Nifty gets Ukraine jitters, How to trade now ?

By | March 3, 2014

FII_1

  • FIIs sold 10324  contracts of Index Future worth 314 (5963 Long contracts were  squared off and 4361 short contract  were added ) with net Open Interest decreasing by 10324 contracts, so FII’s added shorts in index future and  longs were squared off.
  • Nifty opened gap down, and quickly moved up to fill the gap and the fall started. As discussed in Weekly Analysis, NIfty is near the Fibo Fan angle and unable to cross 6284 fall can start. Nifty made a high of 6278 and started the pullback. Ukraine is just an excuse for fall, Always follow the price market will always oblige. Technically 6180-6172 is strong demand zone of nifty, holding the same bounceback can be seen.
    nifty ff

 

  • Nifty Future March Open Interest Volume is at 1.34 cores with liquidation of 2.5 lakhs in Open Interest,so liquidation of longs and no major short addition.
  • Total Future & Option trading volume at 0.99 lakh with total contract traded at 1.8 lakh , PCR (Put to Call Ratio) at 1.13 still in overbought zone signalling pullback can continue.
  • 6300 Nifty CE  is having highest OI at 51.1 lakhs , remain resistance for the series. 6200 CE saw addition today of 2.5 lakhs suggests bears are targeting close below 6200,6000-6400 CE added 12.7 Lakh in OI.FII’s bought 11.9 K contract of CE and 10.3 K shorted CE were covered.
  • 6200 PE   is having highest OI at  55.8 lakh with addition of 11.3 lakhs suggesting bulls wants to hold 6200,If tomorrow we open below 6200 and no major liquidation seen we can see a sharp bounce back so strength of base at 6200 will be tested tomorrow. 6100 PE added 2.7  lakhs,having OI at 48  lakhs,  6000-6400 PE added 15.8  Lakh in OI .FII’s added 21.6 K contract of PE and 6.6 K PE were shorted.
  • FIIs bought 198 cores in Equity and DII bought  1566 cores in cash segment.INR closed at 62.04.

Buy above 6237 Tgt 6262 ,6283 and 6303(Nifty Spot Levels)

Sell below 6197 Tgt 6172,6150 and 6130 (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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