Nifty Share Price / Nifty 50 / Nifty Futures today’s stats
Nifty spot LTP 10458 (+38, +0.37%) , Nifty April Futures LTP 10,465 , Nifty May Futures LTP 10497, Rollover Difference 32.85 points, Rollover percent 5.93% , Open Interest 357554 , OI Change 5.87%, PCR (Put Call Ratio) 1.36, Today’s Low-High 10395-10469. Top Gainer was HCL Tech and Top Loser was Vedanta. Most Open Interest Up BPCL Most Open Interest Down BEL
Nifty Share Price / Nifty Futures Todays Trend, Support, Resistance, Prediction, Analysis, Target and View is given below
Nifty Share Price / Nifty Futures today continued its bullish up move that started at 9952 spot Nifty levels when the bullish move was starting we were clearly saying that at this stage we do not see much downside and we were also saying for the near term the selling seems to be done now after almost 500 points of bullish up move most traders and investors who were scared to deploy cash or to buy around 10,000are back into the game they are very confident of Nifty Futures heading back to 11,000 levels, once again we repeat that we do not share that kind of optimism that the street based on is expecting based on multiple factors for e.g. rising crude oil prices which we have explained in our post yesterday so let us once again look at the picture very analytically the important that the screen and Nifty Charts is telling us is that momentum on the upside is reducing and that could signal that the current move may end in a matter of few days or weeks. Please keep in mind that we are not suggesting for one minute that this current move is done well it may end here or there could also be some more upside but those details we will give to our clients as to where we see this move ending and then what we are predicting for the coming time but the important point to keep in mind is that sooner or later this current move as per our analysis will end. As per our Nifty view the current trend of Nifty is actually a counter trend and towards resistance traders and investors should look to reduce longs rather than getting aggressively into buying positions. Based on our analysis we do not see buying being the right strategy to make much money now. Does that mean that the current move cannot extend another 100-200-300 points sure it can but does that mean that a fresh rally has started the answer to that based on our analysis of Nifty Share Price / Nifty Futures is no. We are not in the camp that is predicting Nifty targets of around 11,000 nor do we see any signs of major base building which will act as a support in the longer term.
Crude Oil as we have been predicting is moving higher and that does not argue well for the Indian economy. We do see Crude oil prices heading higher towards 5800-6200 levels in MCX levels and overall the trend in crude oil will remain higher. Crude oil charts have been making classic higher tops and bottoms and post a correction has now given a breakout so do expect crude oil prices to move higher very quickly and the implications of that will not be positive for Nifty Futures over the short to medium term.
From Astro cycle perspective very important time band is coming up (No we are not talking about Saturn Retrograde and its effects) there are some other astrological cycles and time cycles that are coming up towards the end of this month so whit is very crucial to see at what kind of levels Nifty would be trading at around that time band.
Nifty Futures / SGX Nifty Live Streaming Real Time Chart which updates on a real time basis is provided below for reference