Nifty Trading Strategy for 04 Dec

By | December 3, 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 5871 after making a high of 5899 and low of 5855. Bull looks tired after fast and furious rise and consolidation will be name of game. With Political bickering going all around volatility will also be seen in Indices. Negative divergence are still seen in Hourly charts but that should not be used to create shorts till prices does not show a follow up on downside.

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  3  lakh in Open Interest, Cost of Carry of NF at 11.63

6. Total Future & Option trading  volume was  at 0.86 lakh  Cores  with total contract traded at  1.42 lakh,  PCR (Put to Call Ratio) at 0.93 and VIX  at  15.62.

7.  6000 Call Option  is having highest Open Interest of 73 Lakhs with addition of 8.29 lakhs in Open Interest  ,5900 Call Option added 2.5 lakhs in OI as Nifty closed below 5900 and should now act as resistance. 5500-6100 Call Options liquidated 17.5 lakhs in OI.

8. 5500 Put Option is having  Open Interest of 57.8 lakhs with addition of 8.5 lakhs in OI so firm base is set up at 5500. 5700 Put Option added 3.6  lakhs in OI and having OI at 57.7 and 5800 Put Option added 7.2 lakhs with OI at 56.9 Lakhs so Bulls want to protect 5800 .5500-6100 Put Options added 24 lakhs in OI so bulls have upper hand.

9. FIIs  buying in Equity in tune of  302 cores and DII  sold 335 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 5885(For Intraday Traders), Trend Changer at 5903 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).  Bank Nifty Future Trend Changer Level 12161.

Buy above 5900 Tgt 5925,5945 and 5963

Sell below 5874 Tgt 5855,5825 and 5800(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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