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FII & PRO Continues Selling, Sold 99327 Contracts In Index Options, Rupee Depreciated To A New Record Low
FII and PRO continue selling, 99327 contracts in Index options sold & rupee depreciated to a new record low. India's benchmark Index Nifty fell over 1 percent for the second consecutive day as the rupee touched a new record low of 72.73 in the afternoon trade. The benchmark Index Nifty fell 150 points or 1.32% to close at 11287.
FII & PRO in combined, have sold more than 2 times of its average in Index options which suggests that market may further go down. We expect Nifty to touch 11235 levels which is its previous months low. However if Nifty breaches 11235, then it can touch 11010 levels.
European markets declined while most Asian shares ended lower as the worries of China-US trade war haunted investors.
Nifty is opening gap down by 9 points from previous day close of 11336. Currently, Nifty is trading at 11327 as per SGX Nifty.
The US 10 Year T-Note is trading at 119.36. The Bond has broken its important low of 120.03 on 28th Feb 2018. The next support level is at 117.69 which is the low of Jan 2011. The US Dollar Index is trading at 95.12.
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