All you need to know as a trader or Investor
Hong Kong exchange opened after long holiday and opened with around 800 points lower.
Sensex closed at 40,966.86, losing 188 points or 0.46 percent from the previous day's close. Nifty finished with a loss of 63 points, or 0.52 percent, at 12,055.80.
Today's Session may again see a tepid start. Technically, Nifty is below the 50-day moving average (DMA) level that is a negative sign for the market in the short term.
Significant call writing was seen at the 12,100 strike price, which added 22.51 lakh contracts and heavy put writing at 11900 and 11800 level which indicates nifty further weakness.
Watch complete option analysis below:
What to look for:
In early session nifty may start with negative bias however there is possibility to pull back after half of the session because a very classic hammer appeared after the downtrend which show some pull back so first hour is very crucial. So wait nifty to breach 12010 for making any view to short side and if it pull back from this level and cross 12150 then it can continue the rally in upside.