Nifty closed at record high with a help of Reliance , IT , Power , FMCG and Select Financial and Auto stocks.
Where as Nifty gained 81.40 points , Sensex rallied 228.46 points and Bank Nifty was up by 152 points.
HDFC Twins and Bajaj Twins are under performing which is dragging Financial sector.
One more day for India VIX to close below 16 on yesterday which is showing the shadow of bulls foot prints .
Yesterday FIIs sold 186.46 crores which is very less selling number so no need to be panic and DIIs bought 983.46 crores.
Yesterday our markets was under performed till 01 P.M but after getting a news that P.M Modi Ji addressing at 05 P.M then markets turned to positive with a hope .
Market environment will be different every day and you must adapt yourself to this environment , if you observe Nifty in intraday that whenever it is falling more than 70 to 80 points , buyers are getting active at every dip and pulling back the markets towards higher and this is called Buy on dips markets and
Do you know why even that dip is forming in the bulls markets? its because everyday market is opening with gap-up and people started booking their profits and minor intraday correction is happening , retailers think that it is an reversal and they are shorting the market and big players are buying at dip and pulling back the markets higher and finally retailers are fooling , if you are not adopting this environment soon you will blow your account.
Another major reason is that Banking stocks under performing so every fall in Nifty is happening just because of Banking stocks along with minor profit booking so any fall will be an opportunity to buy in these markets but take weightage stocks confirmation before you enter into the market.
Coming to global markets :- Last night Dow Jones , S& P 500 closed at lower but Nasdaq closed at positive and U.K markets closed with positive bias except DAX.
Currently Dow Jones , Nasdaq and U.K futures are trading at flat .
Most of the Asian markets futures are trading at lower.
SGX Nifty is up by 20 points as of now which is trading at 15,800 near.
Coming to India :- Looks like today we may kiss 15,800 by opening gap-up based on SGX Nifty and global markets clues.
read 7 ,8 ,9 points once what we mentioned so if you see gap-up opening today rather than chasing the market , its better to wait for sometime because global markets are also not good so wait up to 10 A.M and see what is happening to markets and take the trade.
As a trader we should know when to trade and when not to trade and this is not a market to capture opening trades.
Although people are looking for erosion moves from today afternoon because most of the times erosion starts from Tuesday afternoon but this week already erosion is happening on every day by consolidating so don't surprise if markets rally in one direction.
In options chain Nifty call side OI change are in negative number , its an clear indication that markets are pure bullish so any fall we be an opportunity in this market.
The one who is looking for support and resistances based on OI data and chart analysis :- Nifty 15,900 , 16000 CE added huge OI which may act as resistance and 15,700 , 15,500 PE added huge OI which may act as support by this week.
Bank Nifty still 35,715 is acting as resistance and support at 35,120 and 35,000 will be the supports for Bank Nifty, if it breaks 35,000 then expect sharp fall.
All The Best , Trade With Discipline.