Nifty Analysis
Nifty Analysis
The Nifty 50 Index traded on a strong note during the week. On Tuesday, it opened to 104 points gap up, but slipped lower to end the session at 71 points up. But, the bullish momentum continued as the index witnessed a rise in buying interest the next day. This was because the RBI announced its fourth bi-monthly policy keeping the key interest rate unchanged. The index traded dull on Thursday. However, it resumed the climb on the final stretch of the week, where it rose almost 100 points just shy of 10,000 mark. The Nifty ended the weekly session 2% up.
Although the index rallied during the week, looking at the broader perspective, it is stuck in a range of 9,700 - 10,150 since July. Unless we see a sustained break-out on either side of this range, the index trend remains uncertain.
Nifty Options Analysis :
Support : 9800 Resistance : 10000
MAX OI Contracts :
10000 CE - 40.8 Lakhs OI Contracts & 9800 PE - 53.66 Lakhs OI Contracts
Sentimental Indicators:
INDIA VIX = 12.48
TRIN : 0.33
NIFTY OI PCR : 1.11
Fundamental Indicators:
PE RATIO : 25.92
PB RATIO : 3.41
DIV YIELD : 1.14
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