Indice NIFTY 50Mis à jour NIFTY for 2nd December
On friday, Markets fell by 95 points but bigger news came in the evening when NSO released GDP figures for Q2FY20. The GDP growth of 4.5% is definitely on lower side and so were all the figures except govt expenditure, which increased in Q2FY20 from Q1FY20. I have talked in great detail about these figures in the video posted on youtube under channel Market Movers India, so please ckeck that. My post on this same forum for 18th November does talk about figures estimated by various agencies. The latest were NCAER. All have given simliar figures for FY19-20 of about 4.5-5.0 %. SBI few weeks ago put out the figure of 4.3%. So these figures by NSO yesterday didn't come as a surprise. Had it been 4% or lesser, there would be problem. This much decline in economy is already factored in markets, that's what I think. And hence, on Monday I do not expect a great fall. In the first half, some reaction might be there but soon it will pull up. Let's check usual data.
1) FII & DII data: FIIs were net Sellers by 1992 Crs and DIIs were Net buyers by 953 Crs. On Thurday, final figures reveal, FIIs were net byers in Equity and stock futures but net Sellers in index futures. Net net they were buyers. The FII buying continues.
2) Option chain data: On PUT side, highest total OI is at 12000 and highest Put writing is seen at 11800. On all three strikes of 11900, 12000 & 12100 there is decent total OI and hence assuming 12000 as support is quite safe for tomorrow. ON CALL side, Highest total OI and Call writing both are at 12100 and figures are also high. So for tomorrow, 12100 can serve as resistance.
3) Charts: On Daily chart, Nifty made a strong red candle with lower high, lower low and lower close as compared to yesterday. On hourly chart if we draw fibonacci retracement, we see 61.8% level near 11990. and on 15 min chart there is buying area between 11980 and 11960. So this zone of 11960 to 11990 can act as a buying area from where Nifty may reverse and go up if it falls till these levels. Buy with a SL of around 11950.
All the best. Happy trading.
1) FII & DII data: FIIs were net Sellers by 1992 Crs and DIIs were Net buyers by 953 Crs. On Thurday, final figures reveal, FIIs were net byers in Equity and stock futures but net Sellers in index futures. Net net they were buyers. The FII buying continues.
2) Option chain data: On PUT side, highest total OI is at 12000 and highest Put writing is seen at 11800. On all three strikes of 11900, 12000 & 12100 there is decent total OI and hence assuming 12000 as support is quite safe for tomorrow. ON CALL side, Highest total OI and Call writing both are at 12100 and figures are also high. So for tomorrow, 12100 can serve as resistance.
3) Charts: On Daily chart, Nifty made a strong red candle with lower high, lower low and lower close as compared to yesterday. On hourly chart if we draw fibonacci retracement, we see 61.8% level near 11990. and on 15 min chart there is buying area between 11980 and 11960. So this zone of 11960 to 11990 can act as a buying area from where Nifty may reverse and go up if it falls till these levels. Buy with a SL of around 11950.
All the best. Happy trading.
Note
JUST IN: TheGST collection for November stood at 1.03 lakh crores. This figure came as surprise since figures for September and October were around 91.92k Crs and 95.38 K crs. So a figure above 1lakh Crs is definitelya positive surprise. That GDP figure of 4.5 is alredy factored in our markets but this figure was not factored in and I think this may give a positive push to markets.
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