Bears ruling world market, How to trade Nifty?

By | January 24, 2014

FII_1

  • FIIs sold 30173 contracts of Index Future  worth 942 cores (11443 Longs were squared   and 18730 shorts were added ) with net Open Interest increasing by 7287 contracts, so FII’s exited longs and added shorts.
  • As discussed Nifty gave a breakout above 6327 but the follow up move is not coming so bears capitalized on downside, Nifty held on to its 20 DMA on closing basis,but looking at global markets markets are likely to open gap down. On downside strong support in range of 6175-6190. RBI policy on Tuesday will keep traders at edge.

nifty daily

  • Nifty Future January Open Interest Volume is at 1.58 cores with liquidation  of 13 lakhs in Open Interest,longs liquidation going on, 5 lakh got rollovered on Feb series,
  • Total Future & Option trading volume at 1.89  lakh with total contract traded at 2.4 lakh,PCR (Put to Call Ratio) at 0.95
  • 6300 Nifty CE  is having highest OI at 48 lakhs , remain resistance for the series adding 4.9 lakh,6200 CE liquidated 1.4 lakh and 6400 CE liquidated 0.8 lakhs signalling 6300 CE writers are back but not in big way. 6000-6500 CE liquidated 2.6 Lakh in OI.FII’s sold 9.6 K contracts of CE and 25.5 K shorts were added mostly in 6400 CE.
  • 6200 PE   is having highest OI at  51  lakhs suggesting strong support at 6200,6300 and 6400 PE liquidated  huge 35 lakh, suggesting bears are back with bang, Monday will be testing time on bulls holding 6200 or not. 6000-6500 PE liquidated 55.5  Lakh in OI.FII bought huge 41.3K in PE.
  • FIIs sold 231  cores in Equity ,and DII sold 78  cores in cash segment.INR closed at 62.66.

Buy above 6287 Tgt 6311,6331 and 6346 (Nifty Spot Levels)

Sell below 6260 Tgt 6241,6217 and 6191 (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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