S&P CNX Nifty Trading Strategy for 20 Feb

By | February 19, 2013

FII

1. FIIs sold 14202  Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 421 cores with net Open Interest increasing by 12068 contracts. Are you Victim of “Out of Control Trading”

2. As CNX Nifty Future was up by 49 points Highest in Feb Series with Open Interest in Index Futures increasing by 12068 so FII did short covering on small basis. Net on Net they are still short in Index.

3. NS closed at 5940 after  making high of 5948 and low of 5883.Nifty continued with formation of  Higher High and Higher Low and today formed a Bullish engulfing pattern. Range of 5950-5974 is tricky range and bulls need to cross this range for Nifty to turn bullish. Today rally was backed by  short covering only. 

 

 

4. Resistance for Nifty has come up to 5961 and 5974  which needs to be watched closely ,Support now exists at 5917 and 5900.Trend is Buy on Dips till 5880 is not broken on closing basis.At last we got rewarded for the patience 🙂

5. Nifty Future Feb Open Interest Volume is at 1.58 cores with addition of  4.2 lakh in Open Interest longs addition in system, Cost of Carry of Nifty Future increased to 13.84  showing shorts liquidation and long addition into the system.

6. Total Future & Option trading volume at 1.04 lakh Cores with total contract traded  at 1.55 lakh , PCR (Put to Call Ratio) at 0.85  and VIX at 15.84 ,still sustaining above 15.6 which was breakout level.Cash market volumes did not increase even though we had a rally of 50 points suggesting short covering

7. 6000 Call Option is having highest Open Interest of 76.9  lakhs with liquidation  of  8.84 lakhs in Open Interest premium at Rs 33 shorts added yesterday got covered, 6100 Nifty CE  is having second highest OI at 82.9 lakh  liquidation  of  2.5 lakhs in OI I ,Lets see can  Bears hold their forte at  6000 CE tommrow. .5700-6300 Call Options liquidated 15.7  lakhs in OI. Twist of fate with just 48 points rally.

8. 5900 Put Option is having highest  Open Interest of  71.3  lakhs with addition of 4.6  lakhs in OI  , 6000 PE writers added 0.53lakhs,5800 PE added neglible and is having second highest OI  at 66.1 lakhs  . 5700 PE  again liquidated 15.5  lakhs with Option premium at Rs 3 ,so this time smart money covering  shorting  in 5700 PE from rs 12 to 3  .5700-6300 Put Options added 19.2  lakhs in OI.

9. FIIs sold in Equity in tune of 181 cores,first time in Feb series they were sellers  and DII bought  24 cores in cash segment,INR closed at 54.2.

10. Nifty Futures Trend Deciding level is 5984(For Intraday Traders), Trend Changer at 5961 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12487.

Buy above 5950 Tgt 5961,5974 and 5988

Sell below 5923 Tgt 5900,5884,5861(Nifty Spot Levels)

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

 

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

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