F&O: Nifty negates higher highs & lows in signs of bearishness

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

Nifty50 on Monday opened gap down due to dampened global cues, but managed to recover above the 17,600 level in the initial hour. However, weakness swept across once again and caused the index to drift towards immediate support at the 17,350 level. Nifty closed the day below the 17,400 level with a loss of around 190 points.

Nifty formed an Inverted Bearish Hammer kind of candle on the daily scale and negated the formation of higher highs and lows of the last four sessions. Now, till it holds below the 17,600 level, any bounce could face selling pressure for a downside move towards 17,350 and 17,272 levels, while on upside a key hurdle exists at the 17,777 level.

India VIX moved up sharply by 14.86 per cent from 15.23 to 17.49 level. A spurt in India VIX may cause volatile swings and trigger some profit booking in the market. VIX is hovering at its highest levels in last 76 trading sessions.

On the options front, maximum Put Open Interest stoos at 17,000 followed by 17,500 levels, while maximum Call OI was at 17,500 followed by 18,000 levels. Call writing was seen at 17,500 and then 17,700 levels, while there was Put writing at 17,200 and then 17,400 levels and unwinding at 17,600. Options data suggested a broader trading range between 17,000 and 17,800 levels while the immediate trading range stood between 17, 200 and 17,600 levels.

Bank Nifty opened with a gap down in line with the broader market and some sort of consolidation was seen in the initial hour, but weakened thereafter and fell towards the 37,000 level. It closed with a loss of 666 points by negating the formation of higher highs of the last four sessions. It formed a bearish candle on the daily scale with the long upper shadow, which indicates concern for the bulls. Now, it has to respect an immediate support of 36,850 level to witness a bounce towards 37,500 and 37,800 levels while on the downside support was seen at the 36,500 level.

Nifty futures closed negative with a loss of 1.40 per cent at the 17,356 level. On the stocks front, the bullish setup was seen in HUL, Marico, PVR, ICICI Pru, Bajaj Finserv, Nestle India and HCL Tech but weak in Tata Steel, Jindal Steel, NMDC, JSW Steel, SAIL, Indiabulls Housing Finance, India Mart, Tata Chemical, UPL, PEL, BHEL, Canara Bank, Glenmark, Aurobindo Pharma, Havells, DLF, STAR, Gujarat Gas, LIC Housing Finance, RBL Bank, Muthoot Finance, Tata Motors, Ipca Labs, Sun TV, Dr Reddy’s and Cummins India.

(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


PNP records 32 additional COVID-19 cases

© Philippine National Police PNP records 32 additional COVID-19 cases as of October 28, 2021 The Philippine National Police (PNP) recorded 32 more cases of COVID-19 among its personnel, bringing ... Read more »

China and Serbia praise 'steel friendship' amid growing ties

1 / 4Serbia ChinaChinese Foreign Minister Wang Yi, left, elbow bumps with Serbian President Aleksandar Vucic after a news conference at the Serbia Palace in Belgrade, Serbia, Thursday, Oct. 28, ... Read more »

First Thing: every sector failing to move fast enough on climate

Good morning. © Provided by The Guardian Photograph: Martin Meissner/AP Every sector is failing to move quickly enough to make the “transformational change” needed to keep global heating below 1.5C ... Read more »

The make-or-break climate summit: here's what's at stake at Cop26

Cop26 may involve dozens of world leaders, cost billions of pounds, generate reams of technical jargon and be billed as the last chance to prevent calamitous global heating, but at ... Read more »

Dumaguete, Lubang at critical risk for COVID-19 —OCTA

dumaguete covid-19 Dumaguete and Lubang in Occidental Mindoro are now classified at critical risk for COVID-19, the OCTA Research group said Thursday.   10.28.21 outside NCR. Dumaguete and Lubang classified ... Read more »

Govt asks IRCTC to share 50% of revenue from convenience fee

MUMBAI: The Ministry of Railways has through a letter asked Indian Railways Catering and Transportation Corporation to share 50 per cent of the revenue from the convenience fee with it, ... Read more »

6 Brilliant Gifting Ideas To Make This Year's Diwali Extra Special

Diwali is just around the corner, and shops are now running out of really good gifts. People are going to go for the generic mithai ka dabba once everything else ... Read more »

RNLI 'should have speed exemptions on call-outs'

© Getty Images Jason Norman held the Queen’s Baton to mark the Commonwealth Games in 2014 A Guernsey politician is calling for all emergency vehicles to have blue light exemptions ... Read more »

Jack Carty should be in Ireland squad ahead of other players, says former Grand Slam winner

© Provided by Extra.ie Former Ireland international Fiona Hayes has called out the ongoing absence of Jack Carty from Andy Farrell’s Ireland squads. The Connacht star has not been named ... Read more »

Pegasus spyware issue India's internal matter: Israeli envoy

Israel does not allow companies like NSO to sell their products to non-governmental actors, newly-appointed Israeli Ambassador to India Naor Gilon said on Thursday while describing the row over the ... Read more »

WATCH: Tiny tot adjusts her crown on ramp like a boss, video goes viral

© Provided by DNA The viral video of a little girl adjusting her crown on-ramp like a boss has won the hearts of many netizens on social media. In the video ... Read more »

EFC missed golden chance to seal “spectacular” £22.5m-rated gem, Rafa will be gutted - opinion

© Provided by Football FanCast 2021-10-23T191346Z_642794363_UP1EHAN1HEW9K_RTRMADP_3_SOCCER-ITALY-BGN-MIL-REPORT It was an unusually quiet transfer window for Everton over the summer, and new manager Rafa Benitez may be regretting missing out on some ... Read more »

'It remains a concern': Patrick Vallance warns current high COVID levels could spike again

The government’s chief scientific advisor warned the situation with COVID-19 in the UK is unpredictable (PA Images) The government's chief scientific adviser has warned the future situation of COVID-19 in ... Read more »

The six top candidates for the Barcelona job: Xavi, Gallardo, Pirlo…

© PA Images xavi-hernandez-Al-Sadd-manager-20191 The inevitable has finally happened – Ronald Koeman has been sacked as Barcelona manager.  Koeman has finally put out of his misery after a 1-0 defeat ... Read more »

Alibaba's 11.11 bets big on sustainability and inclusivity

SINGAPORE – On 27 October 2021, Alibaba Group held a virtual Asia Pacific press conference for the upcoming 13th 11.11 Global Shopping Festival, commonly known as ‘11.11’. Featuring more than ... Read more »

Halloween chocolate rush sweetens Hershey's 2021 outlook

© Reuters/Mike Blake A Hershey’s chocolate bar is shown in this photo illustration in Encinitas (Reuters) -Hershey Co raised its annual net sales and adjusted earnings forecast on Thursday, helped ... Read more »

Andy Murray makes defiant message to have 'deep runs' in tournaments after Vienna loss

Former world No 1 Andy Murray has posted a defiant message following his latest loss at the Vienna Open. The three-time grand slam champion lost in straight sets in the ... Read more »

Police pursuit in Geylang East: Two men arrested after cop hit by reversing car

SINGAPORE — Two men were detained following a police pursuit on Thursday morning (27 October), after a Traffic Police (TP) officer was allegedly hit by a driver who was reversing ... Read more »

Love Island star now advertising Greggs after being booted off show at Casa Amor

LOVE Island's Savanna Darnell has landed huge new job advertising Greggs after being booted off the show at Casa Amor. The reality star, 26, shot to fame on the fourth ... Read more »

Syn Architects tops wedding chapel in China with illuminated "moon"

An illuminated semicircular window above a pool of water simulates “a moon that never sets” on the roof of a ceremonial hall designed by Syn Architects, in the dramatic landscape ... Read more »

I ballooned to 15st on diet of wine, beer and chicken wings, confesses Ed Sheeran

ED Sheeran has told how he ballooned to 15½st when he quit touring — after boozing every day and gorging on fried food. The pop superstar, 30, recalls: “I loved ... Read more »

TikTok user unearths FILTHY joke hidden in Shrek – as fans complain ‘my childhood is ruined'

TIKTOK users have been left shocked after a viral video on the platform unveiled a seemingly explicit scene in a beloved children's film. Fans of the video-sharing app were baffled ... Read more »

Britain drafts COP26 deal on global aviation emissions

© Reuters/STEPHANE MAHE Planes are seen parked at Toulouse-Blagnac international airport By Kate Abnett and Allison Lampert BRUSSELS (Reuters) – Britain is asking countries to push for a global target ... Read more »

UK's spookiest street names revealed and how much it costs to live on them

Are you brave enough to live on Devil’s Lane or Coffin Close? How about going trick or treating along Skull House Lane or Hell Nook? Dead Lane, Hallow Drive, Spook ... Read more »

Matric learners hope they will do well despite impact of Covid-19 pandemic on learning

© Provided by Independent Online (IOL) Pretoria – Matric learners in Tshwane are hopeful that despite the impact of the Covid-19 pandemic on learning and teaching, they will do well ... Read more »

NBA Rookie Round Up: Jalen Green, Evan Mobley, Scottie Barnes and Chris Duarte shine bright

The 2021 NBA Draft class was renowned for its potential superstar talent in players like Cade Cunningham, Jalen Green, Evan Mobley, Scottie Barnes and Jalen Suggs, to name a few. ... Read more »

Lacking a true dominator, 750-horsepower tracks see best of several Cup playoff drivers

© Provided by NBC Sports Two races remain in 2021, both at tracks utilizing the 750-horsepower rules package. They’ll stand as the final two races on the quantifiably popular package ... Read more »

Adele admits she looks a 'bald eagle' without make-up and prefers heels over flats

© Provided by Independent Online (IOL) Adele is back with new music and a new look, and we simply cannot get enough of her. When the 33-year-old megastar teased her ... Read more »

Painters in Thailand left dangling from high-rise condominium after angry resident cuts support rope

A pair of painters in Thailand were left dangling 26 stories above the ground after a resident inside the high-rise condominium, seemingly frustrated after they appeared outside her room without ... Read more »

23-year-old nears Middlesbrough return following lengthy absence

© Provided by Football League World Marcus Browne Middlesbrough Warm up Middlesbrough have been without Marcus Browne for over nine months now, with the winger suffering an ACL injury during ... Read more »

Volkswagen and Stellantis take financial hit amid chip shortage

The carmakers Volkswagen and Stellantis suffered financial hits in the third quarter of 2021 as the automotive sector continued to struggle with the global shortage of computer chips caused by ... Read more »

Limerick journalist Tom English makes shortlist for William Hill Sports Book of the Year

THIS IS YOUR Everest, co-authored by Limerick journalist Tom English, is one of six books on the shortlist for the 2021 William Hill Sports Book of the Year award. The ... Read more »

SpaceX is launching its 4th astronaut crew to the International Space Station for NASA on Halloween - watch it live

© SpaceX The Crew-3 astronauts, left to right: ESA astronaut Matthias Maurer and NASA astronauts Thomas Marshburn, Raja Chari, and Kayla Barron. SpaceX SpaceX plans to launch its fourth NASA ... Read more »

Apprentice beats the mister: Dionisi downs Allegri as Juventus lose again

© Provided by The Guardian Photograph: Chris Ricco/Getty Images Before kick-off at Allianz Stadium, Alessio Dionisi posed for photographs with Massimiliano Allegri. There was a faint awkwardness to the scene, ... Read more »

Bombay High Court grants bail to Aryan Khan in cruise drugs case

Aryan Khan. Image source: Instagram The Bombay High Court on October 28 granted bail to Shah Rukh Khan’s son Aryan Khan, Munmun Dhamecha and Arbaaz Seth Merchantt in the Mumbai ... Read more »

Ireland Baldwin 'threatened' over Rust shooting

© Bang Showbiz Ireland Baldwin Ireland Baldwin has received “threatening comments” in the wake of her dad, Alec Baldwin, being involved in an accidental shooting on the set of ‘Rust’. ... Read more »

Singapore Airlines schedules A380 flights lasting just 60 MINUTES

© Provided by Daily Mail MailOnline logo Short-haul flights don’t get any fancier than this (unless you’re in a private jet). From Thursday, November 4, Singapore Airlines – voted the ... 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