Last friday China Cuts the Interest rate for the sixth time in this year. Global Markets cheered on last friday. We could expect one more sentimental Gap Up on Monday in Nifty and Bank Nifty futures this attempt could try to close the professional gap created in Nifty Futures at 8358 and BankNifty Futures at 18240. SGX Nifty is already indicating a positive momentum. Both the daily Sentiment and Weekly Sentiment tends to remain positive.
Nifty Futures Weekly Sentiment
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India VIX is at 16.17 and the volatility in the market is completely dried during the last week trading sessions. Nifty 8300CE holds higher open interest which in turn indicates mondays sentimental gap up could again face or test for selling and attempt to close the sentimental gap. Expiry season is nearing so not much movement is expect in the market. possibly a sideways to bearish actions post monday’s gap up is expected.
Bank Nifty Weekly Sentiment
