Nifty consolidates in small range, How to trade now ?

By | February 10, 2014

FII_1

  • FIIs bought 1539 contracts of Index Future worth 53 (1998 Long contracts were squared off and 3537 short contract  were squared off ) with net Open Interest decreasing by 5535 contracts, so FII’s squared off  longs and shorts today in choppy session of trade.
  • Nifty was able to protect its 6050  for second  day running forming higher highs and higher lows , nifty is resisting at the upper end of rising trendline. Nifty after forming multiple hammer pattern, traded in sideways zone, consolidation is happening after a big fall. As per time analysis a trending move is round the corner in next 2 days.

nifty daily

  • Nifty Future Feb Open Interest Volume is at 1.54 cores with addition of 0.4  lakhs in Open Interest,so addition of shorts, OI in Nifty Future is still very less suggesting sideways move to continue.
  • Total Future & Option trading volume at 0.78 lakh with total contract traded at 1.2 lakh,PCR (Put to Call Ratio) at 0.96.
  • 6200 Nifty CE  is having highest OI at 62.4 lakhs , remain resistance for the series,6100 CE added 4.8 Lakhs suggesting bears are making short term cieling at 6100 ,6300 CE add  2.2 Lakh in OI suggesting smart money taking position in OTM calls. 5700-6300 CE added 7.7 Lakh in OI.FII’s bought 67.6 K contract of CE mostly in 6300 and 6400 CE and 10.5 K were shorted.
  • 6000 PE   is having highest OI at  87.1 lakhs, so base at 6000 at start of series, 6100 PE has added 1.9 lakhs,having OI at 36.6 lakhs, suggesting fight for 6100 is on. 5700-6300 CE added 6.4 Lakh in OI .FII’s sold 11.1 K contract of PE and 11.4 K PE were shorted.
  • FIIs sold 455 cores in Equity ,and DII bought 294 cores in cash segment.INR closed at 62.43

Buy above 6061 Tgt 6076,6097 and 6120 (Nifty Spot Levels)

Sell below 6040 Tgt 6024,6002 and 5980 (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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