Nifty Trading Strategy for 05 Dec

By | December 4, 2012

 

1. FIIs  sold 8967 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 251.05 cores with net Open Interest increasing by 4927 contracts.

2. As Nse Nifty Future was up by 2 points with Open Interest in Index Futures increasing by 4927, so FIIs booked profits in longs of  Nifty and Bank Nifty Futures.

3. NS closed at 5889 after making a high of 5895 and low of 5859 and typically forming an Inside Day candlestick pattern which can be a reversal pattern if 5855 is broken or a pause pattern if 5900 is broken on Upside. Mystery will resolve in next 2 days.  As we have discussed Bull looks tired after fast and furious rise and consolidation will be name of game. All said and done we had an excellent debate on FDI on Multi brand retail and its was pleasure listening to Mrs. Sushma Swaraj presenting her points.

4. Resistance for Nifty has come up to 5900 and 5925 which needs to be watched closely ,Support now exists at 5855 and 5825.Trend is Buy on Dips till 5825 is not broken on closing basis.

5. Nifty  Future December  Open Interest Volume is at 1.97 cores with addition of  0.36  lakh in Open Interest, Cost of Carry of NF at 9.94

6. Total Future & Option trading  volume was  at 0.86 lakh  Cores  with total contract traded at new 52 week low  1.30 lakh,  PCR (Put to Call Ratio) at 0.75 and VIX  at  15.91.  PCR has come down to 0.75 should be watched closely as it suggests another big move is on the cards.

7.  6000 Call Option  is having highest Open Interest of 82 Lakhs with addition of 8.1 lakhs in Open Interest  ,5900 Call Option added 1.4 lakhs in OI as Nifty closed below 5900 and should now act as resistance. 5500-6100 Call Options liquidated 13.2 lakhs in OI.

8. 5500 Put Option is having  Open Interest of 65 lakhs with addition of 7.8 lakhs in OI so firm base is set up at 5500. 5700 Put Option added 0.93  lakhs in OI and having OI at 57.7 and 5800 Put Option added 0.65 lakhs with OI at 57.6 Lakhs so Bulls want to protect 5800 .5500-6100 Put Options added 15.8 lakhs in OI.

9. FIIs  buying in Equity in tune of  539.95 cores and DII  sold 434.10 cores in cash segment.Indian Rupee ,INR closed  at  54.9  Live INR rate  @ http://inrliverate.blogspot.in/).

10. Nifty Futures Trend Deciding level is 5890(For Intraday Traders), Trend Changer at 5907 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).  Bank Nifty Future Trend Changer Level 12180.

Buy above 5900 Tgt 5925,5945 and 5963

Sell below 5880 Tgt 5867,5855 and 5825(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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