Banknifty Nifty options Analysis for stock market prediction
Game Play Of FII’s :- Today FII have sold 14,700.56 with new added positions of Buying of 13,653.37 Net sell comes out -1,047.19
The fear of Loosing the Trend of Nifty today Made the Gap Up Opening But Huge Sell orders made Open=High Strategy and Selling started in Market from a Life time High of Nifty is 20110 on 12 Sep A huge sell off seen average Buying as Support at a key level of 19914.
Prediction: May be this acted as a level where smart Professional Traders used it to cover their shorts in which they may be trapped and they may have managed to Average their Short Positions at Life time High.
Why Gap Up Of Nifty not sustained
possible reason that nifty gap up not sustained and strong sell off comes may be the sellers taken a clue from banknifty and Finnifty because these Indices started showing weakness at their opening price and they are also in the phase of recovery only .
Another reason may be the expiry of Finnifty today and market participation may be more through options of ce or pe options strategies .
Prediction of Stock Market tomorrow
Considering the overall trend of DII Buying which today supported the market ( Net Buying of 259 Crore Apprx.) It Seems If market start showing profit booking the support from DIIs may appear near key levels and they may not Buy aggresively at high .
Key Level Support of Nifty 19830
19830 considering the pe writing positions and volumes of Breakout emerged at this Level.
