Nifty 50 opened barely unchanged with a gap down of 0.65 pts (0%). The index started the day with a lack of significant movement. However, it reached a peak within the first hour and maintained a sideways movement until the end of the trading session.
As the trading day wrapped up, the Nifty 50 ended at 19694, a loss of -0.19%.
- In the daily chart, today's price range is within the previous day's range, and the previous day's range is within the day before that.
- This explains the current loss in momentum. Once the price breaks out of the range, the index will either continue its uptrend or undergo a minor setback.
Below is the Top Mover from our Live Market Feed:
- TALBROAUTO (20.00%)
Under the most popular configuration:
- 'Quick Short' recorded a loss of -5.15% today.
- On the other hand, 'Back Up' didn't generate a signal today as the model didn't meet its quantitative metrics.
All the signals recommended by the brokers are currently live.
Coming back to the report…
The highest CE OI is at 19800, while the PE is at 19700 levels. This suggests that the markets are expected to revolve around these levels in tomorrow's session.
Levels Worth Monitoring Tomorrow
The index is currently hovering at the support. If this level is breached, the next support is between 19600 and 19550. On the other hand, the immediate resistance is at 19800.
Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.