RBI turns out to be non event, Nifty trading strategy

By | January 28, 2014

FII_1

  • FIIs sold 546 contracts of Index Future  (22013 Longs were added and 22559 shorts were added ) with net Open Interest increasing by 44572 contracts, so FII’s added both longs and short in equal number,so mostly we can have formed a panic bottom today.
  •  As discussed yesterday Unable to hold 6130 Nifty can see a swift fall to 6070 odd levels, RBI proved to be a trigger which saw a panic low formed at 6087 and than a slow and steady bounce back. Nifty held on its 100 DMA support on closing basis. 6140-6150 is zone of resistance, moving above the same we can see a move till 6200 odd levels.

nifty daily

  • Nifty Future January Open Interest Volume is at 1.08 cores with liquidation  of 18.5 lakhs in Open Interest,longs liquidation going and short addition, 37 lakh got rollovered on Feb series mostly shorts.
  • Total Future & Option trading volume at 2.53  lakh with total contract traded at 3.6 lakh,PCR (Put to Call Ratio) at 0.95 cooled off from 1.14 yesterday, good sign for bulls.
  • 6300 Nifty CE  is having highest OI at 56.2  lakhs , remain resistance for the series adding 3.3 lakh,6200 CE added 1.7 suggesting bears are confidence that 6200 will not break. 6000-6500 CE added 8.4 Lakh in OI.FII’s sold 11.8 K contracts of CE and 15.9 K shorts were added mostly in 6200 CE.
  • 6000 PE   is having highest OI at  49.2 lakhs, so base moving down quickly, 6200 PE has liquidated another 9 lakhs, 24 lakhs in 2 days, 6100 PE is having second highest OI, so 6100 seems to be a base as of now.  6000-6500 PE liquidated 7.7  Lakh in OI.FII bought 19.7 K in PE again after today’s fall.
  • FIIs sold 1267 cores in Equity ,and DII bought 1178  cores in cash segment.INR closed at 62.51  quick recovery from 63.10,should be reflected in stock market tomorrow.

Buy above 6144 Tgt 6165,6189,6210 and 6250 (Nifty Spot Levels)

Sell below 6122 Tgt 6106,6087 and 6048 (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/

Leave a Reply