Nifty Daily Update 30 Oct 2017.

Big Picture Oct 30th

Nifty recorded a 40 points gain to close at a lifetime high of 10365. The Index created a new peak at  the day's high of 10384.50.

The broad market indices were all green with small caps and midcap gaining the most in session today. Among the sectors, Realty and Pharma were top gainers  while FMCG was the biggest loser. IT and Metals also closed marginally in red.

The advance decline ratio was positive at 1.91 while the 52W HiLO Score was 89.92% (versus an EMA of 80.47). This indicates wider participation in the rally.

Candle Stick Analysis


  • Nifty formed Neutral Candle.
    • The body of the current candle is very narrow and close to the low of the day.
    • Close was above open i.e. Green Candle 
    • Upper Wick was big indicating dominance of supply.
  • Volumes were average.
  • The Nifty reached a new peak with the Day's high of 10384.65 which was higher by around 18 points from the previous day's high (and new peak)
  • The close was close to the previous high and also a new life time high close for the Index. 
  • The neutral candle at the peak shows the challenge faced by Bulls in creating bullish momentum as bears and traders try to call the top and continue to short or book profits, slowing down the momentum.

Trend and Momentum Analysis

  • The above chart now has key moving averages plotted as well as the RSI reading.
  • The Index is comfortably above the key moving averages
  • The RSI reading is bullish.

India Vix and Nifty Options Data

  • India Vix closed bearish with a gain of 5.56% to close at  12.1125
  • The Put Call Ratio for November expiry was neutral at 1.21 
  • The trading Put Call Volume stood at 1.13 which indicates higher activity on the put side (bearish). 
  • 10000 continues to be the support strike price while the resistance strike price has moved down to 10400 from 10500 (on Friday)

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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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