Nifty 07 Nov 2017. Nifty kisses 10340

Big Picture 07 Nov 2017

Day Stats : A bearish day with a loss 101.65 points.  
Day: Down Day
Broad Based Indices: All Red. Top Losers MidCap50 and SML100
Sectoral Indices: Sole Gainer IT 2.22% Rest in red. Top Loser PSU Banks
Advance Decline Ratio : 0.31 (Very Bearish)
52W HiLo Score: 83% (Below EMA) 13EMA: 88.27%

Candle Stick Analysis


 Candle pattern:  Very Bearish Big Range Candle.  Small lower shadow and upper shadow. Close near the bottom.   
Range: Very High. No Demand
Volume:  Normal. Supply exceeded Demand
Notes: Nifty found support at Fib Level 10340 (check my blog with monthly outlook). This is a 23% retracement. A 23% retracement is a healthy sign as Nifty is at lifetime high levels and a bounce back from these levels can take it to the second upside target post breaking 10500. Further bearish move could take it 10235.

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 : 13.2375 (+1.65%) Neutral day
Option Series : Nov Expiry
Put Call Ratio : 1.18% Neutral zone down from 1.43 yesterday
Put Call Volume : 0.93 Neutral
Support and Resistance Strike Price : 10000 and 10500
Max Pain: 10300
Call Analysis : Short Build up and Long Liquidation from 10200 to 10550 (Bearish)
Put Analysis: Short covering from 10150 to 10550 (Bearish)
Notes: Option market data indicates further downside

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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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