Nifty Outlook for October Series

By | September 26, 2014

FII_1

  • Nifty after yesterday decline of 100 points is quiet well trading in the price channel band as seen in below chart. 7864/7990 are 2 numbers which need to be watched closely in coming 3 trading session, Holding the same we can see a quick bounce to 8020/8040 and holding the same we will make a dash towards new high on or before 23 October. As per Bias theory also we are still in neutral zone and near an important 1.023 support so be cautious on shorts. Do remember We have a 3 trading holiday from 2/3/6 October

NIfty Price Channel

Drive Wealth

Nifty Daily Bias

 

  • Nifty Future October Open Interest Volume is at 1.57  lakh with addition of 34.2  lakh, 1.26 cores NF got rollovered from September series,
  • Total Future & Option trading volume was   at 5.32  lakh core highest ever in Indian markets with total contract traded at 2.7 lakh. PCR @0.84.
  • 8200  CE  OI at 36.2  lakh  suggesting wall of resistance , 8100 CE  added 32.2 lakh so bears are making another wall of resistance around 8100, 8000 CE no major change in OI suggesting 8000 can be captured today on NF.
  • 7800 PE OI@ 38.7  lakhs so  base @ 7000 at the start of series . 7900 PE OI@38.6  lakh  so 7900 also will act as strong support in case of any fall today.
  • FII’s sold 851 cores in Equity and DII bought 818 cores in cash segment.INR closed at 61.34.

 

Buy above 7936 Tgt 7954,7984 and 8020 (Nifty Spot Levels)

Sell below 7911 Tgt 7870 , 7853 and 7820 (Nifty Spot Levels)

 

Click Here to Like Facebook Page get Real time updates

2 thoughts on “Nifty Outlook for October Series

  1. Ram Ganesh

    Dear Bramesh Sir, Do you know any broker who provides facility for placing trigger orders? If that was the case I could just place trigger orders and go to office and take rest; since all your calls have targets and SL as well. ( for e.g; buy if NIFTY crosses above 7936; if buy initiated; sell @ 7954 ; also SL placed for 7916 and vice versa);
    I would be able to breath more freely; today I missed Tata motors sell Call below 500; and if I had automatic trigerring ; then I would have made money with your posts every month. Once again thank you for your posts. ( I was a little tensed yesterday since I didn’t see your daily call post on your blog.

Leave a Reply