- In the previous day’s analysis, we had mentioned that the Bulls are likely to be back in control only above 15776 (Nifty Futures).
- Nifty Futures closed at 15720 indicating that the Bears are in control.
- Despite the Nifty closing in red on Friday, the India VIX fell by 4.55%. This is a good sign.
- The Mid-Cap space looks stronger compared to Nifty 50. The Mid-Cap index closed in green both in the daily and weekly timeframes.
- REALTY and METAL Stocks performed well last week, whereas AUTO and PSU Banks continued to witness selling pressure.
- On Friday, after the Indian Markets closed, the European and American markets closed in green.
- SGX Nifty also turned positive.
- In the last month, Asian Markets including India have underperformed (2-4% Fall).
- The US Indices have done well in the last 1 month (4-5% Increase)
- FIIs sold for ₹1125 crores in the Cash Market and the DIIs bought for ₹107 Cr.
- The FIIs are currently holding more short positions (54.2%) than long positions (45.8%).
- There is maximum OI build-up at 15700 w.r.t current week expiry. Calls were added at 15700 on Friday.
- Even if you look at the OI build-up of Monthly Expiry, Calls were added at 15700.
- 15700 could act as a strong resistance on Monday. If it breaks, we could witness a quick move on the upside.
- Find below the key levels for tomorrow’s trade. For Key Levels of Banknifty & Stocks, visit this link.
Bulls will be back in control above 15741. Targets on the upside are 15776, 15806 & 15844.
Bears to stay in control below 15681. Targets on the downside are 15659, 15629 & 15597.
Note: The levels are based on Nifty Futures chart.
- Moderately Bullish
- Moderately Bearish