Friday, 18 May 2018

Market Outlook And Trade Set Up for Friday Market

After four day continuously trading in a narrow range, Nifty50 registered Gapup

Opening and given initial push on higher side but given up the handover to bears, which contentiously maintained the selling pressure through out day and in last hour of trade, drag index to 10670 level from days high of 10777 but able to close above its support at 10680 level. 
Today continuously fifth day, Nifty has given a closing with bearish note and today got support by sell signal given by MACD which may need confirmation for further selling.
Nifty has strong support at 10600/10540, which nifty can try to test if break its support at 10670.
we are holding our long position till nifty holding 10550 level and using this level to create further position on selective scripts. Bear are active below 10750 level and closing above level is must for the reversal of  this trend.

BankNifty  also shown continuous weakness after opening and given weekly closing at 26070!  

which is above its crucial support of 26000, Bank nifty seems to be having more pain if remain below 26260-270 and may look for target of 25960 and 25850.

Call Put Data Study

In terms of open interest (OI), the 11,000 Call option has seen the most call writing so far and followed by 10800 and 10900 with highest open interest. Call writing was seen at the strike price of 10,700, which added 9 lakh contracts; followed by 10,800 which added 6 lakh contracts.Call unwinding seen at 11000 and 10500 level

Maximum open interest in put options was seen at a strike price of 10,500 following by 10700 and 10600 by holding 47 and 43 lakh contracts in OI.
Maximum Put writing seen at 10300 followed by 10400 and 10600 which added 2.6, 1.7 and 1.5 lakh contract in open interest respectively. 

FII & DII data

Foreign institutional investors (FIIs) sold shares worth Rs 830.94 crore, while domestic institutional investors bought shares worth Rs 428.92 crore in the Indian equity market on Thursday!
Stocks in focus
Coffee Day Q4: Profit up 95 percent at Rs 25.2 crore versus Rs 12.9 crore; revenue up 26 percent at Rs 1,297 crore versus Rs 1,029 crore (YoY)Voltas Q4: Profit down 3.1 percent at Rs 194.2 cr    versus Rs 200.5 crore; revenue down 0.5 percent at Rs 2,048.4 crore versus Rs 2,058.3 crore (YoY)
Bajaj Finserv Q4: Consolidated profit up 28 percent at Rs 685 crore versus Rs 535 crore; revenue up 25 percent at Rs 8,829 crore versus Rs 7,040 crore (YoY)
Reliance Jio: Exclusively partners with Screenz to create a digital engagement platform
For May 18, 2018 stocks as DHFL, Jet Airways, Jaiprakash Associates, Just Dial, PC Jeweller and Wockhardt are in the F&O ban list.
Happy Trading !
As observe : Emmkay_RA

1 comment:

  1. Great trading day, market behave as expected in concurrence with above observation. Nifty and bank nifty both indexes had taken the support and closed by confirmation of yesterday sell signal and closed the week with bearish signal, contentiously six day closing with bearish sign, now expect to take support at 10550 for bottoming out of this correction.
    Next week crucial for trading.
    observation: emmkay_ra