Nifty Futures Hourly
Nifty reversed for the week from the bottom and currently both nifty and bank nifty futures are at overbought levels and nifty could maintain a sideways to downtrend in shorter term probably till the RBI policy any surprise move from RBI will decide the trend direction later. Near term resistance zone for Nifty and bank nifty futures at 8762 and 19331.
Nifty Option Open Interest
Nifty shows a weak put writing at 8400 levels(spot) which might act as support zone currently and the developing open interest pattern has to be monitored as we are in the early start of the series. on the calls side major put writing is not yet visible and currently 9000CE OTM call strike holds the higher open interest.
Key Events to Watch out for Next Week
| Friday April 03 2015 | Previous | |
| 5:00 PM | Foreign Reserves 28/MAR | $340B |
| 5:00 PM | Deposit Growth YoY MAR 15 | 11.60% |
| 5:00 PM | Bank Loan Growth 4/APR | 10.20% |
| Monday April 06 2015 | Previous | |
| 10:30 AM | HSBC India Services PMI MAR | 53.9 |
| Tuesday April 07 2015 | Previous | |
| 11:00 AM | RBI Interest Rate Decision | 7.50% |
| Friday April 10 2015 | Previous | |
| 5:30 PM | Industrial Production YoY FEB | 2.60% |
| 5:30 PM | Manufacturing Production YoY FEB | 3.30% |
Related Readings and Observations
The post Nifty and Bank Nifty April Futures at Overbought levels appeared first on Marketcalls.