcap lost 1% while the Bank Nifty closed with 0.4% loss. The BSE Metal closed with 3% loss, BSE power closed with 2% loss and BSE Realty was down 0.6%. The BSE capital Goods closed with 0.7% loss, BSE Auto lost 2%, BSE Consumer Durables
was down 3.2% and BSE IT closed with 4.8% loss. The top Nifty gainers
during the week were ONGC, GAIL, BPCL and HDFC Bank while the biggest
losers included Infosys, Wipro, Tata steel and Jindal steel.
LAST DAY SNAP SHOT:-
The markets closed flat on Friday with realty,
metal and consumer durables being the biggest losers. Power and IT, too,
lost significantly and FMCG was the only sector that managed to close
in the green. The Sensex closed at 17214, down 19 points from its
previous close, and the Nifty closed at 5227, down 8 points. CURRENT TECHNICAL SITUATION:-
Market touched two days 5217 level and closed above that level. FIIS
sold nifty future worth Rs 39.3 Cr. and open interest increased by 2.1%
indicating that some shorts have entered in the market but volume is too
low. Nifty 5300 call added 837,800 new contracts in open interest and
there is also huge open interest buildup seen in 5300 call on thursday
session. 5400 call added 979,900 fresh shares in open interest. Nifty
5300 put decreased by 376250 shares from open interest. Huge open
interest build up in 5300 and 5400 call frequently two days is a danger
sign for call writers, and indicating up move fore next session.
As per nifty EOD chart RSI and slow stochastic indicator is in sell
mode and indicating down move and Nifty has hit two week low on friday.
As i have written in my previous post that a good great rally is due
in Indian market, but non of you believed on my words and now after
watching closing of all US and European market on Friday must would have
started thinking about up move. Some green signal from global front
can lift nifty up. By seeing this rally many of analyst would start
talking about up move in the market on Monday now.
Why I have always been alerted you about the coming trend or move of
the market before time. I should always be like others and start writing
after happening the events. But I am helpless my dear friends, this is
my style and I cant change it. Don't be short in nifty above 5380. Any
two close above 5300 this time market will give smart jump to 5422-5500.
I have also told you that I expect expiry above 5400-5500. Sgx nifty is
indicating at 5270 watch this level carefully sustaining above this
level till 11 am on monday will jump to 5330 level in hours only.