Nifty Trend analysis for 9 Jan

By | January 8, 2013 7:01 pm


1. FIIs bought  1190 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 53.31 cores with net Open Interest decreasing by 5426 contracts.

2. As CNX Nifty Future was up by 20 points with Open Interest in Index Futures decreasing by 5426, so FIIs have booked profit  in both longs and short in Nifty and Bank Nifty Futures.Why i say so yesterday we gave an indication of FII shorting the index today they covered at lower level bought longs that to got squared off. As the average Buy rate comes as an weird number of 8959 suggesting intraday trades taken by FII.

3. NS closed at 6002 after making high of 6007 (Almost near to our resistance level of 6003 as discussed yesterday) and low of 5964.Nifty has crossed two major resistance 5930 and 5965 with gap ups and these gaps remains unfilled.Today the gap of 5980-5951 had started the gap filling process and would not be surprised to see Nifty come down and fill the gap completely.

4. Resistance for Nifty has come up to 6008 and 6018  which needs to be watched closely ,Support now exists at 5991 and 5975 .Trend is Buy on Dips till 5920 is not broken on closing basis.

5. Nifty Future January Open Interest Volume is at 1.57 cores with liquidation of 3.6 lakh in Open Interest,shorts  got unwounded.Cost of Carry of Nifty Future increased to 10 with fall in OI suggesting short covering.







6. Total Future & Option trading volume at 1.01 lakh Cores with total contract traded  at 1.67 lakh, PCR (Put to Call Ratio) at 0.98 and VIX at 13.27.

7. 6200 Call Option is having highest Open Interest of 80.6 lakhs with liquidation of 2.5 lakhs in Open Interest, 6100 Nifty CE  is having second highest OI at 57 lakh also saw addition of 2.4 lakhs in OI,with Option premium at Rs 46  shorts got covered in 6100 CE,  .5700-6300 Call Options liquidated  6 lakhs in OI.

8. 5800 Put Option is having Open Interest of 71 lakhs with addition of 7 lakhs in OI so firm base is set up at 5800 and 5900 Put Option added 1.5 lakhs with OI at 63.5 Lakhs,6000 PE addeed 4 lakhs in OI suggesting bull  eyeing to make base at 6000 .5700-6300 Put Options added 17.8 lakhs in OI.Bulls are in control as per option analysis.

9. FIIs buying in Equity in tune of 887 cores and DII sold 1028 cores in cash segment,INR closed at 55.20 Live INR rate @

10. Nifty Futures Trend Deciding level is 6056(For Intraday Traders), Trend Changer at 6001 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12733.

Buy above 6008 Tgt 6018,6045 and 6077

Sell below 5990 Tgt 5975,5964,5951(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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