Good morning

I have started a small appeal today

SGX Nifty gap up/down makes market untable and untradable for sometic traders

Please watch and share this as much as possible.

Good morning

FEAR OF HEIGHTS?
Nifty very close to all-time highs
After long time, no gap up or down
Bond yields up but Dollar Index down to 106.5
Basic texture of “Buy on dips” is intact

GLOBAL CUES
Best week for US in nearly 5 months
Biggest takeaway was strength in Nasdaq
In 2 days, Nadaq is up nearly 10%
Mean reversion trade might be on in IT space
IT, new age stocks may extend gains in India

MARKET STATS
Nifty PCR at 1.21 vs 1.06

Cash Market
FII +3958 Cr
DII +615 Cr
Total = 4573 Cr

Nifty Nov Futures
Premium at 74.30 pts vs 64.45 pts

FIIs in Index Futures
Net Buy +2982 Cr
Long +16500
Short -14400

FII Longs in Index Futures
Nov 10 53%
Nov 11 62%

NIFTY OUTLOOK
Huge Call build-up seen at 18,500
Put writers confident at 18,200 and 18,300
First major support for Nifty at 18,225-18,300
Biggest support zone for Nifty at 18,050-18,150
Buying in first support zone will be a good strategy

BANK NIFTY OUTLOOK
Bank Nifty’s move largely driven by HDFC Bank
Today could be a profit taking day on Bank Nifty
Friday’s high of 42,345 will be a big resistance
Shorting Bank Nifty with 42,400 stop may work
Buy zone for Bank Nifty will emerge at 41,500

NIFTY IT OUTLOOK
Nifty IT now above 20, 50 and 100 DMA
Nifty IT needs 3% rally to test 200 DMA
Real test of IT rally would be at 200 DMA of 30,540

The setup has played out beautifully so far. Bank Nifty is weak and IT is very strong

Good morning

Market's overbought levels came down yesterday which is good

MARKET STATS
Cash Market Flows
FII +1089 Cr
DII +47 Cr

Nifty Nov Futures Premium at 50 Pts vs 74.3 Pts
Nifty Put Call ratio at 1.03 vs 1.21

FIIs in Index Futures
Sell 696 Cr
Long -4700
Short +2200

FIIs in Index Futures
Long 60%
Short 40%

GLOBAL CUES
US Bond yields lower, Dollar Index flat
Brent crude down to $93 from the cusp of $97
If crude < $90, big rally, if crude above >$100, big decline
Need to see how Rupee behaves today after big decline

NIFTY OUTLOOK
In near-term, Nifty placed better than Bank Nifty
Nifty has support of IT stocks and HDFC as well
Yesterday, Nifty respected the first support zone
On Nifty, 18225-18300 now represents first support
Major support for Nifty at 18,050-18,100
First resistance at yesterday high of 18,400
Major resistance at 18,500 from options data

BANK NIFTY OUTLOOK
Expiry of Fin Nifty today, HDFC twins crucial
Bank Nifty has seen rotation from ICICI to HDFC Bk
Yesterday’s high of 42,231 first resistance
Friday’s high of 42,345 biggest resistance
If Bank Nifty crosses 42,345, expect huge rally
Bank Nifty’s base has moved up to 41,800