Stock Market

F&O Market Cap: Nifty Sees Lowest 11,171 Level; Closes In 30 Sessions

NSE benchmark Nifty proceeded with its weakness in market cap for the third back to back session and amended towards 11,200 levels, as it neglected to outperform the quick hurdle at 11,333.

The record ruptured essential help at 11,333 and saw the least daily shut in 30 sessions. The list shaped a bearish flame on the daily scale and shut beneath its 50-day EMA, which demonstrated that the bears were holding a tight grasp available.

Presently, till Nifty holds below 11,333 levels, it can slip towards past swing high of 11,171 and lower zones, while on the upside, the leap is seen at 11,333 then 11,400.

On the choices front, maximum open interest remained at 11,200 taken after by 11,000, while greatest Call OI was at 11,500 and after that 11,600. There was call composing at 11,400 taken after by 11,300 while loosening up was seen at all prompt strikes.

In market cap, India VIX tumbled around 2.88 percent to 14. Bank Nifty proceeded with its shortcoming and remained exceedingly unstable on its week after week expiry session and adjusted towards 26,250. It has been shaping lower from the last three sessions and is exchanging 100 points far from its significant 200-DEMA.

The file is exchanging at its two months low levels and past backings are continuously turning as opposition zones. According to the data of Nifty 50 Economic Times, presently, till it stays below 26,650 levels, shortcoming could see towards 26,000.

Nifty50 futures shut in the negative with 0.80 percent loss at 11,317. There was a long development at UBL, Divi’s Lab, Bata India, Hindustan Zinc, Biocon, HUL were found in Indian Bank, Canara Bank, BoB, Union Bank, Allahabad Bank, and IGL.

In market cap, continued long positions were seen in Gail, JSW Steel, Muthoot Finance and SRF while shorts were seen in Niittech, DishTV, Mindtree and Godrej CP.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Aanchal Ahuja is an enthusiastic, dedicated and committed professional always ready to give an instant response to the clients. She's an expert in managing the day to day office affairs, SEM/SEO, writing and fully aware of social media.

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