How to trade in nifty and Bank Nifty on 24 Jan

By | January 23, 2013

FII

1. FIIs sold 10055 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 297 cores with net Open Interest decreasing by 2085 contracts.Want to Learn Option Strategy to trade in Sideways market with Bullish Bias  http://bit.ly/WssDmb

2. As CNX Nifty Future was up by 8  points with Open Interest in Index Futures decreasing by 2085 so FIIs again booked profit in long  in Nifty and Bank Nifty. Today we had a V shaped recovery after Nifty Future came near to our Trend Changer level of 6024 FII has used to rally to exit longs.

3. NS closed at 6054  after making high of 6070 and low of 6021. Nifty bounced from our support level of 6026 as discussed yesterday. Nifty is only giving intraday trading opportunity,positional traders need to wait till we get a clear breakout about 6100 or breakdown below 5980. Stock specific action is going around , Today our short call in KTK bank made good trade.

 

 

4. Resistance for Nifty has come up to 6076 and 6101  which needs to be watched closely ,Support now exists at 6021 and 6000.Trend is Sell on Rise till 6100 is not broken on closing basis.(Hope traders were able to benefit out of this today)

5. Nifty Future January Open Interest Volume is at 1.32 cores with liquidation of 6 lakh in Open Interest, Profit booking of longs in Nifty future.Cost of Carry of Nifty Future increased to 18.6 with fall in OI suggesting profit booking.OI in Nifty Future is at multi month low, trending move is round the corner.

 

6. Total Future & Option trading volume at 1.39 lakh Cores with total contract traded  at 1.68 lakh, PCR (Put to Call Ratio) at 1.05  and VIX at 13.67.

7. 6200 Call Option is having highest Open Interest of 92  lakhs with addition of 2.7 lakhs in Open Interest, 6100 Nifty CE  is having second highest OI at 70 lakh  liquidation 0.7 lakhs in OI,with Option premium at Rs 27 short got liquidated  in 6100 CE ,6000 CE saw liquidation of 3.4 lakhs in OI  .5700-6300 Call Options liquidated  3.9 lakhs in OI.

8. 5900 Put Option is having Open Interest of 84 lakhs with addition of 3.8 lakhs in OI so base building strike price is coming down to 5900 from 6000.  6000 Put Option liquidated  2.6 lakhs with OI at 83 lakhs .5700-6300 Put Options liquidated 5.67 lakhs in OI.

9. FIIs buying in Equity in tune of 852 cores and DII sold 802 cores in cash segment,INR closed at 53.64 Live INR rate @ http://inrliverate.blogspot.in/).

10. Nifty Futures Trend Deciding level is 6044(For Intraday Traders), Trend Changer at 6026 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12743.

Buy above 6065 Tgt 6086,6100 and 6124

Sell below 6020 Tgt 6000,5982,5964(Nifty Spot Levels)

Traders who use Pivot and Camarilla can use the follwing 2 sites for Hourly values and EOD values

http://camarillapivotpoints.blogspot.com/
http://niftystockpivot.blogspot.in/

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4 thoughts on “How to trade in nifty and Bank Nifty on 24 Jan

  1. Bramesh Post author

    Dear Sandeep,

    Its always advisable to trade on a system which have been thoroughly back tested for a period of atleast 24 months. We do provide such system in our trading courses.

    Rgds,
    Bramesh

  2. Sandeep

    As am new to market I wish to do Delivery trades instead of Intraday so does SAR is useful. If not on what study I should trade.

  3. Bramesh Post author

    Dear Sandeep,

    Try to avoid Auto sector for time being.. Technically below 284 Telco has much more pain left..

    Rgds,
    Bramesh

  4. Sandeep

    Hello sir,
    At today’s Market view Tata motors is down by 9% is it a good time to buy it for Delivery type.As I am New to this please correct my mistakes about this.

    Thanks
    Sandeep H C

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