Daily Nifty analysis thread and next day prediction! October 24, 2017

The Nifty behaved as expected today, the markets were bullish through out. There was a bit of weakness but the bulls did seem to be in control. The India VIX was down 5.96% making it very likely that there will be a significant upmove tomorrow.

The Heikin Ashi charts have turned green, further cementing the bullish outlook.

However the FII data is not encouraging, a lot of the market participants have changed their views over the last session. FIIs have increased their bear calls. So tomorrow it will be a clash between FIIs and the Clients, who’ve taken the largest counter bet. For me tomorrow’s prediction is a correction.


Disclaimer: These are my own views, please do your own research before investing. This thread is solely for debate.

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FII have decreased their longs and increased their shorts. compared to on 16th and 17th oct their longs were 2.4lakh longs and 1.2lakh shorts now its 2.2 lakh longs and 1.4 lakh shorts.

data source downloaded from (https://www.nseindia.com/products/content/derivatives/equities/homepage_fo.htm)

Tomorrow is a sell on rise guys.

tomorrow Bankifty up 500 points

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@haribabu sir, but how?
the fundamental data , which u always follow is indicating otherwise.
is it becoz of big bank bailout ? (https://economictimes.indiatimes.com/industry/banking/finance/modi-govt-announces-mega-rs-2-lakh-11-thousand-crore-bank-recapitalisation-and-rs-7-lakh-crore-road-plan/articleshow/61202075.cms)

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I agree, it is going to be an UP day tomorrow. If the Bank Nifty gpes up 500 pts, Nifty will tag along as well. Also the F&O data, global cues are all positive. The only negative that might come out is from Spain or Rocket-man.

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The PCR for nifty stands at 1.67, I think all of these together is a cause for concern. I really doubt the bullish sentiments for tomorrows market, for me at best it will end flat.

Again, somebody cheated the retail traders today. Any guess???

PCR near Expiry has no meaning.
look at PCR of next month series