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Market Outlook
Indian Market is continuously trading in range of 10600 to 10825, where it repetitively getting supply at upper range and covering at lower range in last so many trading days and this range is getting longer time mean market is not in decisive mode and waiting for some Macro clues for the same.
Today Nifty has open above at previous day closing level 10668 but corrected following global and asian market to made a low of 10630 and In second half following clues from European Market recovered and made high of 10713 before closing at 10699.
All of sudden every one getting bullish and have feeling bottom has been formed and their can be speedy recovery in midcap and small cap and large cap have limited downside till 10600-650 and closing above 10660 will push it higher side for 10830-950!
This type of scenario always experience before uncertainty being unsupportive data for the same.
India VIX fell down up by 2.77 percent at 13 levels. Lower volatility indicates limited downside and decline is being bought
Tomorrow strategy would be sideways shorting below 10730 for 10690-650 and pull back or buy above 10730 for 10780!
Bank Nifty will have supply below 26300 for 26170-150 and demand above 26300 for 26440 and 26580!
Maximum call open interest (OI) of 36.34 lakh contracts was at the 11,000 strike price. This will act as a crucial resistance level for July series.
This was followed by the 10,800 strike price, which now holds 28.15 lakh contracts in open interest, and 10,700, which has accumulated 27.39 lakh contracts in open interest.
Maximum put open interest of 51.64 lakh contracts was seen at the 10,600 strike price. This will act as a crucial resistance level for July series.
This was followed by the 10,500 strike price, which now holds 34.25 lakh contracts in open interest, and the 10,200 strike price, which has now accumulated 32.59 lakh contracts in open interest
FIIs sold shares worth Rs 1,043.31 crore, while domestic institutional investors bought shares worth Rs 278.84 crore in the Indian equity market.
Market Outlook
Indian Market is continuously trading in range of 10600 to 10825, where it repetitively getting supply at upper range and covering at lower range in last so many trading days and this range is getting longer time mean market is not in decisive mode and waiting for some Macro clues for the same.
Today Nifty has open above at previous day closing level 10668 but corrected following global and asian market to made a low of 10630 and In second half following clues from European Market recovered and made high of 10713 before closing at 10699.
All of sudden every one getting bullish and have feeling bottom has been formed and their can be speedy recovery in midcap and small cap and large cap have limited downside till 10600-650 and closing above 10660 will push it higher side for 10830-950!
This type of scenario always experience before uncertainty being unsupportive data for the same.
India VIX fell down up by 2.77 percent at 13 levels. Lower volatility indicates limited downside and decline is being bought
Tomorrow strategy would be sideways shorting below 10730 for 10690-650 and pull back or buy above 10730 for 10780!
Bank Nifty will have supply below 26300 for 26170-150 and demand above 26300 for 26440 and 26580!
Maximum call open interest (OI) of 36.34 lakh contracts was at the 11,000 strike price. This will act as a crucial resistance level for July series.
This was followed by the 10,800 strike price, which now holds 28.15 lakh contracts in open interest, and 10,700, which has accumulated 27.39 lakh contracts in open interest.
Maximum put open interest of 51.64 lakh contracts was seen at the 10,600 strike price. This will act as a crucial resistance level for July series.
This was followed by the 10,500 strike price, which now holds 34.25 lakh contracts in open interest, and the 10,200 strike price, which has now accumulated 32.59 lakh contracts in open interest
FIIs sold shares worth Rs 1,043.31 crore, while domestic institutional investors bought shares worth Rs 278.84 crore in the Indian equity market.
