Nifty Daily Update Sept 11th 2017.

Market Sept 11th 

The market started off on a bouyant note despite uneasiness on the geo-political front not fading away, and the GST news about input credits. The Nifty made a confident start with a gap up and continued the upmove till about 2:50 PM. The last 40 minutes of trading saw the Bears trying to push the index close below 10K levels, and Bulls managed to close at 10006.05 a good 71 points above Fridy's close. The range for the day was 9968 to 10028.65 about 60 points of which the bears managed to wrest 22 points from the day's high.

The market breadth was positive with all broad based indices participating in the rally and closing the day green. All sectors too participated except for Pharma and PSU banks, both Pharma losing 0.41% while PSU ending the day marginally in the red. The advance decline ratio was positive with advances to decline ratio close to 1.2 to 1. About 97 scrips achieved new 52 week high while 26 scrips touched new 52 week low mark in the day's trading.


India Vix  and Derivatives Data.

India Vix closed 4.65% lower at 12.36 indicating bullish activity in the options market. The put call ratio was 1.24 but it is quite early in the month to derive any conclusion. The daily volume was about 907K of Puts transacted versus 698K of calls transacted.The 9900 strike price has the maximum open Interest on the Put side.Tthe 10000 Strike Price has the maximum open interest on the call side.

Market Sept 12th

The day's candle almost tagged the Bollinger Upper Band. The Band has stopped shrinking and has began to expand again. So the possibilities are for Nifty to break out tomorrow or consolidate near the Upper Band. With that in mind,

The Nifty Range for Sept 12th is likely to be 9950 to 10050 with support at 9900 and resistance at 10130.

 The Bank Nifty range for Sept 12th is likely to be 24524 to  24833 with support at 24338 and resistance at 25000.

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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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