The greatest fault of ninety-nine out of one hundred active traders is being bullish at high prices and bearish at low prices. Therefore, refuse to follow the market beyond what you consider a reasonable climax, no matter how large the possible profits that you may appear to be losing by inaction Bank Nifty Bank… Read More »
Below is my Interpretation of FII OI data Sheet for 3-Jan-11. 1. FII bought 32,722 Contracts in NF worth 765.93 Cores in Index Futures with Open Interest increasing by 24,178 contracts. 2. As NF was up by 136 points with Open Interest increase by FII . Rise in OI with Rise in price… Read More »
SBIN SBIN closed near its resistance of 1633. Banking stocks have corrected in range of 30-70% in past 2 months on concerns of credit growth. Banking are the front runner of economy and hence they are one to lead the fall or rise in Nifty. Looking at chart of SBI selling pressure has abated… Read More »
Below is my Interpretation of FII OI data Sheet for 2-Jan-11. 1. FII sold 18,284 Contracts in NF worth 419.15 Cores in Index Futures with Open Interest increasing by 5958 contracts. 2. As NF was up by 16 points with Open Interest increase by FII . Rise in OI with Rise in price means shorts… Read More »
Maruthi Udyog Maruti is forming descending triangle formation with support at 911.Break of 911 will lead to further weakness in Maruti .Close below 910 will lead the gap filling of May 09. Gap is present from 848-910,Close below 910 expect the stock to move till 848 within this week. Sell below 910 Tgt 900,894,877… Read More »