Dhanvarsha crucial Nifty Futures Levels and market prediction

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Flat to negative opening is expected with increased volatility , higher crude prices started creating pressure on economy …Indian rupee is gaining strength which is impacting on margins of IT companies as IT companies are doing well in $ terms and $ is loosing ground ,maximum indicators are at over bought zone . Japanese candle sticks  are giving reversal signals in many stocks …Market came down  wid  increased volume on Friday as profit booking was noticed , now market is in short term sell zone…advised to book profit at each swing high as market lost its upward momentum and now turned its direction on hourly chart .

 Nifty open interest decreased by 1291000 is indicating that traders exited from the position and holding their cash due to uncertainty …FIIs initiating  short positions in index futures since 1 week and were net sellers in index futures too …IIP numbers to be announced today ..expectation is wide range so market will not react much on it …surveys are indicating 2  to 5 …telecom companies will be in pressure due to filing of charge sheet and OMCs due to crude rates…Nifty weekly chart ended  with gravestone doji ...trend reversal candle ....

Have a gud day