CNX Nifty Trading Stratergy for 10 Dec

By | December 10, 2012

1. FIIs  bought 12403 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 369.46 cores with net Open Interest increasing by 9919 contracts.

2. As CNX Nifty Future was down by 25 points with Open Interest in Index Futures increasing by 9919, so FIIs have created fresh shorts in  Nifty and Bank Nifty Futures.FDI in Multi brand retails became an excellent example of Buy Rumor Sell news

3. NS closed at 5907 highest Weekly closing in 19 months after making a high of 5950 and low of 5889. As discussed in Weekly analysis  5885  NS Holds the key for tommrow trade.

4. Resistance for Nifty has come up to 5950 and 5963 which needs to be watched closely ,Support now exists at 5885 and 5954.Trend is Buy on Dips till 5825 is not broken on closing basis.

5. Nifty  Future December  Open Interest Volume is at 2.05 cores with liquidation of  0.75  lakh in Open Interest, Cost of Carry of NF down to 7.78. Long unwinding seen in NF

6. Total Future & Option trading  volume was  at 1.29 lakh  Cores  with total contract traded at  2.09 lakh,  PCR (Put to Call Ratio) at 0.86 and VIX  at  14.62.

7.  6000 Call Option  is having highest Open Interest of 86 Lakhs with addition of 7.6 lakhs in Open Interest  ,6100 Call Option added 15 lakhs in OI with premium at 22 so price move in 6100 CE needs to be seen closely. 5500-6100 Call Options liquidated 21 lakhs in OI.Bears are warming up with such huge addition in OI.

8. 5500 Put Option is having  Open Interest of 71 lakhs with addition of 2 lakhs in OI so firm base is set up at 5500. 5800 Put Option added 1.91  lakhs in OI and having OI at 65 and 5900 Put Option added 3.6 lakhs with OI at 44 Lakhs so Bulls want to protect 5900  .5500-6100 Put Options added 10 lakhs in OI, With close above 5900 but no major addition implies high can be dicey so trade with caution.

9. FIIs  buying in Equity in tune of  648cores and DII  sold 798 cores in cash segment.Indian Rupee ,FII has sold 1200 cores of Stock futures in 6 trading sessions.INR closed  at  54.6  Live INR rate  @ http://inrliverate.blogspot.in/).

10. Nifty Futures Trend Deciding level is 5957(For Intraday Traders), Trend Changer at 5923 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).  Bank Nifty Future Trend Changer Level 12287.

Buy above 5920 Tgt 5950,5963,5987 and 6001

Sell below 5885 Tgt 5854,5839 and 5824(Nifty Spot Levels)

Disclaimer: These are my personal views and trade taken on these observation should be traded with strict Sl

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