Nifty Weekly Chart
Nifty Weekly Chart
Nifty weekly chart shows that Nifty is stuck in a range between 5399 and 4786. Weekly NMA indicator chart has given buy signal for Nifty. The level 5399 is very important level because Nifty monthly chart is also showing same level for breakout of Nifty. Keep watch on RSI (14) whether it is breaking the trend line or not. Basically this is short term bearish indicator. At the last session Nifty closed below 5277. If Nifty stay below 5277 on closing basis at the next session then it will take support at 5165 otherwise Nifty may hit 5380 in the next week.
Indian VIX Weekly Chart
It is good sign for Indian Stock Market that Indian VIX has closed below of its weekly pivot 21.43. Presently it is 20. Next weekly support and resistance appear at 17.94 and 23.46 respectively. and on daily basis, support and resistance appear at 19.07 and 21.34 respectively. Daily pivot is 20.34.
Option OI Chart
As per Option OI chart, traders are bullish on July series. The Nifty July range may be defined as 5100 to 5500.
FII Activity Chart
FIIs, still in buying mood, indicates bullish sentiment of the India stock market.
As per Nifty hourly chart, Nifty may remain bearish till and around 5222 level. Recovery or upward strength may appear above 5275 on intra day basis.
Any specific queries, write at markethypothesis@gmail.com.
If their is any trend change or major changes in Nifty movement, then I will alert you timely.
Best of luck.
Today at the end of the day nifty makes its low.
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