Below is my Interpretation of FII OI data Sheet for 11-Apr-12.
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1. FII sold 12623 Contracts of NF worth 311 cores OI also increased by 14525.
2. As Nifty Futures was down by 15 points and OI has increased by 14525 ie. fall in price with rise in OI meaning FII have shorted the Index before the IIP data tomorrow.
3. Nifty closed below 20SMA@5290 and 50 SMA@5335 for today making it bearish in short term. Trend is favoring bears and Sell on rise should be mantra for the positional traders.
4.We are still in the trading range of 5221-5385. Today made a low of 5203 and bounced back sharply. Till we do not close above or below this crucial range range bound moves will continue.
5. Today we opened gap down tried to fill the gap from 5178-5203 but made a low of 5190 and bounced back and during the afternoon session we were able to fill the gap on upside ie from 5203-5244. Gap of 5178-5190 still remains and looking at FII data seems it should get filled by the end of week.
6. Nifty April OI has decreased by 15K,almost a negligible decrease .Total OI stands at 1.70 cores contracts.
7. FII OI for April Series 356716 higher than 12k from yesterday indication they have entered fresh shorts in the system.
8. Total F&O turnover was 1.14 lakh Cores with total contract traded at 375738.
9. 5400 CE is having highest OI of 52 lakhs and saw an addition of 5 lakh contracts .5400 looks like a top for time being.
10. 5100 and 5200 PE showed an addition of 5 Lakh and 84k taking OI to 57 lakhs . But today 500 PE ishaving the highest OI of 58 lakhs with fresh addition of 4,5 lakhs,Basically meaning the support of 5200 can get broken tomorrow and Smart money is betting on 5000 as a base.
11. Today both big boys were net sellers again . FII sold 445 Cores and DII were also sellers worth 82 cores.Its been 3 days in a row when both FII and DII are net sellers and in such incident Nifty has a history of falling the next day. This observation comes from the data am having from 2009. 1
12. Nifty Futures Trend Deciding level is 5186, Trend Changer at 5295 NF (Above this Level Bulls will rule Nifty/Below this levels Bears have upperhand).
Buy above 5255 Tgt 5270,5285,5301 and 5333
Sell below 5218 Tgt 5203,5190 and 5174(Nifty Spot Levels)
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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