PROBABILITES OF DALAL STREET ON 8th AUGUST 2024

Dear market participants, today nifty recovered and closed in green that is 24297(+1.27%). For next day just go through the following points.

FII’s bought 63981 index future and in options they sold 11L so they are medium bearish in options. In stock they sold 3,315cr.
DII’s sold 80194 index future and in options they sold 4.24L. in stock they bought 3,801 Cr
Clients are bullish in future and in options they are neutral.
If we look at Global markets, US markets and European market both are positive and Asian markets are also trading positively .
Volatility index fell 73% , that closed at 16.17 .
As per open interest nifty has 24,200 followed by 24,000 has highest put writer. There is highest call writer at 24400 followed by 24500.

Tomorrow RBI interest rate decision will be announced , may be around 11 clock in the morning, after the result there may be major move can happen. Market excepting interest rate should be 6.50%. for intraday as well as positional trades can be better to take after the result. Major support and resistance in nifty is 2400-24400.

-By

A Ganesh R Bhat