Nifty Analysis
Nifty Analysis
The Nifty 50 index opened on Monday with a gap up and closed at a new life time high of 10,153. It traded on a flattish note for the next two days, but the last two days have been terrible for bulls.
Nifty slipped 100 points from the highs and recovered on Thursday. However, it couldn't hold back Friday when it opened with a downward gap and continued to drag lower throughout the day. It eventually ended yesterday's session with a cut of 157 points. Its largest fall in last ten months.
The index is currently placed near the rising trendline support which it has held since May 2017. The daily RSI is displaying negative divergence with price, which suggests that markets may be running out of steam. However, we will have to wait and watch for a break below the trendline. If that happens then bears will be back in the driving seat for a while.
Nifty Options Analysis :
Support : 9900 Resistance : 10000
MAX OI Contracts :
10200 CE - 64.43 Lakhs OI Contracts & 9900 PE - 42.1 Lakhs OI Contracts
Sentimental Indicators:
INDIA VIX = 12.81
TRIN : 0.9
NIFTY OI PCR : 0.92
Fundamental Indicators:
PE RATIO : 25.95
PB RATIO : 3.52
DIV YIELD : 0.94
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