![]() ![]() PSU banks and FMCG shares witnessed declines, while metal and auto shares experienced gains.The Nifty managed to stay above the 19,650 level, bouncing back from its mid-afternoon low of 19,615.95.Key equity indices closed almost unchanged on Tuesday.On the downside, if prices slip below 45,600 levels than 45,300 will be on the cards and immediate resistance stands at 46,350 levels. The Bank Nifty was also under pressure, forming a bearish candlestick on the daily charts. The highest call side open interest is at 46,000 & 47,000 and the highest put side open interest is at 46,000 & 45,000 levels and the Bank Nifty PCR ratio stands at 0.74 levels which indicates call sellers are dominant at the present level. The breakout in the Banking index is expected above 45,950 levels and on the lower side the immediate support stands at 45,600 levels. The Banking index on the intraday chart has formed a falling channel pattern and is trading within the range of 250 points. It was a super volatile day for the banking index where the index swing both ways during the trading sessions and finally closed with a loss of 78 points. The Bank Nifty on the daily chart is trading in a rising wedge pattern and has continuously taken support at 9 EMA which is placed at 45,630 levels. On the lower side, intraday supports stand at 19,620 levels. The breakout of a wedge pattern on the intraday chart stands above 19,720 levels and above that 19,800 levels are likely to be seen. ![]() Volatility and choppiness have found their way to Dalal Street again. The highest call side open interest is at 19,800 & 19,700 and the highest put side open interest is at 19,500 & 19,700 levels and the Nifty PCR ratio stands at 0.68 levels which indicates call sellers are dominant at the present level. Nifty failed to show any single hourly close above the prior hour’s high since the morning indicated selling pressure on every rise for the intraday. The benchmark index on the daily chart is trading within the rising channel pattern and continues to trade in a higher high higher low formation.įrom the last three trading sessions, the Nifty is taking strong support near its 9–day exponential moving average and it is acting as an anchor point for the index. ![]() The Nifty index closed flat on 25th July after witnessing a marginal gap-up opening and traded within the falling wedge pattern formed on the intraday chart within the 70 points range. ![]()
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