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The market did open flat to negative with seen selling pressure again since opening and ended with negative closing with broken and its major support of 4810-4785,and given a decisive close below this mark.It was advised that market may be under pressure if once it breaks and sustains below 4810 and then 4725 level was expected due to selling pressure and market almost turned from this level with making a low of 4738.Market is seems to be very crucial now as if 4725 is not be saved by the bulls then this final sell off can show 4665-4580 in the downside and the immediate hurdles it will face now near 4810-and then 4850.Still market if rise selling is not ruled on every rise as long as its not close and cross 4810-50 level decisively.
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The market did open flat to negative with seen selling pressure again since opening and ended with negative closing and also below 4855 again that was its strong support and also its 50 EMA.Market as expected again seen short selling and exit from longs near 4870 ( first immediate support of yesterday ) and finally a round of selling seen in the last trading hours with nifty closed below 4855.We expected selling from higher levels and it was mentioned so many times that market may if not hold the the level of 4945-25 then our lower levels were 4880-4845 and we closed below our second support level today.Upper side it will face hurdles now at 4875-4940,while major support now comes near 4810-4785,a breach and sustain below this mark nifty will slide to kiss 4725-4710 in the downside.Any rise will not sustain as long as we are holding below 4885-4920,and for very immediate time nifty will face hurdles near this range.
Index futures saw a trading volume of Rs.23212.59 crores arising out of 970230 contracts and Index options saw 1881343 contracts getting traded at a notional value of Rs.46117.06 crores. The total turnover of the Futures & Options segment of the Exchange was around Rs.106431.02 crores.
NIFTY (4846.7)
Resistance : 4865 / 4905 / 4950
Support : 4785 / 4740 / 4710
SENSEX (16353.4)
Resistance : 16415 / 16550
Support : 16145 / 16010
NIFTY FUT (4848.55)
Resistance : 4870 / 4910 / 4940
Support : 4795 / 4755 / 4725
MKT COMMENTS
NIFTY FUT OI (both series) marginal up with decreasing volumes indicating forming of long positions at lower levels.
We expect NIFTY FUT to trade volatile due to expiry.
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The market did open flat to negative with seen selling pressure again since opening and ended with negative closing and also below 4855 which is its strong support and also its 50 EMA.Market as expected again seen short selling and exit from longs near 4970 and finally a round of selling seen in the last trading hours with nifty closed below 4855.We expected selling from higher levels and it was mentioned so many times that market may if not hold the the level of 4945-25 then our lower levels were 4880-4845 and we closed exact at our second support level today.Upper side it will face hurdles now at 4920-4970,while major support now comes near 4810-4785,a breach and sustain below this mark nifty will slide to kiss 4725-4710 in the downside.Any rise will not sustain as long as we are holding below 4885-4920,and for very immediate time nifty will face hurdles near this range.
NIFTY (4846.7) : CloseBelow 4770,Opens A Gap Of 4550, Which Can Be Filled Soon.
Resistance : 4885 / 4935 / 4960 / 5025
Support : 4805 / 4745 / 4725
SENSEX
Resistance : 16795 / 17250
Support : 16110 / 15865
NIFTY FUT (4849)
Resistance : 4925 / 5010
Support : 4795 / 4755
MKT COMMENTS
NIFTY FUT OI (both series) up with increasing volumes indicating forming of short positions in next series.
We expect NIFTY FUTto trade volatile with possibility of bounce.
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The market did open flat to negative with seen selling pressure again from higher side and ended with negative closing and also below 4995 which is its good immediate support.Market as expected again seen profit booking and exit from longs near 5034 and finally a round of selling seen in the last trading hours with nifty closed below 5000.We expected selling from higher levels and it was mentioned so many times that market may if not hold the 5020 then we might see fresh selling pressure till 4945-25.Upper side it will face hurdles now at 5020-5045,while good support now comes near 4951 and breach and sustain below this mark nifty will slide to kiss 4880-4845 in the downside.Any rise will not sustain as long as we are holding below 5052,and for very immediate time nifty will face hurdles near 4995-5025 range.
NIFTY (4997.05)
Resistance : 5015 / 5065 / 5090
Support : 4945 / 4915 / 4860
SENSEX (16810.81)
Resistance : 16885 / 17030 / 17100
Support : 16715 / 16650 / 16560
NIFTY FUT (5007.9)
Resistance : 5020 / 5070 / 5115
Support : 4940 / 4920 / 4875
MKT COMMENTS
NIFTY FUT OI (both series) up with increasing volumes indicating forming of short positions in next series.
We expect NIFTY FUT to trade volatile. Bounce expected from lower levels.
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The market did open flat to positive with seen selling pressure again from higher side and ended with slightly positive closing ,market as expected again seen profit booking and exit from longs near 5055 and finally a round of selling seen in the last trading hours with nifty breached its trendline support and closed below its short term support level of 5020 again.We expected selling from higher levels and it was mentioned so many times that market may if not hold the 5020 then we might see fresh selling pressure till 4945-25.Upper side it will face hurdles now at 5020-5045,while good support now comes near 4951 and breach and sustain below this mark nifty will slide to kiss 4880-4845 in the downside.Any rise will not sustain as long as we are holding below 5052.
WEEK GONE BY Nifty took resistance close to 5200 and drifted lower to around 5000 levels as anticipated last week. Nifty remained weak throughout the week and breached very important trendline support. Weekly low was 4968.45, weekly high was 5181.95
1) Total OI of NIFTY FUT flat, NIFTY OCT FUT down 2.63% last week. NIFTY FUT premium increased to 11 points from 1 points compare to NIFTY SPOT.
2) Out of NIFTY 50 STOCK FUTS, 11 STOCK FUTS closed positive, 34 STOCK FUTs closed negative and 05 STOCK FUTs close flat last week.
3) OI of current series NIFTY 4900 CE is down 26.58% prices down 51.57% showing profit booking. OI of NIFTY 5000 CE is up 33.14% prices down 66.50% showing call writing. OI of NIFTY 5100 CE is up 68.37% prices down 81.26% showing aggressive call writing. OI of NIFTY 5100 CE is 56.25 LK highest OI in CALLs.
4) OI of current series NIFTY 5000 PE is down 22.60% prices up 37.86%, NIFTY 5100 PE is down 55.50% prices up 70.88% last week showing short covering. OI of NIFTY 4900 PE is 52.76 LK highest OI in PUTs.
5) Total OI of OCTO series CALLs is up 19.69 LK to 2.45 CR, OCTO series PUTs is down by 79.34 LK to 3.09 CR. NIFTY OCTO series PCR (OI) at 1.26 down by 0.46 points. PCR (OI) at lowest levels in current series.
SECTOR WATCH : SUGAR (UP MOVE)
BAJAJHIND FUT : OI up 24.70% prices up 11.91% last week. Key R 238, 244. S 218, 209.
BALRAMCHIN FUT : OI up 9.90% prices up 2.26% last week. Key R 142, 146. S 129, 120.
RENUKA FUT : OI up 19.97% prices up 3.21% last week. Key R 222, 231. S 208, 200.
TRIVENI FUT : OI up 23.80% prices up 3.13% last week. Key R 122, 126. S 109, 105.
STOCK FUT TO WATCH NEXT WEEK : NTPC FUT (BULLISH)
OI up 23.98% prices flat last week. Key R 221, 225. S 209, 204.
There Is Huge Supports@ 4915/4880, Maintain All LONGS In NIFTY With A Target Of 5100/5150 For This Expiry (Friday).
Make Fresh Longs In 5000 & 5100 NOV CALLS Around 4920/4880, Sl 4830, Tgt 5100/5150
I expect NIFTY SPOT to trade volatile next week. NIFTY SPOT to show down move first. Support@ 4970-80 levels, below 4960 levels, next TGT will be 4900-4910.
I expect bounce from below 4900 levels. On Upside NIFTY SPOT Resistance@ 5020-30. Strong Resistance@ 5060-70 levels.
Expiry possible between 4950-5050 levels. New series to begin with positive note.
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