1. FIIs sold 3214 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 99 cores with net Open Interest decreasing by 1810 contracts. Importance of Effective Trading Plan in trading profitably
2. As CNX Nifty Future was down by 31 points with Open Interest in Index Futures decreasing by 1810, FII hve booked profit again in longs. No major shorting seen by FII, as discussed in weekly analysis 5984 is important support.
3. NS closed at 5998 after making high of 6052 and low of 5964.Nifty has stated the Feb expiry on bearish note with closing below the psychological level of 6000. Hourly charts have reached oversold zone with mild positive divergence. We will open with gap up,and able to cross and sustain above 6013 more strength can be seen in Nifty
4. Resistance for Nifty has come up to 6013 and 6033 which needs to be watched closely ,Support now exists at 5984 and 5970.Trend is Sell on Rise till 6033 is not broken on closing basis.
5. Nifty Future Feb Open Interest Volume is at 1.63 cores with liquidation of 1.3 lakh in Open Interest Cost of Carry of Nifty Future at 9.9.
6. Total Future & Option trading volume at 0.84 lakh Cores with total contract traded at 1.24 lakh new 52 week low , PCR (Put to Call Ratio) at 0.94 and VIX at 13.76.
7. 6100 Call Option is having highest Open Interest of 44.9 lakhs with addition of 13.2 lakhs in Open Interest premium at 53, 6200 Nifty CE is having second highest OI at 43.5 lakh addition of 0.34 lakhs in OI .5700-6300 Call Options added 26.6 lakhs in OI. Bulls are unable to break 6100 and Bears unable to break 6000. So Fight continues.
8. 6000 Put Option is having highest Open Interest of 43.9 lakhs with addition of 9.3 lakhs in OI so base building at 6000 strike price.Huge addition of 15 Lakhs was seen in 5700 PE with Option premium at Rs8,so 5700 PE needs to be watched closely as it has added 32 lakhs in 2 days , Is it an indication of fall in Feb ? .5700-6300 Put Options added huge 33.8 lakhs in OI.
9. FIIs buying in Equity in tune of 763 cores and DII sold 1088 cores in cash segment,INR closed at 53.23 Live INR rate @ http://inrliverate.blogspot.in/).
10. Nifty Futures Trend Deciding level is 6024(For Intraday Traders), Trend Changer at 6063 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12767.
Buy above 6018 Tgt 6032,6050 and 6081
Sell below 5984 Tgt 5970,5951,5920(Nifty Spot Levels)
Traders who use Pivot and Camarilla can use the following 2 sites for Hourly values and EOD values
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