Nifty Trend after UPA won FDI Vote in Loksabha

FDI in multi brand retail was passed in Lok Sabha where 218 votes against the FDI, there were 253 votes in the favour of the government’s move. Politics being a dirty game again got proved where 2 major parties opposing FDI in multi brand BSP and SP abstained from voting. News was no surprise for market so no firworks should be expected tommrow. Rajya Sabha passing of the issue holds the key which will happen on Friday.

1. FIIs  sold 2723 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 83.84 cores with net Open Interest increasing by 9915 contracts.

2. As Nse Nifty Future was up by 16 points with Open Interest in Index Futures increasing by9915, so FIIs created fresh  longs of  Nifty and Bank Nifty Futures.

3. NS closed at 5901 highest closing after 1 April 2011 after making a high of 5918 and low of 5892 .Nifty has been on run with continued buying by FII and out performance by mid and small caps shares.Noises of Nifty hitting 6100 and 6300 are on high and i would request readers to exercise cautious in there trading positions and keep a strict sl. Market will always move in a direction which cause maximum pain to market participants. Keep a strict sl of 5888 on your longs.

4. Resistance for Nifty has come up to 525 and 5945 which needs to be watched closely ,Support now exists at 5888 and 5855.Trend is Buy on Dips till 5855 is not broken on closing basis.

5. Nifty  Future December  Open Interest Volume is at 2.04 cores with addition of  6.8  lakh in Open Interest, Cost of Carry of NF at 13.80. 

6. Total Future & Option trading  volume was  at 1.06 lakh  Cores  with total contract traded at  1.48 lakh,  PCR (Put to Call Ratio) at 0.73 and VIX  at  16.62.Cash market volume were also good and above average which suggest if 5945-63 NS is not broken its clear case of distribution at highs.

7.  6000 Call Option  is having highest Open Interest of 81 Lakhs with liquidation of 1 lakhs in Open Interest  ,5900 Call Option added 2 lakhs in OI as Nifty just closed above 5900 and Call writers did not budged. 5500-6100 Call Options liquidated 3.6 lakhs in OI.

8. 5500 Put Option is having  Open Interest of 67 lakhs with addition of 1.8 lakhs in OI so firm base is set up at 5500. 5800 Put Option added 2.67  lakhs in OI and having OI at 60 and 5900 Put Option added 4.2 lakhs with OI at 39 Lakhs so Bulls want to protect 5900 now .5500-6100 Put Options added 22 lakhs in OI.

9. FIIs  buying in Equity in tune of  878.57 cores and DII  sold 639.78 cores in cash segment.Indian Rupee ,INR closed  at  54.75  Live INR rate  @ http://inrliverate.blogspot.in/).

10. Nifty Futures Trend Deciding level is 5914(For Intraday Traders), Trend Changer at 5915 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 5925 Tgt 5945,5963 and 5987

Sell below 5888 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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