Nifty opened with a huge gap due to global factors at 8302.75 and went to touch the low of 8277.95 and recovered swiftly above 8300 and got consolidated in the band of 8308-8333. PDC (previous day Close) was giving the initial resistance and range low was acting as good support for entire day so actual trading band was from 8343-8308.
Yesterday, Option Table Open Interest, gave us a slight hint of Price breaking 8300 (profit booking was seen at 8500 CE levels today and short covering was seen in 8300 PE, may be a dip below 8300 is not ruled out. )
Broader market was weak with 648 advances to 818 declines for the day. Since tomorrow is expiry for May contract, most of the technical's wont work during last one hour :) so keep your stops handy and trade with extreme caution.
Expiry range as per INDIA VIX -- 8410 -- 8259
FII -- Have added Longs and shorts in Index futures with more bias on downside.
Clients -- Have added longs and shorts in Index futures
DII -- Have added small longs and no change in shorts
Pro -- Have added longs and covered their shorts.
Again similar story unfolding, range-bound day with Negative bias...
Happy Trading
Yesterday, Option Table Open Interest, gave us a slight hint of Price breaking 8300 (profit booking was seen at 8500 CE levels today and short covering was seen in 8300 PE, may be a dip below 8300 is not ruled out. )
Broader market was weak with 648 advances to 818 declines for the day. Since tomorrow is expiry for May contract, most of the technical's wont work during last one hour :) so keep your stops handy and trade with extreme caution.
Expiry range as per INDIA VIX -- 8410 -- 8259
FII -- Have added Longs and shorts in Index futures with more bias on downside.
Clients -- Have added longs and shorts in Index futures
DII -- Have added small longs and no change in shorts
Pro -- Have added longs and covered their shorts.
Again similar story unfolding, range-bound day with Negative bias...
Happy Trading
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