Dear market participants, today once again nifty fell from 24971 which was very close to all time high, was made on last trading session. For next session we have to look following points.
- FII’s bought 1.58L index future and in options they bought 94589 so they are medium bullish in derivatives. In stock they sold 5599cr .
- DII’s sold 79,213 index future and in options they sold 3.2L. in stock they bought 5565 Cr
- Clients are medium bearish in future and in options too.
- If we look at Global markets, US markets are bearish and European market is slightly positive and in Asian markets are mixed.
- Volatility index fell 0.5% , that closed at 12.88 .
- As per open interest nifty has 24700 followed by 24500 has highest put writer . there is highest call writer at 25000.
From past two days nifty tried to close above 24950 . from that level correction is happening so 25000 is gradually turning weak resistance into strong resistance. At down side 24500 will be strong support. now it looks risky to buy on dip. So be careful at support levels.
-By
A Ganesh R Bhat
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