Before putting forward today’s analysis let me clarify few things. Someone blamed me for his losses in past week let me put my clarification forward for the same.
Why huge losses?
- Either You have no plan or you have excellent plan but have no faith in them.
- On my Site and Facebook page I will share only my “Objective views“,either you use them as a part of your trading system or trading plan or if they do not suit you ignore them.
- I have always suggested a stop loss of 20 points.You need to work on your execution part if you have a proper plan.
- I will continue to suggest new plan and methods so will you follow everything or the one which suits you.
- Don’t lose money and blame me for your losses if you are not doing any hard work There are no free lunches.Be loyal to a method Today NF range trade worked in both ways did you follow it?
- I can’t stop my demonstration and sharing just because you had losses.
And never ever try to malign my reputation again if am not at wrong side.I have full faith on the legal system of Indian Penal code and i will not hesitate in pulling the trigger
Below is my Interpretation of FII OI data Sheet for 20-Mar-12.
1. FII sold 7151 Contracts of NF worth 193 cores OI also decreasing by 6577 contracts.
2. As Nifty Futures was up by 19 points and OI has decreased by 6577 contracts means institutions have booked profit Nifty Future shorts.
3. Nifty 50SMA@5252, Close below this is first indication of a bearish market from medium term perceptive. For immediate short term we are in bearish trend till we are trading below 20 SMA@5353.
4. Today was a Sideways day with volatile trend in market as volatility has collapsed from 27 to 22. Nifty is consolidating before the crucial 50 SMA and most important of all 200SMA@5160. In all a Day of consolidation after we saw a fall of 272 points from the high of 5500
5. Nifty March OI has decreased by 8.9 lakh .Total OI stands at 2.58 cores contracts. Shorts are getting covered at lower levels.
7. Another Interesting aspect today equity volume kept on falling total volumes were 6571 cores shares only.
8.Total F&O turnover was 1.35 Lakh Cores with total contract traded at 350373 .
9. In equity FII bought 111 cores DII sold 120 cores.
10. 5600 CE is having highest OI of 61 Lakhs with 67K unwinding. Fresh addition is seen in 5300 and 5400 CE of 3.1 and 3.5 lakh each. Net OI stands at 50 lakh and 40 lakh each. Reason why Nifty was unable to move above 5300 today.
11. 5200 PE having highest OI of 78 lakhs with fresh addition of 2 lakhs. 5200 seems to be a firm base.Dips near 5200 NF shall be bought into. Traders on Fb page we took longs around 5259 and made some 40 points in matter of time. Patience and Trust in system is Key to success
12. Nifty Futures Trend Deciding level is 5280, Trend Changer at 5380 NF (Above this Level Bulls will rule Nifty/Below this levels Bears have upperhand).
Buy above 5283 Tgt 5297,5311 and 5332
Sell below 5230 Tgt 5200,5160,5140(Nifty Spot Levels)
I would Like to thanks everyone who has supported,trusted and have faith on me and my studies. This motivation keeps me going forward.
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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