- Nifty daily chart showing bears extending gains below 200 DMA.
- Line chart is showing a possible reversal area from near 5490 levels
- MACD is showing slight positive divergence but price is yet to confirm.
- Bears will be happy to see yet another bearish engulfing in weekly chart.
- TATA STEEL ASCENDING BROADENING WEDGE
The Nifty Index in last trading session tumbled 1.60% and ended in deep red at 5512.15. On the derivatives front we have seen that the Nifty
ReplyDeleteFutures prices declined along with an overall addition of open interest and increase in the cost of carry, this is an indication of some longs
being built at lower levels. On the options front we have seen that the OI PCR has increased to 1.31 levels and the Volume PCR has ended at
1.10 level. On the volatility front the Indian Volatility Index (VIX) has ended with gains of 2.22% at 22.58 indicating volatility has increased in
the markets.
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