Was it a Staged Weekly Expiry as Indices End Flat After Gap-up Opening?

NIFTY O / H / L / C

16854.75/ 16945.70/ 16651.85/ 16682.65 [+5.05/+0.03%]

BANK NIFTY O / H / L / C

35705.35/ 35934.85/ 35133.80/ 35232.85  [+75.60/+0.21%]

20.29/-7.27%

FII DII Information +155 Crores

SGX @ 1910h -41 

TOP 5 CONTRIBUTORS OF NIFTY

Lifters 18 [ This is unlikely to be true as Infosys (NS:) contribution was 3%+]

Draggers 18

Web 00

TOP 3 CONTRIBUTORS OF

Lifters 571

Draggers 442

Web 129

CHART BASED DETAILS & ANALYSIS are GIVEN IN THIS VIDEO: https://youtu.be/_OJX02VgWYo

POSITIVES

IT shares remained agency all through the session regardless of intense volatility within the PM session.

Infosys led the way in which with a 3%+ shut which was the one purpose why Nifty was in a position to survive intense volatility and promoting strain.

Kotak Mahindra Financial institution Ltd. (NS:) defied the chances and ended slightly below 1800.
NEGATIVE

As soon as once more the indices fell from the upper ranges.

India Vix is down by 7%.

HDFC Financial institution (NS:) is getting hammered by the FIIs but once more. 

FIIs have been as soon as once more internet sellers for two,000+ Crores.

SUPPORT & RESISTANCE LEVELS – 

From a excessive of 16945, Nifty made a low of 16651, simply in need of 300, and ended at 16682. The market is taking part in out inside the resistances and a loud transfer is probably going on the playing cards on both aspect of the 16600-16800 in a day or two. 

TRADING INSIGHTS & OBSERVATIONS

1. Nifty opened the gap-up with a convincing lead regardless of the worldwide cues wanting weak to unfavorable. This itself was shocking however possibly the indices overreacted [or the FIIs took the opportunity to make money] and in a mode to restore the harm carried out yesterday.
2. From the beginning, Infosys appeared string and it was one of many fundamental the reason why Nifty was in a position to hit increased ranges. 
3. Nonetheless, the FIIs have been internet sellers yesterday so the indices needed to fall upon open and that’s what occurred and the Nifty fell to the road of help round 16780. It then made a superb restoration and cleared 16900+ ranges in what turned out to be the day excessive at 16945.
4. Quickly thereafter, Nifty started its downward voyage drifting progressively with a couple of bouts of help coming in between after which once more getting offered into at increased ranges. 
5. It was a typical Promote on Rise sort of state of affairs and that was presumably primarily based on the truth that the US Futures have been all through within the crimson even when was within the inexperienced. And we all know that Nifty has the tendency to comply with the crimson colour greater than the inexperienced and that’s what it did. 
6. Within the final 90 minutes, there was an intense battle occurring to defend the 16700 traces but it surely was evident that promoting was getting intensified as quickly as Nifty approached 16750.
7. At 1500h, Nifty fell sharply and it was clear that this was staged to make sure that Nifty doesn’t finish above 16700 and the Name Writers have been very profitable in doing so. 
8. Often,  the earlier shut is an efficient line of help for any value to bounce again, however right now, it didn’t occur, and as a substitute, it simply ended across the space leaving the market members guessing about its intentions for the final day of the buying and selling week. 
9. After some time, right now Nifty OHLC ranges have been beneath 17000, and ranges have been beneath 36000. Does this point out something? We must wait & watch. 
10. Ultimately. It was a battle between the groups of Infosys & Kotak Financial institution Vs. Reliance (NS:) & HDFC (NS:) Financial institution. The closing costs point out neither received, nonetheless, I really feel it’s Reliance who received although Infosys performed an essential position in not letting Nifty slide additional.

Be aware: Posted purely for informational & academic functions solely. I’m not SEBI Regd.