S&P warning,Syria Attack lead to downfall in Nifty and Bank Nifty

• FIIs sold 68508 contracts of Index Future (Sold 17545 long contract and  50963 fresh shorts were added) worth 1850 cores with net Open Interest increasing by 33418 contracts. So news like S&P downgrading India and Attack over Syria added fuel to the fire and lead to panic selling by Retailers and FII also shorted big time.

• Nifty finally added its 4 day pullback rally today after falling below 5556 and what we discussed yesterday nifty oblized us 🙂  Today volumes were quiet less as most of FII’s are on holiday. We need a confirmation with a close above 5556 for the current pullback rally to continue, failure to do so we can see a pullback back till 5477 and 5426.Nifty has done faster retracement of the rise forming a bearish engulfing pattern suggesting bears are back with bang, Any close below 5296 will be very bearish in extreme short term. Bank Nifty as seen is below chart was unable to cross above its downward falling channel and corrected.Unable to hold 8600 Bank nifty will break down below 8300 and going sub 8000. Traders holding shorts as per PAC should have part book today, Book more in range of 520-5296 and keep Trailing your position 🙂

• Nifty Future Sep Open Interest Volume is at 1.86 cores with addition of 6.2  lakhs in Open Interest, no major shorts entered even though nifty fall down 210 points,suggesting no conviction in fall today by big players.
  

• Total Future & Option trading volume at  1.55  lakh with total contract traded at 5.2 lakh ,PCR (Put to Call Ratio) at 1.13. VIX bounced back and closed at 32,suggesting more volatility on cards.

• 5500 Nifty CE  is having highest OI at 38.4 lakhs with addition of 4 lakhs in OI. 5400 CE added 4.2 lakh in OI will be strong resistance in short term.As per FII analysis,36.6 K long were entered in Calls so hedged bet again by FII’s  just 225 K contract were written. 5100-5700 CE added 17 lakh in OI.
  

• 5300 PE OI at 68 lakh remain the highest OI, remains the firm support for time being. 5400 PE liquidated just 0.24 lakh in OI, suggesting PUT writers did not ran for cover and still holding on to there positions. 5500 PE also liquidated 5 lakh in OI so put writer and buyers both booking profits. As per FII data they added 24 K contract of PE and wrote 26 K contract so hedged bet taken by FII, as any fall in VIX will erode PE premium very quickly.5100-5700 PE liquidated 7.2 lakh in OI.
  

• FIIs sold in Equity in tune of 716 cores ,and DII bought 597  cores in cash segment.INR closed at 67.67. Has Indian Rupee made Short term Top, Weekly Analysis

• Nifty Futures Trend Deciding level is 5317 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 5432 and BNF Trend Changer Level (Positional Traders) 9017.NF and BNF trend changer level again got initiated today at 5432 and BNF at 9052 giving profit of 100 points in NF and 400 points in BNF 🙂
  

 

Buy above 5373 Tgt 5400,5428 and 5472(Nifty Spot Levels)

Sell below 5320 Tgt 5296, 5248 and 5215(Nifty Spot Levels)

 

I have been getting lots of mail to share performance of positional calls based on new trading course we have launched , Readers can see the performance  http://positionalcallsperformance.blogspot.in/

 

Live Nifty A/D charts  Click on the Link

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

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

 

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