Nifty’s support shifts higher; likely to reclaim 10K mark

India Infoline News Service | Mumbai | October 07, 2017 09:35 IST

On the upside, 10,000 is followed by 10,040 and 10,080 may be placed as the important resistance levels.

Benchmark indices showed handsome upward breakout on Friday. Nifty ended at 9,979 level, up by 91 points while Sensex ended at 31,814 level, up by 222 points. There were 1,136 advances, 511 declines and 320 unchanged stocks on NSE, reflecting strong positive sentiments in the market. 
 
On the downside, 9890 and 9900 are strong support levels for the 50-stocks index. On the daily technical charts, Nifty has been making higher highs and higher lows for past few trading sessions. On the upside, 10,000 is followed by 10,040 and 10,080 may be placed as the important resistance levels.
 
On the options front, maximum put open interest stood at strike price 9,800 followed by 9,900 while maximum call open interest remained intact at 10,000 followed by 10,100. Significant put writing was seen at strike prices 9,900, 10,000, 9,800 and 9,700 while fresh call writing was seen at strike price 10,100.
 
India VIX fell for the sixth consecutive session and slipped 5.06 per cent to 11.11. Falling volatility has supported the market to hold on to its strength.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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