Nifty Overview for the week (07/5/2018–11/5/2018)?
Finally, after Five consecutive positive close nifty closed negative (-0.70%) for the first time last week. As we discussed last week the gap is filled and failed to close above 10740/50. In the second half of last week we saw profit booking in most of the midcaps which shows the lack of confidence among investors ahead of the Karnataka state election.
The next two weeks could possibly be a range bound within 10500 and 10800. If the Karnataka state election result comes out against the sentiment of the investors and nifty failing to hold 10500 then we may see nifty around 10K levels again.
Call OI is still pilled up at 11000 and on the last trading session 1.8 lakhs covered and added closer at 10900, whereas Put OI is spread across both 10400 and 10500 levels. The OI suggests the lack of confidence in the upside and we may trade within the range for another two weeks/
Te PCR didn’t change much from last week moved from 1.52 to 1.49 and the futures OI increased by 1.57%
Tags | Stock Market,Nifty Tips,Nifty Trading Tips,Binary Options,Stock Market Tips