INSUBCONTINENT EXCLUSIVE:
NSE benchmark Nifty kicked off a holiday-shortened week on a feeble note on Monday, as technical charts signalled overbought condition and
global cues remained subdued.
Before closing 73.75 points down at 11,355, the 50-share index shuttled between 11,340 and 11,406 levels
During the process, the index formed a Falling Window, which means a downside gap on the charts
A Falling Window implies potentially, the weakness might persist in the next session, though it would need confirmation, said Milan
nearest support at its short-term 20-DMA
said.
Momentum indicator moving average convergence divergence, or MACD, on Monday signalled a bearish crossovers on 117 counters on NSE
Some of the stocks on the list included Punjab National Bank, Indian Oil Corporation, India Cements, Bank of India, Andhra Bank and HPCL
critical support available in the form of 9-day EMA, which offered support to the Nifty50 during corrections in this leg of the upward move
(OI) was at 11,000 followed by 11,200, while maximum Call OI was at 11,500, followed by 11,400
There was fresh Call writing at 11,500 and 11,400 levels while marginal Put writing was seen at 11,200
India VIX moved up 4.08 per cent to 13.3750
