Nifty/Banknifty - Your view 1st November 2017

Nifty closed at 10335 down by 0.27% while Bank Nifty closed at 25019 up by 0.12%. Share and discuss your views for tomorrow.

Nifty went bearish today, as expected. The chart displays a bearish engulfing, a sign that more downsides are yet to come. Apart from that it does seem that over all the markets are turning bad. The support for tomorrow is 10340. And if that is breached, we should worry even if the bull market is raging over the long term.

India VIX rose again by 2.70%, the SGX Nifty, however, has risen, trading flat, 0.03% higher at 10.18 PM IST. None of the signs are bullish. Going over to the OI data:


The participants depict a bearish turn, the FIIs and DIIs specially. Over all tomorrow’s verdict is bearish.

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Chances of correction in Nifty, support seems to be at 10315. Metal rally seems to be over