The fall started when negative divergence triggered. Consolidation happened midway forming Descending Triangle target of which is reached. Now again price has been consolidating forming a Megaphone Pattern. There is a Positive Divergence which triggered on last Friday. Target of Megaphone is 360 points upside.
OI Table: Nothing much changed on this parameter. 11000 remains the tough hurdle for bulls due to highest Call OI. On the lower side 10000 Put is strong support for bulls.
The range of 9950 to 11760 has been retraced by approximately 93%.
Nifty Options contracts: On 12th of October FIIs and Pro sold 161867 option contracts whereas Clients bought 242106 Option contracts. DIIs sold 80239 option contracts. It indicates that FIIs, Pro and DIIs are yet to start buying options contracts.
Q2nd results are rolling out. RIL will declare it tomorrow. So also Infy and HDFC Bank.
Traders will watch carefully the IL&FS impact on banking and NBFC sectors this season.
OI Table: Nothing much changed on this parameter. 11000 remains the tough hurdle for bulls due to highest Call OI. On the lower side 10000 Put is strong support for bulls.
The range of 9950 to 11760 has been retraced by approximately 93%.
Nifty Options contracts: On 12th of October FIIs and Pro sold 161867 option contracts whereas Clients bought 242106 Option contracts. DIIs sold 80239 option contracts. It indicates that FIIs, Pro and DIIs are yet to start buying options contracts.
Q2nd results are rolling out. RIL will declare it tomorrow. So also Infy and HDFC Bank.
Traders will watch carefully the IL&FS impact on banking and NBFC sectors this season.