Dear market participants, nifty fell 2.68% closed around 24055, it was expected because of all the negative sentiments in global markets. Will this bearish rally continue ? we can just check the following points.
- FII’s bought 1.1L index future and in options they sold 06L so they are medium bearish in options. In stock they sold 10,074cr .
- DII’s sold 90920 index future and in options they sold 4.04L. in stock they bought 9156 Cr
- Clients are indecisive in future and in options they are strong bullish.
- If we look at Global markets, US markets and European market both are very bearish and Asian markets are also indicating very negative sentiment.
- Volatility index rose 43% , that closed at 20.37.
- As per open interest nifty has 24000 followed by 23800 has highest put writer. There is highest call writer at 24400 followed by 24500.
Globally all markets continuing its bearish rally on 2nd day also so still sentiment is negative and in nifty 24000 is weak support and 24400 will be strong resistance. Today nifty broken 24000 but fail to sustain below that level so chance of breaking support that is 24000 is very high. So, please be careful while taking bullish view for tomorrow’s trading session.
-By
A Ganesh R Bhat
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