Nifty 28 Aug 2017

Market 28th Aug

Nifty seems back on its feet, with the close at 9912 above all the key EMAs, on the daily chart. The weekly chart has been showing strong bullish momentum throughout the year. 

The Broad Market Indices were all green today and the Sectoral indices closed in green except for PSU banks which was in the red by 0.10%. The broad market Advance decline ratio was a favourable 2:1.The small and mid cap indices outperformed the Nifty in today's trading. Pharma, FMCG, IT and Media contributed to the bullishness as these indices lead the way. 


India Vix and Derivatives Data for Aug 28th

The India Vix closed below the key short term EMAs of 5, 10 and 20 EMA on the daily charts, indicating bullishness in the short run. 

The overall PCR for Nifty Aug Series was 1.05 indicating mildly bullish stance. 9800 is seen as a strong support and 10000 a strong resistance for this series.

I have been trying to get some additional perspective based on the OI Change. I have tried to combine the daily OI data of Aug and Sep Series for Nifty and created the attached chart, indicating long build up over a period of time. This is an experiment with the data, and I am still checking if this will become useful for decision making in a meaningful way. So, kindly perform your due diligence before you act on this visual representation of the daily OI sentiment Change. 


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Disclaimer :

This blog is for educational and awareness purpose only. The views are intended for discussion and exchange of views rather than an expert opinion. This is not an recommendation to buy or sell or invest in the stock market and derivatives market. Kindly exercise caution and perform your own due diligence before investing in the market, after fully and clearly understanding the risks involved.

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