{"id":49127,"date":"2017-12-28T13:55:17","date_gmt":"2017-12-28T13:55:17","guid":{"rendered":"http:\/\/www.bnreport.com\/tech-view-small-bodied-black-candle-shows-nifty-is-indecisive\/"},"modified":"2017-12-28T13:55:17","modified_gmt":"2017-12-28T13:55:17","slug":"tech-view-small-bodied-black-candle-shows-nifty-is-indecisive","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/tech-view-small-bodied-black-candle-shows-nifty-is-indecisive\/","title":{"rendered":"Tech view: Small-bodied black candle shows Nifty is indecisive"},"content":{"rendered":"

The Nifty50 index witnessed volatility as F&O contracts got rolled over on the expiry of the December series on Thursday. The index remained rangebound through the session, before the index settled bellow the technically significant 10,490 level. <\/p>\n

The Nifty50 opened at 10,498 and touched a high and low of 10,534 and 10,460, respectively, before closing 12.85 points, or 0.12 per cent, down at 10,477. In the process, it formed a small black body on the candles. <\/p>\n

For the coming sessions, the 10,490 level will remain technically important to watch out for. The index needs to move past this level to attempt a breakout again, said Milan Vaishnav, Technical Analyst, Gemstone Equity Research and Advisory. <\/p>\n

A small black body emerged on the charts. Though this is insignificant, it underlines the indecisive and tentative mood of the market participants, Vaishnav said. <\/p>\n

The domestic market underperformed other Asian markets<\/a> on Thursday. "We expect Nifty<\/a> to face resistance in the 10,490-10,535 zone for some time," Vaishnav said. <\/p>\n

It would be prudent for traders to wait for signs of strength rather than buying the dip in anticipation of a fresh breakout, said Mazhar Mohammad, Chief Strategist-Technical Research & Trading Advisory, Chartviewindia.in. <\/p>\n

On the option fronts, maximum Put open interest<\/a> (OI) for the January series stood at 10,000 followed 10,300, while maximum Call OI was at 10,700 followed by 10,800 and 10,500. <\/p>\n

Open interest remained scattered at the beginning of the new series and the option band signified a broader trading band between 10,300 and 10,700 levels for the coming sessions, said Chandan Taparia, Derivatives and Technical Analyst at Motilal Oswal Financial Services<\/a>. <\/p>\n

India<\/a> VIX, the volatility index on the National Stock Exchange, fell 1.56 per cent to 12.29. "VIX has to hold below 13-12.50 zones to support the overall bullish bias of the market," Taparia said. <\/p>\n

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The post Tech view: Small-bodied black candle shows Nifty is indecisive<\/a> appeared first on News Wire Now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nifty50 index witnessed volatility as F&O contracts got ..<\/p>\n","protected":false},"author":1,"featured_media":49128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-49127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTech view: Small-bodied black candle shows Nifty is indecisive - Business News Report<\/title>\n<meta name=\"description\" content=\"The Nifty50 index witnessed volatility as F&O contracts got ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/tech-view-small-bodied-black-candle-shows-nifty-is-indecisive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech view: Small-bodied black candle shows Nifty is indecisive - 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