NIFTY 18297/-0.10%/10-5-23
- The Open Price was +44 points compared to the 10-5 Open price which was comparatively a mildly bullish start to the day.
- Nifty made a low at 18270 which was a mildly upward shift to the lower base and a bullish sign.
- The Close Price was -61 points from the open price which is a bearish sign.
- The Close - High difference was -93 points which is also a bearish sign.
- Nifty made a higher high, a higher low, and a lower close.
- The price action is bullish.
BANK NIFTY 43475/+0.33%/10-5-23
- The Open Price was +260 points compared to the 10-5 Open price which was comparatively a very bullish start to the day.
- Bank Nifty made a low at 43367 which is a significant upward shift to the lower base and a bullish sign.
- The Close Price was -60 points from the open price which indicates indecisiveness.
- The Close - High difference was -299 points which is a bearish sign.
- Bank Nifty made a higher high, a higher low, and a higher close.
- The price action is bullish.
Insights
- India Vix ended at 13.22/+1.07%.
- Nifty Lifters (there is something wrong with the contribution numbers so not sharing) - Adani Enterprises (NS:ADEL), HUL, Asian Paints (NS:ASPN), Adani Ports, and HDFC
- Nifty Draggers - LT, Reliance (NS:RELI). ITC, Dr. Reddy’s Labs, and JSW Steel (NS:JSTL)
- Bank Nifty Lifter (+89) - ICICI Bank (NS:ICBK), Axis Bank (NS:AXBK), and IndusInd Bank (NS:INBK)
- Bank Nifty Draggers (-8) - Federal Bank (NS:FED) and Kotak Bank
- This is the 4th close in a row where Nifty had to struggle to hold on to the previous close and today it failed to hold on to 18300+ levels as well.
- It was a very choppy session and there were fast and wide swings in the indices as well as in the prices of the options.
- There is a significant drop in the net volumes traded by the FIIs-DIIs. We will have to see how this plays out tomorrow.
FII-DII data
FIIs +837 Crores/ DIIs -200 Crores/ Net +637 Crores
Support
17800-18000 & 42000-42400
Resistance
18350-400 & 43600-800-44000