Nifty Futures on the daily timframe manage to hold with positive sentiment for the last 4 trading sessions with EOD support coming around 10258 levels. Interestingly Nifty Futures is trading around the higher timeframe reference level 50 day MA – 10244. Dec 2017 is completely filled with events hence there is no much of sticky long term money involved so far. On Day to Day basis this December series, makret participants are dealing with more of shorter term buyers and short term sellers in Index derivatives.
Bank Nifty Futures consecutively making lower lows for the last 5 trading session on the daily charts. Price breaks the previous week low and in the last 1 hour of the trading session manage to close above friday low (Previous Week Low as well). Trading Sentiment continues to be negative as long as price holds below 25242 levels. Mondays price attempt closed the 1st Nov Gap.
MCX Crude taken short term support at 3119 and bounced back on the hourly charts. Potential medium term supports around 2900. Nymex crude futures is also currently trading around the psychological reference 50 USD/Barrel. However on the daily timeframe price rejection around 200 MA 3316 and started pulling back down and the daily sentiment holds down.