Nifty and Bank Nifty gets dose of Rajan Effect

• FIIs bought 45375 contracts of Index Future worth 1198 cores with net Open Interest decreasing by 37997 contracts.So FII were on short covering spree today. After covering they went long and pushed bank nifty to 9% up. A move not seen in recent trading history.

• Nifty is approaching the higher end of falling trend line as seen in below chart.Any close above 5625 will give a short term target of 5686.

• Nifty Future Sep Open Interest Volume is at 1.77 cores with liquidation of 7  lakhs in Open Interest,so short covering only and no major long addition.
  

• Total Future & Option trading volume at  1.45  lakh with total contract traded at 3.9 lakh ,PCR (Put to Call Ratio) at 1.03.

• 5700 Nifty CE  is having highest OI at 40.9  lakhs with negligible addition in OI. 5600 CE liquidated 0.86 lakh in OI will be strong resistance in short term. 5300-5700 CE liquidated 7.9 lakh in OI.
  

• 5300 PE OI at 66 lakh remain the highest OI, remains the firm support for time being. 5500 PE added 10 lakh in OI, suggesting strong support at 5500. .5300-5700 PE added 4.2 lakh in OI.
  

• FIIs bought in Equity in tune of 1101 cores ,and DII sold 492 cores in cash segment.INR closed at 66.

• Nifty Futures Trend Deciding level is 5607(For Intraday Traders). NF Trend Changer Level (Positional Traders) 5458 and BNF Trend Changer Level (Positional Traders) 9082 .NF trend changer level was quiet volatile and triggered sl for shorts carried forwards from yesterday. Do not lose discipline stick to system. One good move is bound to come in next 2 days looking at behavior of trend changer level. This is what i said yesterday and see how market rewards a discipline traders.2 times sl triggred but one move of 150 points 🙂 Bank Nifty traders trading on TC level would have made a killing today 🙂
  

 

Buy above 5600 Tgt 5625,5650 and 5686 (Nifty Spot Levels)

Sell below 5580 Tgt 5555, 5520 and 5480 (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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