Nifty forms hanging man, How to trade on 6 March

By | March 5, 2014

FII_1

  • FIIs bought 20503  contracts of Index Future worth 328 cores (22.7 K Long contracts were  added and 2.2 K short contract  were added ) with net Open Interest increasing by 25 K contracts, so FII’s added huge longs in index future and  marginal shorts were added.
  • Nifty finally closed above the trendline resistance, but with a formation of bearish  hanging man candlestick. So low of 6287 will be very important to watch for next 2 days. Holding 6287 we can move towards all time high, Unable to do so we can correct back to 6200 odd levels. 3 Conditions should be satisfied for pattern to confirm.
  • Tomorrow  is going to be a red candle day.
  • There is a breakdown in price tomorrow or in the next one or two trading sessions below 6287.
  • 6357 is not breached on closing basis till then.

    nifty daily

  • Nifty Future March Open Interest Volume is at 1.53 cores with addition of 8.3 lakhs in Open Interest,so addition of longs.
  • Total Future & Option trading volume at 1.18  lakh with total contract traded at 1.7 lakh , PCR (Put to Call Ratio) at 1.14.
  • 6400 Nifty CE  is having highest OI at 55.4 lakhs , remain resistance for the series. 6200 CE saw liquidated today of 0.9 lakhs suggests weak bears panicked and liquidated,6000-6500 CE liquidated 0.25 Lakh in OI.FII’s bought 13.4 K contract of CE and 1.2 K CE were shorted .
  • 6200 PE   is having highest OI at  73.1  lakh with addition of 9.1 lakhs suggesting bulls wants to hold 6200, 6300 PE added 9.8  lakhs,having OI at 43.3  lakhs bulls will now protect 6300 on decline,  6000-6500 PE added 25.4  Lakh in OI .FII’s sold 1.9 K contract of PE and 24.2 K PE were shorted mostly in 6100 and 6200 PE.

OI

  • FIIs bought 737 cores in Equity and DII sold 201 cores in cash segment.INR closed at 61.74

Buy above 6336 Tgt 6347 ,6366 and 6395(Nifty Spot Levels)

Sell below 6317 Tgt 6300,6270 and 6250 (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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