How to trade nifty and Bank nifty futures on 22 Jan

1. FIIs sold 2746 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 81 cores with net Open Interest increasing by 6426 contracts.Are you a professional stock trader ? http://bit.ly/Wajuk7

2. As CNX Nifty Future was up by 20 points with Open Interest in Index Futures increasing by 6426, so FIIs again intitated fresh long  in Nifty and went short in Bank Nifty future. Risk to reward in Bank Nifty is favoring Bears now.

3. NS closed at 6082  after making high of 6095 and low of 6065 .NS was unable to close above Weekly trend deciding level of  6100  as discussed yesterday. Nifty is having a slow and steady rise which is confusing traders, as Nifty trading at 52 week high but breadth is not good so traders who are not in right stocks are not getting any advantage of rally, Such slow and steady moves are pain for bears and neutral traders are having biased towards shorts but as every dip is getting bought they are also unable to enter the market.

 

 

4. Resistance for Nifty has come up to 6100 and 6120  which needs to be watched closely ,Support now exists at 6064 and 6051 .Trend is Sell on Rise till 6100 is not broken on closing basis.

5. Nifty Future January Open Interest Volume is at 1.47 cores with addition of 1.55 lakh in Open Interest, longs were added  in Nifty future.Cost of Carry of Nifty Future increased to 9 with rise in OI.As NF are trading at fresh 52 week but still OI has not crossed 2 cores suggests most of market participants are sitting on sidelines as unable to decide the trend.

 

6. Total Future & Option trading volume at 1.05 lakh Cores with total contract traded  at 1.3 lakh, PCR (Put to Call Ratio) at 1.01  and VIX at 13.66.Volatlity is almost dead in Indian market

7. 6200 Call Option is having highest Open Interest of 82.5  lakhs with liquidation of 0.7 lakhs in Open Interest, 6100 Nifty CE  is having second highest OI at 64 lakh  added 3.3lakhs in OI,with Option premium at Rs 43 short got added in 6100 CE,6000 CE saw liquidation of 3.5 lakhs in OI  .5700-6300 Call Options liquidated 10 lakhs in OI.

8. 6000 Put Option is having Open Interest of 90.1 lakhs with addition of 10.3 lakhs in OI so firm base is set up at 6000 and 6100 Put Option added huge 12.5 lakhs with OI at 36  so bulls want to capture 6100 tommrow .5700-6300 Put Options added 21.7  lakhs in OI.

9. FIIs buying in Equity in tune of 842  cores and DII sold 890 cores in cash segment,INR closed at 53.87 Live INR rate @ http://inrliverate.blogspot.in/).

10. Nifty Futures Trend Deciding level is 6088(For Intraday Traders), Trend Changer at 6021 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12762.

Buy above 6100 Tgt 6120,6140 and 6160

Sell below 6080 Tgt 6065,6051,6020(Nifty Spot Levels)

Traders who use Pivot and Camarilla can use the follwing 2 sites for Hourly values and EOD values

http://camarillapivotpoints.blogspot.com/
http://niftystockpivot.blogspot.in/

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