Nifty made small bearish weekly candle on the week ending 5th May.
Nifty opened the week at 9311.45, made a high of 9450.65, low of 9297.95 and closed the week at 9400.9. Thus it closed the week with a gain of 115.6 points.
On the daily charts, First day of the week Nifty has made an inside bullish candle (harami) and closed above 10 day moving average.
On the next day 9th May Hang Seng, Nikkei 225, NASDAQ-100, S&P500 made a fresh high. But Nifty stayed in a small range and made small bearish candle.
On 10th May Nifty made a bullish breakout above Friday’s high and made a fresh record high and managed to closed above 9400. Metrological Dept. predicted a ‘normal’ Monsoon, expect 100 per cent rainfall instead of 96 per cent as predicted earlier which helped market to move up. Positive cues from Asian Markets after firm Chinese CPI and PPI data too lifted the market sentiment. FIIS are buyers in cash segment which also contributed the market move. FIIS inflow contributed to rupees strength as well. The breadth of the market deteriorated in the second half of the week on account of profit booking after a surge in the Nifty
The highest Put base is at the 9300 strike while the highest Call base is at the 9500 strike. Highest put base suggest that Nifty has a good support in the area of 9300 and a Target area of 9500.
Indiavix fell 1.5% closed at 10.9 which is in the low zone area. After a long time FIIS become net buyers in Cash segment , but in derivative segment they were sellers.
Bearish divergence has been seen in Oscillators. Nifty P/E ratio above 23.5 indicate market is expensive.
Nifty opened the week at 9311.45, made a high of 9450.65, low of 9297.95 and closed the week at 9400.9. Thus it closed the week with a gain of 115.6 points.
On the daily charts, First day of the week Nifty has made an inside bullish candle (harami) and closed above 10 day moving average.
On the next day 9th May Hang Seng, Nikkei 225, NASDAQ-100, S&P500 made a fresh high. But Nifty stayed in a small range and made small bearish candle.
On 10th May Nifty made a bullish breakout above Friday’s high and made a fresh record high and managed to closed above 9400. Metrological Dept. predicted a ‘normal’ Monsoon, expect 100 per cent rainfall instead of 96 per cent as predicted earlier which helped market to move up. Positive cues from Asian Markets after firm Chinese CPI and PPI data too lifted the market sentiment. FIIS are buyers in cash segment which also contributed the market move. FIIS inflow contributed to rupees strength as well. The breadth of the market deteriorated in the second half of the week on account of profit booking after a surge in the Nifty
The highest Put base is at the 9300 strike while the highest Call base is at the 9500 strike. Highest put base suggest that Nifty has a good support in the area of 9300 and a Target area of 9500.
Indiavix fell 1.5% closed at 10.9 which is in the low zone area. After a long time FIIS become net buyers in Cash segment , but in derivative segment they were sellers.
Bearish divergence has been seen in Oscillators. Nifty P/E ratio above 23.5 indicate market is expensive.
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