Nifty recovers from 5900 after RBI shocker, Will it rally further?

By | July 16, 2013

FII

  • FIIs sold  9277 Index Future worth 264 cores with net Open Interest decreasing by 5265 contracts.FII booked profit in Longs of Nifty and Bank Nifty futures, No shorts were taken.Notable Quotes from Market Wizards
  • Nifty Opened Gap down of 100 points after RBI decision in hiking interest rates to save rupee. Nifty downfall gave us an opportunity to enter longs as per our Price Action Strategy. With news that Government allowed FDI in 13 sector will be positive for Indian Rupee which in turn can be positive for stock market tommrow.As per classical technical analysis Nifty reacted from the Fibo Fan resistance again able to capture top 🙂

nifty ff

  • Nifty Future July Open Interest Volume is at 1.65 cores with liquidation  of 14 lakhs in Open Interest, so long liquidation was seen today.
  • Total Future & Option trading volume at 1.47 lakh with total contract traded at 2.4 lakh , PCR (Put to Call Ratio) at 1.15, VIX unable to sustain above its breakout level,bounced from its rising trendline,trading in narrow range.

VIX

  • 6000 Nifty CE  is having highest OI at 64.9 lakhs with addition of 5.5 lakhs in OI,5900 CE added 9.1 lakh in OI and 6100 CE net OI at 2.2 lakhs, FII were net buyers of 1520 cores so they would have covered written calls, suggesting more upside more market in coming future. 5500-6200 CE added 10 lakh in OI.
  •  5800 PE OI at 91.9 lakh remain the highest OI , remains strong support for market. 5900 PE is having  OI of 68 lakh  suggests 5900 will remain the wall of support for coming week and today we made low of 5910 and bounced 🙂 5500-6200 CE liquidated 13 lakh  in OI.

OI

  • FIIs sold in Equity in tune of 357 cores ,and DII sold 210 cores in cash segment ,INR closed at 59.39.
  • Nifty Futures Trend Deciding level is 5934 (For Intraday Traders).Nifty Trend Changer Level 5864 and Bank Nifty Trend Changer level 11505.Bank NIfty Trend Changer got in effect today and gave us 180 points profit , Nifty is still holding above trend changer levels, though our profits were reduced 🙂

 

Buy above 5977 Tgt  5999,6020 and 6040(Nifty Spot Levels)

Sell below 5940 Tgt 5920,5909 and 5880(Nifty Spot Levels)

 

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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