Nifty continue to rally for 8 session, Whats next

By | January 28, 2015

FII

  • FII’s bought 72.7 K contract of Index Future worth 1731 cores, 82.8 K Long contract were added  by FII’s and 10 K  short contracts  were added by FII’s. Net Open Interest increased  by 92.8 K contract ,so FII’s added long in majority and added  partial  shorts in index future.
  • Nifty made new life high today @ 8925 and the bull run continues with big money flowing by fii’s and rising for 8 straight session , as per my perceptive last rally we saw from 7723 to 8627 was 904 points long and took 33 days to complete, the current rally which started from 7961 till 8925 is now 964 points which is more than last rally  and consumed 28 days  and also the maximum rally we have seen in 1041 points  so still there is room for upside.  Nifty is trading well above its 34 HEMA@ 8809 so till its held bulls are in control.Also max correction we have seen is 88 points so if pullback in this range use this to buy. As i always say do not try to pick tops and bottom, go with the trend or stay on sidelines.

nifty hourly

Nifty Hourly EW

 

  • Nifty Future Jan Open Interest Volume is at 1.60 core with liquidation of 66 lakhs , the whole liquidation got rollovered to Feb series with addition addition of 20 lakh in OI,  fresh long addition seen.
  • Total Future & Option trading volume was   at 3.91 lakh core with total contract traded at 5.8 lakh. PCR @1.21 good reduction seen in PCR from 1.34.
  • 9000  CE  OI at 47.4  lakh so wall of resistance @ 9000 .8600/8900 CE saw huge liquidation of 18.2  lakhs so bears continued with their covering of Calls. FII bought 19.6 K CE and 15.5 K shorted  CE were covered by them.
  • 8700 PE OI@ 47  lakhs so strong base @ 8700. 8800/8900 PE  added 23.4 lakh in OI so bulls are preparing ground for further assault and climbing over 9000. FII sold 9.9 K PE and 10.5 K PE were shorted  by them.
  • FII’s bought 953 cores in Equity and DII sold 783 cores in cash segment.INR closed at 61.4.

 

Buy above 8925 Tgt 8948,8970 and 9000 (Nifty Spot Levels)

Sell below 8885 Tgt 8848,8825 and 8800 (Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Leave a Reply