NIFTY for 13/09/2019

NSE:NIFTY   Nifty 50 Index
Nifty today fell beyond expectations. It actually gave an indication of it yesterday in the form of small ( very small difference between high and low) doji candle. So, expiry done what do we see tomorrow ? Actually, there are mixed signals, so let me list out positives and negatives:
1) Rupee today climbed a lot (by 53 paise) to close at 71.1350. Very impressive.
2) FIIs were Net buyers today by 783 Crs and DIIs were net Sellers by small amount of127 Crs , according to provisional data. According to final data for 11th, FIIs were net buyers in all segments- Equity, index futures and stock futures . So it seems FIIs are turning to buying. That's a big positive.
3) Option chain data shows almost equal build up of OI and writing on Call and Put sides at 11000 strike ( CMP 10982.8 - But Put has a slight edge) for next week's expiry. So its not a one sided match!
1) On Chart it broke the rising channel (easily identifiable on 15 min time-frame) and closed below it.
2) Closed below 20 DEMA which should have acted as support on Daily time frame.
3) Closed below important psychological mark of 11000.
Since today was expiry, unexpected and wild moves were expected. Due to today's fall a selling area got created and hence I have marked it. However, there is a rider to it. On daily chart , Nifty finished as higher high and lower low ( than yesterday's candle) as a red candle. If Nifty breaks today's low then chances of that sell trade going good are more. So in initial hours, even if Nifty opens gap-up, if it falls and breaks today's low and then rises till our Selling area - take the trade.
All the best. Happy trading.
Great analysis.
Nifty ws in the buying area for a brief time and starting going up, up and up.Buy calls could have given good returns.Sell calls hit stop loss.
@sosmuthu, yes. And hence the 'great analysis' didn't help. It was a kind of index management. Will write about it when I post for next week.
well done.... Keep going
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