- FII’s bought 44.6 K contract of Index Future worth 901 cores, 35.6 K Long contract were added by FII’s and 9 K short contracts were squared off by FII’s. Net Open Interest decreased by 26.6 K contract ,so FII’s added long and squared off shorts in index future in another dull day of trading.
- Nifty made new life high today @ 8774 with another DOJI candlestick formation, keeping the suspense on between Bulls and bears , Nifty is trading well above its 34 HEMA@ 8707 so till its held bulls are in control. But one caution sign is momentum has slowed down considerably in past 2 session Reduction in the same exhibits alarming signal which warns that the current trend is into its last stages and it’s the time to pack up the profits.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. Expect a big range breakout day tomorrow.
- Nifty Future Jan Open Interest Volume is at 2.26 core with addition of 4.5 lakh in OI, fresh long addition seen with increase in CoC.
- Total Future & Option trading volume was at 2.51 lakh core with total contract traded at 3.5 lakh. PCR @1.18 this shows excessive bullishness caution advised on longs ,VIX still trading above 18 keeping option premium high, good time for option writers as once VIX goes down prices will crash vertically.
- 8800 CE OI at 36.4 lakh so wall of resistance @ 8800 .8400/8700 CE saw huge liquidation of 21.6 lakhs so bears continued with their covering of Calls. FII sold 23.4 K CE and 27.7 K CE were shorted by them.FII’s have started shorting CE so cautious on longs.
- 8600 PE OI@ 52.5 lakhs so strong base @ 8600. 8800/8700 PE added 15.9 lakh in OI so bulls are preparing ground for further assault and climbing over 8800 but will the succeed. FII bought 18.7 K PE and 43.6 K PE were shorted by them.
- FII’s bought 592 cores in Equity and DII sold 578 cores in cash segment.INR closed at 61.69.
- Nifty Futures Trend Deciding level is 8772 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8651 and BNF Trend Deciding Level 19926(For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19645 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8781 Tgt 8801,8828 and 8858 (Nifty Spot Levels)
Sell below 8750 Tgt 8734,8707 and 8687 (Nifty Spot Levels)
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You said Nifty Futures Trend Deciding level is 8772 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8651…these levels are of Nifty Future Price…am i right in my understanding ??
yes
Hi bramesh i am interested in doing the basic course. Pls give ur contact details
You said max correction as 88 points Is it from day’s high or closing price?Taking High of yesterday at 8774 if NS breaches 8761-88=8673,shall we exit longs?Am I correct in my understanding?
its from the high sir
excellen
Greece election on Sunday, a oposition win with anti austerity agenda will
again raise Euro concerns..
Yes… if it is unable to cross above 8790 and going below 8750 will confirm some pullback and can test as low as 8447.
Hi Bramesh..i see that you have tentatively marked C around 8800 + plus calls being written at 8800..Few pointers point to a downmove while retail are already cautious and trying to short. so may be one round of upmove to squeeze out all shorts and then correction?
Lets see whats market is having in store for us.
hats of to you Bramesh ji
Again excellent analysis
Breakout on down side ? If yes will it sustain ?
Basically , we are in uncharted territory , where your guess is as good as mine. It is no use to predict this upmove , since the newsflow is uncertain. My best guess is Greece public will not vote for opposition & will stay in euro zone and markets will cross 8900 effortlessly.