morning thoughts...
The intimated pressure continued on f/o expiry and the markets closed below 30 dema for october series paving way for november series on a weak note.
The coming session is likely to witness more pressure and volatility and the strategy remains to sell on rise to resistances mentioned.
Amidst the volatility many good fundamental and high beta stocks could be available at low cost and there remains major oppurtunity as wealth can be generated in those sector so one must accumulate at all dips
On the lower side 8380 is a crucial support for the nifty and 8750 will act as resistance for the nifty whereas bank nifty has supports at 19050 levels and resistance at 19900 levels.
With continued fluctuation in vix and rising macd a indicator of distribution cluster at higher levels and continued call writing at higher levels will make a stiff resistance for the markets as it inches up , however the pcr and dollar index comes in support so there can be a surprising move any time to re test the resistance levels.
Uranus and mercury are giving way to mars in month of november in a day or two making pave for a confusing and deceptive mode for equity and commodity markets.
Coming to the commodity markets the broad structure of bullions looks weak with intermediate rise or buying , however a big upmove will come in month of december for bullions , energy and base metals to trade mixed with buy on dips and sell on rallies.
Yesterdays calls sent
The intimated pressure continued on f/o expiry and the markets closed below 30 dema for october series paving way for november series on a weak note.
The coming session is likely to witness more pressure and volatility and the strategy remains to sell on rise to resistances mentioned.
Amidst the volatility many good fundamental and high beta stocks could be available at low cost and there remains major oppurtunity as wealth can be generated in those sector so one must accumulate at all dips
On the lower side 8380 is a crucial support for the nifty and 8750 will act as resistance for the nifty whereas bank nifty has supports at 19050 levels and resistance at 19900 levels.
With continued fluctuation in vix and rising macd a indicator of distribution cluster at higher levels and continued call writing at higher levels will make a stiff resistance for the markets as it inches up , however the pcr and dollar index comes in support so there can be a surprising move any time to re test the resistance levels.
Uranus and mercury are giving way to mars in month of november in a day or two making pave for a confusing and deceptive mode for equity and commodity markets.
Coming to the commodity markets the broad structure of bullions looks weak with intermediate rise or buying , however a big upmove will come in month of december for bullions , energy and base metals to trade mixed with buy on dips and sell on rallies.
Yesterdays calls sent
