Consolidation at higher levels 0 608

Pre Market Updates Thursday March 7, 2019
Nifty levels

Outlook:

  • Fresh long open positions added in Bank Nifty futures for the third trading day in a row.
  • After crossing psychological 11000 levels, short term trend is expected to be positive, but there could be some consolidation at higher levels following three-day rally.
  • Weekly expiry will bring add some volatility in today sessions.
  • Also we can expect some sharp move in the closing hour.
  • Nifty likely to face resistance at 11120 and support at 11000.

Simple Moving Averages:

  • 50 days SMA: 10828
  • 150 days SMA: 10895
  • 200 days SMA: 10865

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  bullish candle

  • Nifty formed a bullish candle for third day.

Patterns:  Rectangle channel patterns

  • Price is currently hovering near resistance.
  • It can occur in any direction upside or downside.
  • If the breakout is in upside direction, it indicates that the bulls have taken over bears and indicates a buy signal.
  • However if the breakout is in downside direction it indicates selling pressure or victory of bears over bulls and indicates a sell signal..

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 11000
  • Bank Nifty max pain level currently at 27500

Put Call Ratio

  • Nifty PCR at 1.51
  • Nifty Bank PCR at 1.05.

Max O.I Strikes

  • Nifty: 11000 PE and 11100 CE
  • Bank Nifty: 27400 PE and 27700 CE

FII & DII Net Purchase / Sales

  • FII: 1,130.78 CR
  • DII: -878.45 CR

Securities in ban period for F&O segment: 3 securities under ban

  • IDBI
  • RPOWER
  • WOCKPHARMA

Disclaimer: The views expressed by investment expert on rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.

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