Yesterday, NIFTY opened with a small gap-up at 22,426 and tried to move up. The index stayed the same for a long time after the first hour of trade. At the end of the day, NIFTY was up 34 points, or 0.15%, at 22,402.
A flat end to the U.S. market The markets in Europe also ended the day with no change.
Expectations
The dealing on Asian markets is not clear.
The U.S. Futures market is not moving.
A little bit of red is seen on the GIFT NIFTY at 22,354.
As a whole, these factors point to a flat to gap-down market beginning.
It is safe to buy NIFTY at 22,350, 22,280, and 22,200. At 22,440, 22,510, and 22,600, we can expect opposition.
With a resistance of 22,500, NIFTY has the biggest call OI. You can put a lot of money on the queue at 22,300. PCR is 0.98.
FPIs from outside India sold stock worth a total of Rs 2,511 crores on Friday. Indian institutional investors bought shares worth a total of Rs 3,809 crores.
Nikkei stayed in trade and got stuck around the 22,450 level. Bank Nifty also paid attention to the Open Interest values for the end of the day yesterday.
Like us, markets around the world are going sideways.
Today is the end of the month, and the OI marks at 22,300 and 22,500 look important. NIFTY has been stuck in a very small range for the past two days.
Today, 22,400 crosses have about a 100-point premium, which is about the same as yesterday. Let’s see what the market does after the 50-point drop.
You don’t need to worry about anything today if the index stays in these levels. Have fun with the trades that end every month, and trade with the levels!
