Nifty forms gravestone doji, FII data analysis

• FIIs sold 2302 contracts of Index Future (bought 5817 long contract and 8119 shorts were entered ) worth 68 cores with net Open Interest increasing by 13936contracts.So FII’s have slowly started entering shorts in Index Futures.IN our yesterday Option analysis FII have taken long in PE and today even though we saw a 52 Week High on Nifty but fell down during the session and closed in Red.
  

• Nifty made a new 52 week high today @6252 and Sensex Crosses 21K For The First Time Since November 2010. Nifty moved above 6220 invalidating the triple top pattern but was unable to sustain at higher levels and saw a fast and furious decline. Till now Nifty is unable to close above Weekly trend changer level of 6207 and tomorrow being a weekly closing bears will try to close nifty below 6100 and bulls above 6200. Nifty has formed a gravestone doji pattern which is again a reversal pattern and closed below the up trending channel also, signalling another round of selling can come tomorrow. We also have ITC and ICICI Bank result tomorrow both Index heavyweight having weight age of 10% and 6% respectively.

• Nifty Future Oct Open Interest Volume is at 1.75 cores with liquidation of 7  lakhs in Open Interest,with fall in cost of carry, long  liquidation and short addition in market.
  

• Total Future & Option trading volume at  2.05 lakh with total contract traded at  3.7 lakh.PCR (Put to Call Ratio) at 1.02.VIX moved above 20 again.

• 6300 Nifty CE  is having highest OI at 60  lakhs with addition of 0.76 lakhs in OI most likely is the top end of October series. 6200 CE added 3.7 lakh, with net OI at 45.7 lakh suggesting 6200 will be resistance, 4.9 liquidation  in 6100 suggests we can dip below 6100 again tomorrow. FII’s sold 6.9 K in Call option and  7 K  CE were shorted ,so FII’s are going with bearish view on market in short term. 5900-6300 CE liquidated 3.8 Lakh in OI.
  

• 6000 PE added 5.6  lakh suggesting strong support at 6000, 6100 PE liquidated 4.9 lakh with net OI at 55.5 lakh so Bulls have liquidated there positions and 6100 can break in next 2 days. FII’s bought 6.4 K in Put option and 3.7K  contracts were shorted. I cautioned yesterday Such huge addition in PE by FII’s just be look with caution, and strict Stop loss on Long position, Hope traders did not got stuck at higher levels. 5900-6300 PE liquidated 7.4  lakh in OI.
  

• FIIs bought 992 cores in Equity ,and DII sold 735 cores in cash segment.INR closed at 61.59.

• Nifty Futures Trend Deciding level is 6213(For Intraday Traders). NF Trend Changer Level (Positional Traders) 6039 and BNF Trend Changer Level (Positional Traders) 10390 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
  

 

Buy above 6187 Tgt  6205,6230 and 6251(Nifty Spot Levels)

Sell below 6155 Tgt 6121,6100 and 6077 (Nifty Spot Levels)

 

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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