Market View: 25 Apr 2024
1. Major world indices ended marginally red yesterday including US indices.
2. US Tech 100 index Futures are down more than 1% and that means Indian IT stocks might feel the heat today.
3. FIIs continued their selling spree in cash segment and despite DIIs buying, Nifty still ended lower yesterday, which means selling pressure in Index heavyweight stocks is more than DIIs can absorb.
4. FIIs+DIIs jointly hold 59% short and just 30% long positions in Index Futures and today is monthly Options expiry as well.
5. On 15 min chart of NIFTY as plotted by Option Scalper, price is within the consolidation zone and last signal is Buy. So for long positions, wait for price going above the cloud and for taking short positions, wait for Sell Signal and price going below the cloud area.
6. Happy Trading.
2. US Tech 100 index Futures are down more than 1% and that means Indian IT stocks might feel the heat today.
3. FIIs continued their selling spree in cash segment and despite DIIs buying, Nifty still ended lower yesterday, which means selling pressure in Index heavyweight stocks is more than DIIs can absorb.
4. FIIs+DIIs jointly hold 59% short and just 30% long positions in Index Futures and today is monthly Options expiry as well.
5. On 15 min chart of NIFTY as plotted by Option Scalper, price is within the consolidation zone and last signal is Buy. So for long positions, wait for price going above the cloud and for taking short positions, wait for Sell Signal and price going below the cloud area.
6. Happy Trading.
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Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
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