Bhenji Party’s and its 15 Rajya Sabha MPs will vote in favour of the government’s decision to allow Foreign Direct Investment in multi-brand retail and this lead to the sudden spurt in Nifty.
1. FIIs sold 3637 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 106.78 cores with net Open Interest increasing by 567 contracts.
2. As Nse Nifty Future was up by 30 points with Open Interest in Index Futures increasing by567, so FIIs have booked profits in longs of Nifty and Bank Nifty Futures.Do note FII did mostly day trading today.Also the Initial Range lower end was 5874 NF made low of 5870 and bounced back.
3. NS closed at 5931 highest closing in 19 months after making a high of 5943 and low of 5839. As we have been discussing from past few days a big move is round the corner and Nifty did a 115 points move today.
4. Resistance for Nifty has come up to 5945 and 5963 which needs to be watched closely ,Support now exists at 5918 and 5904.Trend is Buy on Dips till 5855 is not broken on closing basis. So the buy on dips would have helped traders to take longs at lower levels.
5. Nifty Future December Open Interest Volume is at 2.06 cores with addition of 2 lakh in Open Interest, Cost of Carry of NF at 14.56.
6. Total Future & Option trading volume was at 1.57 lakh Cores with total contract traded at 2.77 lakh, PCR (Put to Call Ratio) at 0.76 and VIX at 15.24.Cash market volume were again above average which suggest if 5945-63 NS is not broken its clear case of distribution at highs.
7. 6000 Call Option is having highest Open Interest of 78 Lakhs with liquidation of 2.5 lakhs in Open Interest ,5900 Call Option liquidated 1.4 lakhs in OI as Nifty just closed above 2 day 5900. 5500-6100 Call Options liquidated 6.7 lakhs in OI.
8. 5500 Put Option is having Open Interest of 67 lakhs with addition of 1.4 lakhs in OI so firm base is set up at 5500. 5800 Put Option added 3.17 lakhs in OI and having OI at 63 and 5900 Put Option added 1.8 lakhs with OI at 41 Lakhs so Bulls want to protect 5900 now .5500-6100 Put Options added 1.6 lakhs in OI, With close above 5900 but no major addition implies high can be dicey so trade with caution.
9. FIIs buying in Equity in tune of 838.57 cores and DII sold 662.78 cores in cash segment.Indian Rupee ,INR closed at 54.3 Live INR rate @ http://inrliverate.blogspot.in/).
10. Nifty Futures Trend Deciding level is 5950(For Intraday Traders), Trend Changer at 5916 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12249.
Buy above 5945 Tgt 5963,5987 and 6001
Sell below 5904 Tgt 5888,5866 and 5839(Nifty Spot Levels)
Disclaimer: These are my personal views and trade taken on these observation should be traded with strict Sl
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