Fitch upgrades India Outlook,How to trade Nifty ?

By | June 12, 2013

FII

  • FIIs sold  16847 Index Future worth 484 cores with net Open Interest increasing by 42773 contracts,FII have initiated  fresh shorts in index futures with nifty trading below  200 DMA, 2 day in row and rupee recovering from its all time low.
  • Nifty has closed below its 200 DMA and was unable to cross also during Intraday,putting long term trend under threat. 5921 is Weekly Trend Deciding level and 3 weekly targets got achieved today. IIP Data and CPI inflation data both came below and above market expectation, keeping market participants confused whether RBI will go for rate cut or not. Many fellow traders asked can we initiate fresh longs near lower level, My answer to readers is if you are carrying short please do partial profit booking but no need of going long till Nifty does not trade above our trend changer level or SAR level. Fitch upgrades India Outlook this does not mean downtrend is over and do not rush to buy first thing in morning tomorrow, let the system come in buy zone.

nifty daily

  • Nifty Future June Open Interest Volume is at 1.45 cores with addition of 9.6 lakhs in Open Interest,shorts got added in the system.
  • Total Future & Option trading volume at 1.46 lakh with total contract traded at 2.7 lakh , PCR (Put to Call Ratio) at 0.87.VIX  consolidating after breakout closed at 18.85
  • 6000 Nifty CE  is having highest OI at 75.7 lakhs with addition of 6.8 lakhs in OI , 5900 CE with OI at 55.7 lakhs remains the wall of resistance. 5800 CE added another 19.3 lakh and 32 lakhs in past 2 days in OI suggesting 5800 will act as resistance for tommrow .5700-6200 CE added 35.5 lakh in OI
  •  5700 PE is having highest OI of 71 lakhs with addition of 7.2 lakh, will act as support, Bulls ran for cover as soon as 5854 broke,5900 PE liquidated 5.4 lakhs. 5800-6300 CE added 1.8 lakh in OI.

OI

  • FIIs sold in Equity in tune of 1060 cores,and DII bought 717 cores in cash segment ,INR closed at 57.72,retraced back from our trend deciding level of 59.07 and achieved the 1 target also USD INR Outlook after Rupee makes all time low
  • Nifty Futures Trend Deciding level is 5787 (For Intraday Traders).Nifty Trend Changer Level 5938 and Bank Nifty Trend Changer level 12259.Nifty Future made the exact top at 5989 on Friday which was Trend Changer level on Friday and gave a pullback Nifty Traders are almost in profit of 220 points in 4 days book out 70% of shorts in NF and Bank Nifty Futures.

 

Buy above 5764 Tgt  5787,5800 and 5814(Nifty Spot Levels)

Sell below 5750 Tgt 5736,5715 and 5700(Nifty Spot Levels)

 

Stock Performance Sheet for the Month of May is Updated @http://tradingsystemperformance.blogspot.in/  Net Profit for the month of May is 187775/-

Live Nifty A/D charts  Click on the Link

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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One thought on “Fitch upgrades India Outlook,How to trade Nifty ?

  1. Raj

    Indian investers should start Buying shares now

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