Nifty Technical outlook for 03 Sep

By | September 2, 2013

FII

  • FIIs sold 1065 contracts of Index Future (Entered long in fresh 1519 Contracts and  2584 fresh shorts were added) worth 18 cores with net Open Interest increasing by 4103 contracts. Today’s rise also FII are entering shorts at higher levels but only in small quantity.
  • Nifty has taken support at last fibo fan support as discussed and continued with its pullback. Nifty has been finally to trade and close above its resistance of 5477 and 5511 in single session. Todays volumes were quiet less as most of FII’s are on holiday. We need a confirmation with a close above 5556 for the current pullback rally to continue, failure to do so we can see a pullback back till 5477 and 5426.

nifty daily

  • Nifty Future Sep Open Interest Volume is at 1.80 cores with addition of 7.1 lakhs in Open Interest, so again fresh longs get added in first day of series with a negative cost of carry signalling cautious approach on longs
  • Total Future & Option trading volume at  1.06  lakh with total contract traded at 3.1 lakh ,PCR (Put to Call Ratio) at 0.99. VIX closed below 30 for third day in row.
  • 5500 Nifty CE  is having highest OI at 34.3 lakhs with addition of 1.1lakhs in OI. 5600 CE added 5.5 lakh in OI will be strong resistance in short term.As per FII analysis,51 K long were entered in Calls and just19K contract were written. 5300-5900 CE added 17 lakh in OI.
  • 5300 PE OI at 68 lakh remain the highest OI, remains the firm support for time being. 5400 PE added another 4.3 lakh in OI, huge put writing happening from start of series. 5500 PE also added 14 lakh in OI suggesting some buying in PE. As per FII data they added 17 K contract of PE and wrote27 K contract suggesting there stance turning to neutral.5300-5900 PE added 23 lakh in OI.
  • Nifty Futures Trend Deciding level is 5485(For Intraday Traders). NF Trend Changer Level (Positional Traders) 5432 and BNF Trend Changer Level (Positional Traders) 9052 .NF and BNF gave 180 and 390  points in profits.

 

Buy above 5556 Tgt 5585 ,5600 and 5618(Nifty Spot Levels)

Sell below 5530 Tgt 5500, 5478 and 5445 (Nifty Spot Levels)

 

I have been getting lots of mail to share performance of positional calls based on new trading course we have launched , Readers can see the performance  http://positionalcallsperformance.blogspot.in/

 

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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2 thoughts on “Nifty Technical outlook for 03 Sep

  1. Bramesh Post author

    Dear Mehul,

    Thanks a lot for correcting the typo error 🙂

    Rgds,
    Bramesh

  2. Mehul

    Sir, kindly correct the cash market figures in this blog. FIIs were net buyers to the tune of 476 Cr and DIIs were net sellers to the tune of Rs 276 Cr. No offence, just want you to correct the factual error. Thanks and keep up your good work. All the best.

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