Nifty 50 opened today, bared unchanged, with a 6.30 pts (0.03%) gap up. It also touched 19600 briefly but then dipped until the afternoon, making a low around 19500 levels.
However, it recovered later, breaking through the 19600 level and closing the day with a gain of 0.18%.
- At long last, the Nifty 50 has taken out 19600 levels, paving the path to 19800. Any dips here on are expected to halt around 19500, a point where bulls took control today.
- Remarkably, all it took was just one hourly candle to breach 19600 from all the way down from the 19500 levels, which shows the strength of the bulls.
Below are the Top Movers from our Live Market Feed:
- SSWL (-1.89%)
2. SNOWMAN (-1.84%)
Below is the position that was closed yesterday
- IDFCFIRSTB: +19.1% in a month
Talking about Quant models, under the most popular configuration, 'Back Up' didn’t generate a signal today as it didn’t meet its quantitative metrics. However, 'Quick Short' closed with a return of +1.77%.
Coming back to the report...
The highest CE OI is at 19700, and PE at 19500 levels. This means markets are expected to revolve around these levels for tomorrow’s expiry.
Levels Worth Monitoring Tomorrow
Decent writing is observed on both sides of the ATM strike prices, indicating a likelihood of sideways movement in tomorrow's expiry. Any unwinding could influence the market's direction.
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 making any investment decisions.
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