Nifty near 100 DMA, trading strategy for 19 Feb

By | February 18, 2014

FII_1

  • FIIs bought 20711 contracts of Index Future worth 625 (10517 Long contracts were added and 10194 short contract  were squared off ) with net Open Interest increasing by 323 contracts, so FII’s added longs (highest in Feb series)  in index future and shorts were again squared off today.
  • Nifty has retraced the fall of Thursday in 3 days and tomorrow and gave the expected breakout above 6090. Range of 6113-6120 is decisive range as discussed becomes crucial support for next 3 days. 6144-6146 needs to be watched closely as its combination of 100 DMA and 50% Fibo retracement for fall of 5933-6356. Closing above 6145 nifty will attempt the gap area of 6188. The rise of past 3 days is not backed by volumes and we are near the trendline support so caution is advised.

nifty daily

  • Nifty Future Feb Open Interest Volume is at 1.56 cores with liquidation of 5.7 lakhs in Open Interest,so liquidation of shorts with decrease in cost of carry.
  • Total Future & Option trading volume at 1.67 lakh with total contract traded at 2.1 lakh, PCR (Put to Call Ratio) at 1.02 signalling neutral zone.
  • 6200 Nifty CE  is having highest OI at 58.3 lakhs , remain resistance for the series but liquidation of 7.2 lakhs suggests bulls are targeting 6200 in coming days,6100 CE liquidated 0.78 Lakhs suggesting Bulls have  conviction of holding 6100.5700-6300 CE liquidated 15.9 Lakh in OI.FII’s bought 18.3 K contract of CE and 253 CE shorted.
  • 6000 PE   is having highest OI at  1.09 core, so base at 6000 looks strong. 6100 PE added 11.2  lakhs,having OI at 50.8 lakhs, and 6200 PE added 8 suggesting bulls want to close nifty above 6200. 5700-6300 CE added 29.5 Lakh in OI .FII’s bought 12.8 K contract of PE and 842 PE were shorted.
  • FIIs bought 292 cores in Equity and DII sold 154 cores in cash segment.INR closed at 62.3.

Buy above 6142 Tgt 6157,6187 and 6210(Nifty Spot Levels)

Sell below 6112 Tgt 6082,6067 and 6050 (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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