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Nifty, After a massive 1300 points rally in this expiry , today finally take a break and bulls seems to lose some ground in today’s trade.
The 50 share Nifty ended 166 points lower at 12,771 whereas bank nifty after a massive 5600 points rally in this expiry gave up 850 points today.
Bank nifty closed the day 28903 with a sharp nearly 2.85% intraday fall and closed near days low.
In the future and options market, most of the indices closed red today in between 0.7 to 3.4% today.
Top Gainer Looser Of the Day
Tatachemical rallied more than 8% in intraday trade today. Bel, Bataindia, Vedl Jindalsteel all move 2 to 8% intraday
despite nifty massive selling.
On the other hand most of the Banks Like Federalbank, SBIN, Icici Bank, Rbl Bank all loose ground nearly 5% each.
In the cash Market, India Cement which was previously in the Fno market gained nearly 13% intraday.
Fii & Dii Activity of the day:
Although Dii again sold today good news Fii still buying in Nifty.
Today also Fii net buyer in the Market as per data received from NSE website.
Fill net buys 1180.61 cr while Dii again sold 2554.94 cr in today’s trading session
Which helps Nifty not to loose major intraday ground.
Technical View On Market :
As we said in yesterday post to keep reserve cash ready for any dips comes in the market one should not lose the opportunity due to lack of capital.
Today market gave an excellent dip, or we may call bear trap technically.
As per the technical analysis, those who went short should not hold shorts as Market may bounce back sharply and pass 13000 levels eventually.
For technical levels in nifty reread this post.
Once again we advise everyone to keep reserve cash if Market gives further dips in future keep patients and add more longs in proper levels only.
Remember, one should add only appropriate levels without adding longs randomly.
To Get Best research Technical Calls Join Us .
Disclaimer: The views and investment tips expressed by investment experts on Stocktradingfno.com are for educational purposes only. Before taking any investment decisions, consult with your financial advisors.
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