Nifty Trading Strategy for 20 Jan

By | January 20, 2014

FII_1

  • FIIs sold 3233 contracts of Index Future  worth 101 cores (17040 Longs were squared off and 13807 shorts were squared off) with net Open Interest decreasing by 30847 contracts, so FII’s are square off mode in both longs and shorts.
  • Nifty again took support at 20 DMA as shown in below chart and bounces back again, Range contraction is visible in daily chart breakout above 6327 and breakdown below 6230.Today’s rise was a technical bounce back added by short covering as no major long addition was seen.

nifty daily

  • Nifty Future January Open Interest Volume is at 1.70 cores with liquidation  of 8.9 lakhs in Open Interest,longs liquidation going on.
  • Total Future & Option trading volume at 1.39  lakh with total contract traded at 2.1 lakh.PCR (Put to Call Ratio) at 1.04.
  • 6300 Nifty CE  is having highest OI at 48.9 lakhs , remain resistance for the series. 6200 CE liquidated 4.4 lakh and 6400 CE liquidated 7 lakhs signalling 6200 strong support and 6400 strong resistance for time being. 6000-6500 CE liquidated 11.1  Lakh in OI.FII’s sold 8.5 K contracts of CE so rise was used for cutting down the position.
  • 6200 PE   is having highest OI at  71.2  lakhs suggesting strong support at 6200,6300 PE added huge 18.4 lakh, suggesting bulls want to make base higher at 6300, Tomorrow will be testing time on bulls holding 6300 or not. 6000-6500 PE added  41.5 Lakh in OI.
  • FIIs bought 384  cores in Equity ,and DII sold  310  cores in cash segment.INR closed at 61.61.

Buy above 6310 Tgt  6326,6342,6358 (Nifty Spot Levels)

Sell below 6285 Tgt 6265, 6241 and 6221 (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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