Friday the 13th occurs when the thirteenth day of a month falls on Friday, which superstition holds to be a day of good or bad luck.
Twice during this year market has given a surprise bullish move on the day in february and march when it was mostly pessimistic at that time.
This time around, there are indications of strong correction today. FIIs have been net sellers of 700 crores in index futures as well as in stock futures. The near strike calls have all accumulated open interest and puts have shed open interest, which is also pointing to bearishness though the overall PCR still remains at 1.28.
Yesterday markets made multiple attempts above 5000 level, but could not sustain to it. Today also there might be attempts to scale 5010 and even 5045, but then it looks like markets might correct heavily from that level and can also reach 4850 levels
Resistance levels : 4980, 5011, 5045
Support levels : 4925, 4882, 4847
Happy Trading
www.tripleint.com
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