Thursday, 21 June 2018

Trade Setup For Friday, Nifty Given Up Reclaimed 10800!

Really don't know, the way market behaving in india, clearly supply is more than the demand and every rise easily taken to sell in follow up with Global clue. Today again Market has open up  with Gap up and claimed 10800 level to surrender to bears with no extra resistance as fear before OPEC meeting and ECB event and closed above important support 10740 after making low of 10725.
DAX future also have given up gain and continue to trade below 200 DMA and 100 DMA.
Investor Seems to be moving in weekly range of 10650 to 10825 and traders are using buy at low and sell on rise but breakout is must on any side to decide further direction and market is waiting for the same but

FIIs and DIIs both were buyers today in indian equity market and bought equity shares worth 1126 crs and 636crs. 

CG Power, DHFL, Infibeam and JP Associates are in F&O Ban list.

Experts at Moneycontrol, CNBC tv18 maintained their berrish outlook reversal below 10950 where as we feel 10875 will be decisively decide the reversal of berrish trend and will get turn up bullish in following of higher target till the time sell on rise strategy will be valid for us.

Tomorrow if nifty remain below 10790 will be taken as sell opportunity for the target of 10740/10710/10670 and above that target will be 10840!

Bank Nifty will be acting as continuously source of  pressure  on Nifty below 26630 to  26500 and target are 26400/300!

Max open interest seen at 11000 and this was followed by the 10,800 strike price, which now holds 44.87 lakh contracts in open interest, and 10,900, which has accumulated 35.92 lakh contracts in open interest.

Maximum put open interest of 49.42 lakh contracts was seen at the 10,700 strike price, which will act as a crucial base for the index in June series.

This was followed by the 10,600 strike price, which now holds 43.45 lakh contracts in open interest, and the 10,500 strike price, which has now accumulated 30.17 lakh contracts in open interest.

There was hardly any Put writing seen.

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