Nifty trades in sideways mode, How are FII’s positioning for US Fed Policy

By | September 17, 2013

FII

  • FIIs bought 20132 contracts of Index Future (sold just 388 long contract and  20520 shorts were squared off) worth 592cores with net Open Interest decreasing by 20908 contracts. SO FII’s today were on short covering spree and in series net on net they have covered most of shorts still holding significant amount of long contracts.
  • As discussed in yesterdays analysis Nifty will continue to move in choppy market frustrating market participants,Nifty continued trading in its sideways range of 5800-5950 and closing above its 100 and 200 DMA.  Today was a day of consolidation trading below 200 DMA for most part of day and rallying in dying hours of trade to close above 200 DMA and in process forming an Inside day candlestick pattern signalling next 2 days a big move is on the cards.  Typically market is catching its breadth with sideways move in range of 150 points.

nifty daily

  • Nifty Future Sep Open Interest Volume is at 1.59 cores with liquidation of 8.4 lakhs in Open Interest,with huge rise in cost of carry.
  • Total Future & Option trading volume at  1.04 lakh with total contract traded at 2.3 lakh Cash volume is lower  from past 2 days suggesting fall is coming only from derivative selling and is technical in nature ,PCR (Put to Call Ratio) has surprisingly moved below 1 now trading at 0.94, signalling more calls are getting traded.
  • 6000 Nifty CE  is having highest OI at 51.2 lakhs with addition of 4.6 lakhs in OI will be short term resistance. 5900 CE added 0.9 lakh in OI suggesting 5900 remains a minor resistance.As per FII analysis 2.8K long were covered in Calls, 12.6K calls were shorted mostly in 6000 CE, suggesting FII are not seeing Nifty moving above 6000 in near term. 5500-6000 CE added 4.9 lakh in OI.
  •  5600PE is having the highest OI of 55.8 lakhs,  suggesting strong support of Nifty at lower levels.5700-5900 PE together added 12 lah in OI suggesting base formation is happening near 5800 levels as nifty is unable to break it on closing basis. As per FII data 875 contract of PE were long and 9.8 fresh PE were shorted.More CE and PE writing suggests fight with bulls and bears to continue .5500-6000 PE added huge 15.8 lakh in OI.

 

Buy above 5865 Tgt 5903,5932 and 5964 (Nifty Spot Levels)

Sell below 5840 Tgt 5816, 5780 and 5750 (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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