Showing posts with label support and resistance of nifty and bank nifty. Show all posts
Showing posts with label support and resistance of nifty and bank nifty. Show all posts

Wednesday, 30 May 2018

Market Outlook Before And Trade Setup For Thursday, 31st May,2018

Market has taken a gap down opening following global cues and concern arising because of italian political uncertainty and rising EURO/USD though rupee mange in the day with sharp recovery of .40 P.  Volatility remained throughout the session but index able to managed 10550 support and pull back to 10650 before getting closed at 10614.

Nifty if nifty take this support (10540) to achieve level of 10680 and 10740 on higher side while braking support of 10550 can take it to 10480 which may cause further closer of long position and create selling pressure.

It has seen lower rollover compared with the average of last six months, while roll cost was very low comparatively, which suggests a neutral market stance for the foreseeable future

India VIX moved up 2.16 per cent to 13.41 level, suggest a volatile expiry session tomorrow.

Option Summary

On the options front, maximum Put open interest was intact at 10,500 followed by 10,600, while maximum Call OI was at 10,800 followed by 10,700. Put writing was seen at strike price 10,500 while significant call writing was seen at 10,600 then 10,550. Options data suggested a broader trading range between 10,550 and 10,700 levels.


Banknifty too remain very volatile throughout the session, Bank Nifty has to hold above 26,250 to witness any upward move towards 26,500 and then 26,750 levels, while on declines, major support is seen near 26,100 and 26,000 levels. Trading Range for tomorrow will remain 26000-26500 which are vwap for  bankinfity on daily and weekly charts.

FII & DII data:

Foreign institutional investors (FIIs) sold shares worth Rs 1,286.91 crore, while domestic institutional investors bought shares worth Rs 492.46 crore in the Indian equity market, as per provisional data available on the NSE.

Stocks in news:

  • ICICI Bank-Videocon case: Bank calls for probe against Chanda Kochhar after another complaint

  • Bhushan Steel: Firm reiterates that increase in share price or volume is purely due to market conditions.

  • UltraTech: The firm has received letter of intent from Binani Cement’s committee of creditors

  • Punj Llyod posts Q4 profit of Rs 944 crore.

  • EIH: Q4 net up 11% at Rs 56 crore

  • IOB: Q4 loss widens to Rs 3,606.73 cr on rising bad loans

Bulk Deals:

Jubilant Foodworks: Axis Mutual Fund bought 359,250 shares at Rs 2,542.77 per share

Jauss Polymers: Pratibhuti Viniyog bought 100,050 shares at Rs 18.15 per share

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