Dear market participants, on the last trading session nifty was given very good bullish movement, as mentioned on last report “probability of downtrend from this level is low”. For next trading session we have to consider the following points.
- FII’s bought 1.32L index future and in options they bought 22L so they are bullish l in derivatives. In stock they bought 2546cr.
- DII’s sold 79,450 index future and in options they sold 3.05L in stock they bought 2,774 Cr.
- Clients are medium bearish in future and in options they are strong bearish.
- If we look at Global markets, US markets, European markets and Asian markets all three markets are positive
- Volatility index fell 2.93%, that closed at 12.25.
- As per open interest nifty has 24500 followed by 24200 and also 24000 has highest put writer, there is call writer at 25000.
Nifty has given 1.76% movement on last trading day. probability of crossing the 25000 level is high within august 2nd or 3rd week. For tomorrow, market may consolidate between 24600 to 24900. As of now bullish sentiment is there but fed rate decision and corporate Q1 results are still pending, these news may affect the market.
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