12.00 AM Nov 19th
Support comes in at the 10665, 10550 10490 while resistance comes in at the 10783, 10878, 10979 levels.
The Nifty has moved on expected lines to appreciate further once it overcame resistance from the 10600 level (in terms of closing) after multiple attempts and needless to say that now sustainability above this aforesaid level is a must for the current ongoing positives to continue. Maximum call open interest comes in at 10800 followed by 11000 while maximum put open interest comes in at 10200 followed by 10500 indicating a rather big range (despite the fact that we are now more than three weeks in the new series) but the situation remains fluid with movements expected on either side. Nifty has added some open interest during the week to end at 2.42 cr and has seen addition of nearly 2.4% on the last trading session of the week; the Bank Nifty open interest has seen some addition (it stands at 15.27 lakh) compared to the last week but has seen some minor reduction in open interest (02.44%) on the last trading session of the week. The Vix has spent almost the entire week above the 18.30 level (in terms of closing) except that it ended at 18.35 (cooled off from an intra week high of 19.68) which has resulted in a better market. The Nifty has sustained (needs to sustain) above the 10600 level and while the Vix has been volatile, it seems to be the only fly in the ointment so to speak and while a further upside seems possible, a plethora of resistances could make this journey bumpy and volatile. Support comes in at the 10665, 10550 10490 while resistance comes in at the 10783, 10878, 10979 levels.
|S&P BSE Auto||20851.69||176.42|
|S&P BSE BANKEX||29940.95||134.66|
|S&P BSE Capital Goods||18628.54||234.30|
|S&P BSE Consumer Durables||20994.34||290.10|
|S&P BSE FMCG||11748.40||99.65|
|S&P BSE Healthcare||13854.89||26.77|
|S&P BSE IT||14603.08||114.58|
|S&P BSE Metals||11642.24||-77.20|
|S&P BSE Oil and Gas||13183.09||90.02|
|S&P BSE PSU||6890.93||41.06|
|S&P BSE TECk||7266.98||47.79|
|S&P BSE Smallcap||14497.69||93.67|
|S&P BSE Midcap||15163.59||122.76|
|Nifty MID100 Free||17539.50||119.70|
How are the markets looking?
Hemen Kapadia, Technical Analyst
Day - 18th Dec. 2018
Time - 13.00hrs