Bank Nifty Market View

Bank Nifty index added fresh open interest, indicating a marginal addition of short positions. On the options front (March 28, 2018 expiry), short covering was witnessed in put writing positions, while fresh short positions were created in out of the money call option strikes.India VIX closed at 16.27, up ~2.63%

Weekly Chart

chart

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Nifty Market View

Indian equity markets ended on a negative note as across the board selling pressure was seen in majority of the sectoral indices. Nifty Midcap & Nifty Bank index underperformed the benchmark index by 0.2%/0.4%.Nifty Realty index was among the gainers, closing 0.62% up. Oil Marketing companies like BPCL & HPCL added fresh short positions, closing the trade ~2.5% lower. Market breadth ended in the favor of declines with the advance/decline ratio closing at 1:2x

Weekly Chart

Nifty market view
Nifty market view

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Nifty Market View

Nifty View

Nifty50 Traded strongly bullish on last Friday and managed to closed with weekly gain of around more than 3% .  Albeit Nifty50 traded in a broader  range of 394.40 points before signing off the session with a small bullish candle and a strong advance/decline ratio ahead of truncated week can be suggesting that bulls are in accumulation phase. Rollover spread observed around 54.15  where as PCR Noticed 1.52.

Weekly Chart

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Bank Nifty View

Bank Nifty failed to surpass 27,500 zones and corrected towards 27,220 levels. It has negated formation of higher lows of the last four session and finding multiple hurdles between 27,500 and 27,750 zones from five weeks.

Daily Chart

chart

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Nifty Market View

The Nifty50 remained in the grip of bears throughout the trading session. It closed below its crucial 5-days exponential moving average placed at 10,967 and made a strong bearish candle after forming a Doji candle which suggests a possible reversal in the trend. The 5-DEMA acted as crucial support for the index soon after it made a bottom around 29-30 January. It breached the level on the downside in Friday’s session and now investors are advised to stay cautious and use rallies to create short positions.

Daily Chart

chart

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Nifty Weekly View

Indian indices erased all its morning gains and ended lower on Friday with Nifty finished below 10,800 level. Nifty Future close near around its support zone as well as 20 DMA which further indicates selling pressure in coming days.

Weekly Chart

chart

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Nifty Weekly View

Equities have ended the week on a negative note, with the Nifty giving up 10,800. All sectoral indices, barring consumption, have ended in the red. The Nifty FMCG index ended nearly a percent higher. Weakness was visible among midcap names as well, with the Nifty Midcap closing with losses of one-fifth of a percent.

Weekly Chart

chart

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