Day Trading Guide: Experts say that immediate support for NSE Nifty lies near 17,760 levels and the next overhead resistance can be seen around 18,000 levels.
Day's trading guide for today: After posting gains in two straight sessions, Indian stocks closed lower on Friday on weak global cues as investors worried about the possibility of further tightening by the Federal Reserve and its impact on the economy. expressed concern. The NSE Nifty ended marginally lower by 36 points at 17,856, while the BSE Sensex ended 123 points lower at 60,682. Bank Nifty closed at 41,559, up 5 points. Broader market indices ended on a positive note, even as the advance/decline ratio stood at 1.08:1.
According to market experts, a small range candle has formed on the daily chart with minor upper and lower shadows. Technically, this pattern signals the formation of a doji type candlestick pattern. But, once this pattern is formed in the middle of a range movement, the predictive value of this doji may decrease.
Day trading guide for stock market today
Talking on the outlook for Nifty today, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, "After the sharp rally on February 8, the market has been consolidating in the last few sessions and could be a part of the range movement. Nifty may finally break the upside pattern in the near term.The immediate support for NSE Nifty lies at 17,760 levels and the next overhead resistance can be seen around 18,000 levels.
Giving outlook for Nifty in the coming week, Rohan Patil, Technical Analyst, SAMCO Securities said, "In the coming week, 17,600 will be the holy support for the index, while 18,000 could be an immediate hurdle. A break above 18,000 level will Will encourage buying. Towards the level of 18,250."
Ruchit Jain, Lead Research, 5paisa.com, expecting a rally on Dalal Street said, "Global markets have done well recently, but our markets have not seen such a move and have underperformed global peers The main reason for the poor performance has been selling by FIIs who have sold equities in the cash segment and have also been sellers in the index futures segment. Their 'long short ratio' in the index futures segment is around 19 per cent. These positions are less heavily weighted and Any positive trigger may lead to short covering by them. This will be the major trigger for the market and hence, traders should keep a close eye on their positions."
nifty call put option data
On Nifty Call Put Ratio, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, "Nifty Weekly Expiry Option Chain still shows maximum PE writers position at 17800PE of over 1.37 Lakh OI contracts followed by 70 thousand OI contracts." 17000PE of 17000PE. Unchanged CE writers position with more than 1.34 lakh OI contracts at 18000CE strike and around one lakh OI contracts at 18500CE. PCR_OI at 17800 is 1.58 which acts as support for the index while immediate upside is at 18000 It is shadowed.
bank nifty call put option data
"The 41500 strike straddle is still aggressive in the weekly expiry options chain where PE and CE writers hold positions of 1.14 lakh and 1.01 lakh OI contracts. CE writers' positions are visible at the forward strikes of 44000 CE and 42000 CE - 82 each. thousand and with over 70 thousand OI contracts,” said Shilpa Raut.
day trading stocks to buy today
Unveiling the intraday stocks for today, stock market experts - Sumeet Bagadia, Executive Director, Choice Broking and Ganesh Dongre, Senior Manager - Technical Research, Anand Rathi recommend four stocks to buy today.
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