F&O: Nifty forms bearish candle on daily scale; VIX sees a spike

Nifty, Nifty50, Nifty F&O, India Vix, F&O, Options data

Nifty50 opened with a gap up on Friday and soared to a new all-time high level of 17,947, just a few points away from the landmark 18,000 mark. Some profit booking was seen at higher levels, but the market ended slightly below the opening level.

The index formed a bearish candle on the daily scale, and a bullish candle on the weekly scale. Nifty continued to form higher highs and lows since the last eight weeks. Now, it has to continue to hold above the 17,777 level for a bounce towards 18,000 level, whereas support was seen at 17,700 and 17,500 levels.

India VIX moved up by 2.45 per cent from 16.49 to 17 level. A spurt in India VIX in the last few sessions has triggered volatile swings and now it has to cool down below the 15-14 zone to continue the smooth ride of the market.

On the options front, maximum Put Open Interest was seen at the 17,000 level followed by the 17,500 level, while maximum Call OI stood at 18,000 followed by 18,500 level. There was Call writing at 18,500 and then 18,000 levels, while Put writing was seen at 17,900 and then 17,800 levels. Options data suggested a broader trading range between 17,500 and 18,000 levels.

Bank Nifty opened positive and crossed the 38,100 level in the initial tick and touched its previous record high level. However, it formed a bearish candle on the daily scale due to slight profit booking, but it has been forming higher lows from the last three sessions.

The index formed a bullish candle on the weekly scale and respected the lows of the past four weeks. Now, it has to continue to hold above the 37,750 level to witness a bounce towards 38,100 and 38,500 levels, while on the downside major support is seen at 37,500 and 37,350 levels.

Nifty futures closed positive with marginal gains of 0.09 per cent at 17,849 level. Among stocks, the trade setup looked bullish in Tata Chemicals, Asian Paint, LTI, M&M, Eicher Motor, Berger Paint, DLF, HCL Tech, Bharti Airtel, HDFC Bank, Grasim, Infosys and HDFC but weak in Apollo Hospital, Lalpath Labs, Tata Steel, Jindal Steel, Cummins Inds, Idfc First Bank, AU Bank, Bank Baroda, Can Bank, ACC, Siemens, SAIL, Ambuja Cement, Tata Consumer Products and PNB.

(Chandan Taparia is Technical & Derivative Analyst at MOFSL. Investors are advised to consult financial advisers before taking an investment calls based on these observations)

Internet Explorer Channel Network
News Related

OTHER NEWS

To benefit from strong secondary market momentum, these IPOs could hit Dalal Street by November

The strong momentum in the secondary market, with the benchmark indices trading at record highs, is proving to be a game-changer for the primary market as the rush of initial ... Read more »

Sensex hits fresh high, Nifty tops 18,500 despite weak global cues

NEW DELHI: Domestic stocks kicked off the week on a solid note even as crude prices hit a multi-year high and data showed the Chinese economic growth slowed in September ... Read more »

Top 10 options to bet on as markets scale record highs

It was a historic week for the Indian equities as the Nifty50 scaled 18,300 and the BSE Sensex climbed above 61,000 mark for the first time and also held these ... Read more »

Trade Spotlight | What should investors do with India Cements, Mindtree and Persistent Systems?

The bulls provided strong support to the equity market for the sixth consecutive session on October 14. As a result, the benchmark indices scaled above 61,000 on the BSE Sensex ... Read more »

Daily Voice | Markets may see 5-8% correction soon but Sensex may hit 200,000 by 2030: Gaurav Dua of Sharekhan

Gaurav Dua, Head Capital Market Strategy at Sharekhan by BNP Paribas, believes it would not be a surprise if the benchmark indices correct by 5-8 percent since the markets have ... Read more »

Slideshow | Quarterly earnings to drive markets; Nifty may move to 18,500-18,750: Experts

Indian markets ended higher in the truncated week ended on October 14, achieving new milestones with the Sensex crossing 61,000 and Nifty surpassing 18,300 for the first time. In the ... Read more »

Hot Stocks | Here is why you should buy HBL Power Systems and sell United Spirts

Market had a soft opening to the last week on October 11 taking into consideration some nervousness in the global bourses. However, situation settled thereafter as we witnessed a strong ... Read more »

Market LIVE Updates: SGX Nifty indicates a flat to positive start for the Indian indices

Read more »

Auto, metals and IT stocks look strong: Analysts

Technical analysts see the Nifty heading to 18,600 this week and the Bank Nifty touching 40,000 — both hitting record highs in the process. Indian benchmark indices gained over 2% ... Read more »

Trade Setup: Nifty upside may remain capped near 18,500; avoid shorts

In the previous technical note, it was mentioned that the price behavior of domestic headline equity index Nifty against the levels of 18,200 will decide the trend for the day. ... Read more »

These 8 F&O stocks look good for next few sessions, upside momentum to continue

What is open interest and PCR data indicating? Before we go to what is Open Interest and PCR data indicating, let us first understand what is Open Interest and Put ... Read more »

Expect 8-12% market returns in next one year: Ajay Kejriwal of Choice Broking

Ajay Kejriwal, President at Choice Broking feels that Infosys (the growth leader in the sector) and TCS (a sector leader) will continue to attract investors’ interest, mainly on the back ... Read more »

DAILY VOICE | Give decent weightage to these 5 sectors while transforming portfolio: Vinod Nair of Geojit

Vinod Nair, Head of Research at Geojit Financial Services feels travel & tourism, hotel and aviation sectors are going to witness huge demand as the tourism sector re-opens. “My best ... Read more »

Butterfly: A tool to trade safe in a highly volatile market

When volatility increases in the market, trader tend to switch strategies to gauge their payoff. In the normal course, a plain vanilla option (1 strike Call or Put, buy or ... Read more »

Stick with the best, leave the rest!

The Indian equity market has created history by hitting milestone after milestone! It started with Nifty crossing the 16,000 mark on August 3, sprinting to 17 000 on August 31 ... Read more »

DAILY VOICE | Hold IT stocks to enjoy multi-fold returns, pick hotels & tourism stocks over aviation: Mohit Nigam of Hem Securities

Mohit Nigam, Head – PMS at Hem Securities, who is a chartered accountant by training, has about six years of experience in the capital market, said they are very bullish ... Read more »

Analysed | Market hits new milestone with gain of 2% on positive cues

Indian markets remained under bulls control as it ended higher in all four trading session of the truncated week ended on October 14, achieving new milestones with Sensex crossing 61,000 ... Read more »

These 6 stocks look attractive as Nifty likely to cross 18,500 by next weekly expiry: Nagaraj Shetti of HDFC Securities

Nagaraj Shetti, Technical Research Analyst at HDFC Securities feels there is a higher probability of Nifty Bank crossing above 40,000 mark by Diwali. “The overall chart pattern of Bank Nifty ... Read more »

Bet on these 3 stocks for double-digit returns in short term

This week, the Nifty has given a strong breakout and sustained above the 18,000 mark which shows strong positive market sentiment for the medium term. The price action maintained its ... Read more »

These 4 stocks likely to help Bank Nifty scale 40,000: Rajesh Palviya of Axis Securities

Rajesh Palviya, VP – Technical and Derivative Research at Axis Securities, feels the Nifty50 is now headed towards 18,500, followed by 18,700. “If Nifty manages to close above 18,700 in the coming week, ... Read more »

Sensex jumps 50% from last Dussehra to scale 61,000 mark. 169 stocks give multibagger returns

India’s equity markets have generated huge wealth for investors since Dussehra last year as the benchmark indices scaled new highs, even though there was a pause in April-May due to ... Read more »

DAILY VOICE | Higher energy prices, coal crisis, supply chain bottlenecks could hamper economic growth in near term: Poonam Tandon of IndiaFirst Life

Poonam Tandon, Chief Investment Officer at IndiaFirst Life Insurance Company, who has over 26 years of experience in the financial services sector, expects festive push, pent-up demand, good monsoon, improving ... Read more »

F&O: With bullish candle, higher lows, Nifty set to go even higher

Nifty50 on Thursday opened with a gap up and the bulls cheered the index to a new lifetime high of 18,350 level yet again. Buying interest was seen throughout the ... Read more »

Tech View: Nifty signals breakout, could be eyeing the 8,500 mark

NEW DELHI: Nifty50 on Thursday climbed for the sixth straight session and in the process topped the 18,300 mark. This was the second day when the index saw a gap-up ... Read more »

Technical View | Nifty forms bullish candle on weekly & daily charts, experts see it marching towards 18,500

The bulls are in no mood to relent, with the Nifty closing above the 18,300-mark for the first time on October 14, continuing its northward journey for the sixth consecutive ... Read more »

Taking Stock: Bull charge pushes Sensex, Nifty to new highs; bank, metal, IT stocks shine

The market extended the rally to the sixth consecutive session on October 14 in a holiday-shortened week led by IT majors who posted good numbers for the second quarter. Easing ... Read more »

Sensex surpasses 61,000 for first time; investors richer by Rs 68 lakh crore in FY22

The benchmark BSE Sensex surpassed the 61,000 mark for the first time on October 14, taking 14 sessions to add more than 1,000 points from 60,000 on September 24. The ... Read more »

Nifty scales 18,300, Sensex summits 61,000: Five factors behind the rally

Bulls kept on charging for the sixth consecutive session on October 14, despite some ups and downs in foreign funds flow, setting the stage perfect for celebrating the Dussehra. The ... Read more »

Sensex tops 61,000 level: Key factors driving market

NEW DELHI: Domestic benchmark equity indices hit fresh record highs in the opening tick even as central banks across the world tightened money supply and inflation rose in major economies. ... Read more »

Trade Spotlight | What to do with Tata Motors, BHEL, M&M, Tata Chemicals stocks?

The Indian market consistently remained in an uncharted territory as the benchmark indices ended at fresh record closing highs on October 13, outperforming its global peers. The BSE Sensex rallied ... Read more »

Daily Voice | No major correction soon, but energy prices, inflation may spark volatility, says Jyoti Roy of Angel One

Although the Indian economy sees a flush in liquidity, there’s no major correction around the corner and no major impact is likely till the middle of 2022 or until the US ... Read more »

Nifty bulls come of age, get licence to thrill

Mumbai: Indian stocks scaled new heights with the Nifty closing above 18,000 for the first time ever on Wednesday, shrugging off nervous sentiment in Asian markets, which were weighed down ... Read more »

Trade Setup: No signs of weakness, avoid shorts, keep purchases limited

The domestic equity market put up a rock-solid show once again on Wednesday, as it not only staged a fresh breakout, but also scaled and closed at new lifetime highs. ... Read more »

Stocks that top performing PMSes held in their portfolios in Sept

NEW DELHI: Midcap-focused PMS funds, holding arguably some of the most fundamentally sound stocks, were among the best performers in September. Barring select sectoral and thematic funds, most schemes managed ... Read more »

F&O: Options suggest Nifty trading range is between 17,700 and 18,500

Nifty opened with a gap up on Wednesday and escalated throughout the day to touch yet another lifetime high of 18,197 level. The index saw a consolidation breakout on the ... Read more »

Tech view: Nifty forms strong bullish candle; fresh longs build up on dips

NEW DELHI: Nifty50 formed a strong bullish candle as the bulls showed their strength on Wednesday. Buying across sectors, especially in auto and metals, took the winning run into the ... Read more »

Taking Stock: Record run continues as Nifty ends above 18,150, Sensex jumps 452 points

India’s benchmark indices extended gains for the fifth straight session on October 13, led by the Tata group stocks and support from IT, metal and infrastructure names. At close, the ... Read more »

10 stocks that saw maximum buying and selling by mutual funds

Inflows into equity and equity-oriented mutual fund (MF) schemes continued to be low for the second consecutive month, but inflows into systematic investment plans (SIPs) remained strong and touched over ... Read more »

India's biggest hedge fund projects a 15-20% market correction in 6 months

MUMBAI: The buoyant domestic equity market may be in for its first rude awakening by the time the country rings in the New Year after a stupendous rally in the ... Read more »

Sensex, Nifty hit fresh highs: Key factors steering market

NEW DELHI: Domestic benchmark equity indices hit fresh record highs in the opening tick on Wednesday even as the global market was jittery. Buying continued in auto and realty names ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic