Nifty Futures Quick Flip 5min Charts
Nifty Futures quick flip holding its buy mode since last two trading sessions current supports are coming around thin band of 10671 – 10678 levels. Short term sentiments are expected to change only if Nifty breaking and sustaining below the thin band of support levels. Near term resistance is expected around 10800 levels in Nifty Spot. Aggressive call writing is seen from the market participants in the last week.
Sector Sentiment
sector sentiment improved a lot and currently as on Nov 16th – 15 sectors are holding positive compared to 11 sectors on Nov 15th Market close. Overall market volatility is expected to be remain muted for some more period. Nifty Auto and Nifty media are currently showing signs of short-term negative extreme sentiment could be poised for short-term trend reversal in those counter.
Sectors like Nifty Bank, Nifty Financial Services, Nifty Energy, Nifty FMCG , Nifty Infra, Nifty Pharma, Nifty Pvt Bank, Nifty PSU Bank, Nifty Service Sector started trading above 200MA. Still not much of sectoral weekness seen at this point in medium term perspective.
