Markets opened higher but were unable to sustain the gains which led the index to close in red. On the sectoral Capital Goods and Realty led the fall whereas FMCG and Healthcare ended with marginal gains. The advance decline ratio was in favour of declining counters (Advances = 867/ Declines=1449).
Open Interest of derivative segment decreased to Rs 114192.11 Cr vs Rs 114533.44 Cr.
FIIs net buyers in index futures to the amount of Rs 561.22 Cr and in index options net sellers to the amount of Rs 304.43 Cr.
Put-Call Ratio at 0.92 vs 1.01. (Bullish).
The undertone is positive in the market and there is high probability that buying at lower level is likely to emerge.
Nifty Spot
- Three Black Crows bearish candle pattern after Neutral Body reversal sign..
- Short term indicator turn down with negative divergence..
- Overall short term momentum bearish, but be careful, we are in extreme manipulated market.. Avoid shorting in extended low..
( Wait & Watch In morning China Manufacturing PMI data gives further direction to all world market & our market awaiting an important SBI result )
- In intraday trading on 23rd May. If Nifty spot trades blw 6094 & breaks 6074 than go for short for 6040-6026 trgts
If NIfty trades abve 6094 for atleast one hour than go for buy with 6074 s/l for 6112/6128/6146 trgts
- Resistance for up move at 6105/6127/6145.
- Supports at 6074/6040/6028
