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I rest my case for both typesFactors in support of BULLS: 1) Nifty opened 150 points gap down but rallied right after start, clocked in a high of 14673 ( +192 points from low) and closed at 14634 (153 points above low). Similarly Banknifty too opened gap down but closed 660 points above its day’s low. So both indices recovered from lows significantly after gap down openin,g primarily due to very weak global cues and Covid hangover. 2) Total Covid cases declared today were less than that announced yesterday and day before so cases might be reducing. 3) DIIs were net buyers worth around 553 Crs even though FIIs sold heavily. 4) As per Nifty option chain, total OI and Put writing is better on PUT side than on CALL side – Near LTP, highest total OI (38,606 lots) and highest fresh Put writing (13,915 lots) is seen on 14500. At 14400 too there is good total OI and Put writing to back up. On Call side, Highest total OI (58,560 lots) and Fresh Call writing (18,157 lots) both are far away at 1500 strike, meaning Nifty has so much upside! 5) SGX Nifty, at the time of writing this was trading at 14723 and DJIA is trading 312 points up so global market scenario for tomorrow looks positive. Factors in support of BEARS: 1) Nifty closed just at yesterday’s close so not much gain over previous close. Further, both Nifty and Banknifty couldn’t close significantly above their respective mid lines of Bollinger Band signifying a resistance for both the indices. 2) It is historic occurrence that every Monday ( and sometimes even Tuesday) cases show decline because lot of testing labs don’t work on Sundays so they don’t report figures on Monday. So there is decline in figures reported on Monday or Tuesday but then it jumps massively on Wednesday. 3) FIIs sold massively in cash (- 2289 Crs) and also in index (-1916 crs) and stock futures (-193 crs) showing it is in mood to wind up a lot of positions. So I rest my case for Bulls as well as bears- take your pick and trade.
NSE:NIFTY
by protrader1969
Is the tide turning in Nifty?Is Nifty in consolidation mode. But how can it be? It fell almost 144 points (0.95%) on Friday, so have our markets not entered correction phase? Let’s see some data. Nifty’s life time high 15,431.75 was reached on 16th Feb and on Friday, 12th March (after almost a month). Nifty touched 15,336 during first 5 minutes and then after half an hour or so couldn’t go past 15300 during the entire day and started falling after 12 pm continuously till it reached intraday low of 14953, bounced back and closed at 15030.95 - meaning closed above 15000. What does it mean? To me, It says that Nifty’s range as of now is 14950 to 15300. Let us confirm this using option chain. On PUT side highest total OI (28,046 lots) and highest Put writing (13,676) is at 15000 strike meaning as of now, 15000 looks OK support. On CALL side, highest total OI (53,615 lots) and highest Call writing (44,765) is at 15300 which means 15300 looks like solid resistance. One more minor observation, look at volume of Call OI and Call writing-it is significantly higher than on Put side, which tells us that markets are on bearish note. But then, FIIs were buying so how come markets are showing bearish signs? So let us examine FII and DII buy/sell figures. On Friday, FIIs were net sellers in Equity Cash segment by 164 Crs and DIIs were net sellers by 942 Crs. FIIs (net) sold index futures by 586 Crs and stock futures by 1,357 Crs. Maning FIIs sold well on last Friday. Going further, out of last 6 trading sessions, in Cash segment, FIIs were net sellers in 5 sessions. In only one session they bought stocks worth 2,802 Crs whereas DIIs, during the same period, were net buyers in 3 sessions and net sellers in 3 sessions. This implies that days of blanket buying by FIIs are over and similarly days of blanket selling by DIIs are also over. Now stock and sector specific buying and selling will happen which again means that markets are in consolidation phase. On Charts, Nifty fell from its intraday high, which it reached after more than 15 sessions, to close as a big bearish red candle taking support at mid-line of Bollinger band (20 day SMA) and 20 DEMA and closed above psychological support of 15000. So if world markets are supportive, Nifty might open gap up and climb up. On Friday night, US markets gave mixed signal- DOW (DJIA) was up by 0.90% but NASDAQ closed 0.59% down and S&P500 closed marginally 0.10% up- so it is not alarming scenario. SGX nifty at night closed at 15090 up by 61 points which indicates positive bias w.r.t. our Nifty. In a nutshell, Nifty looks bullish so buy at around 14,950 and sell within the selling Area demarcated on chart (15,200 -15,235) with SL above 15,240. There is a clear-cut resistance at 15,300 so Sell here and put SL above 15330. Happy trading, stay safe, stay healthy.
NSE:NIFTY
by protrader1969
2
Why so serious?On last Friday Nifty fell by 568 points (-3.76%), Sensex fell by 1939 points (-3.80%) and BankNifty fell by 1745 points (4.77%). All the 50 stocks in Nifty closed in negative? What happened? Why so serious? Reason given by various news sources- Bond yields in US increased a lot which resulted in USA and global markets to fall. OK… so how much did US markets fell on previous night (Thursday night)? DJIA -559 points (-1.75%), Nasdaq -478.5 (-3.52%), S&P 500 -96 (-2.45%). All the US indices closed much better than Indian markets. How come US markets were not worst affected when crisis is in US not in India? Another thing- how much did bond yields increase so it warranted such massive global fall? The 10 year US treasury bond yields increased from 1.08%, at the start of the month to 1.61%, Thursday morning (US time). So you can see the increase was gradual not overnight; then why sudden panic? So was it triggered by some comment from treasury secretary (Janet Yellen) or fed Chair (Jerome Powell)? As I can see – nothing! No negative comments visible on internet or TV or papers! So then why sudden reaction? Also how the increase from 1.08% to 1.61% explain such huge liquidity pull out from stock market in one trading session? Newspapers/ articles on various sites suggest that market analysts inferred that such rising bond yields will lead to inflation and hence rising of interest rates and hence shortage of liquidity and hence massive pullout now! Ok.. so where are you putting these funds? Gold, the safe heaven – Gold has hit fresh 8 month low- so clearly nobody is investing in Gold, which means they (institutions) are holding on to liquidity. Why? Let’s look somewhere else- another news flashed Friday morning at around 7am India time – US launches air strikes against Iranian backed groups in Syria. Could that be the culprit? In my opinion, Yes. Any war like situation, any aggression, any attack or even rumour of attack- institutions are fast to pull out money. Throughout the day Indian markets kept falling because no fresh news was being heard on that front and in markets- no news is indeed bad news. So US markets fall was in reaction to rising bond yields in US but Asian markets fell, I think, because FIIs wanted to play it safe. They have reaped massive profits since March end so it does make some sense to book some profits in case anything worse happens. Proof of why I am saying this is found in Friday ( next day’s )fall in US markets which I believe was a result of US airstrikes and FII figures in Indian markets. On Friday FIIs were net sellers by 8295 Crs. And DIIs were Net buyers by 1500 Crs. On Wednesday itself FIIs were net buyers by 28740 Crs (I really do not recall such huge number seeing even during rally in one trading session). Indian markets still are the best investments for FIIs so why will they pullout such huge money just 2 days after massive investment? War like emergeny- does trigger such immediate withdrawals. So the million dollar question is – what now? How do we see markets on Monday? Well, are we seeing any repercussions of Friday’s airstrikes on subsequent days. So far, no negative news is coming off of any sources so I would conclude that war fears are over. Does it mean that Nifty opens gap up and rushes up! Not likely. The hangover will subside slowly. So Nifty may open up flat or gap-down but after some consolidation during the day will surely go up. From which levels it is likely to go up? Friday’s low was 14467 and close was at 14529, meaning Nifty did close above psychological support of 14500. Also, 14502 is 50% level according to Fibonacci retracement. So my guess is Nifty is not likely to go below 14467 but if it goes down then next support is at 14282 which is 61.8% on Fibonacci. So worst comes to worst, Nifty will bounce back from 14280 levels and there are still 4 days to expiry. My thinking is Nifty will start going up Monday itself and FIIs themselves will start buying. However, there is strong selling area between 14880 & 14930 where it will stagnate a little bit, whenever it reaches there, and then go up or consolidate. For us traders, buy on Monday wherever you see Nifty consolidating at bottom and sell at above mentioned selling area. Happy trading.
NSE:NIFTYLong
by protrader1969
2
What's nextI have been wrong in predicting the time of top but expectation was always around 31200-31500. Now index has reached to the target of current slope . Volume has been dropping in recent upmvoe whereas RSI couldn't cross the previous top and 70 levels. This is not a sign of strength where RSI is trading below 70 but still market is moving up. It can move higher once it crosses previous RSI peak in the 70 zone and also closes abv the upper boundary of trend. Till that time keep close SL on positions.
CBOT_MINI:YM1!
by TukkaNomist
Will Nifty cross 15000 tomorrow?That’s the question on everybody’s mind- Will Nifty cross 15k tomorrow (today’s high was 14913.70). Let’s examine through usual data: 1) FII & DII figures: FIIs were net buyers in Cash (impressive 1936.74 Crs) and DIIs were net Sellers (-768.55 Crs). In index futures though FIIs were Net sellers (-1555.11 Crs) and net buyers in stock futures (518 Crs). This means FII is unabashedly buying in equity left, right and centre like in pre-budget-profit booking days (i.e. before 20th Jan) but they are apprehensive of index in near short term- hence the selling ( note also that total selling was only 6113.15 Crs, which means FIIs sold approx. 25% more than they bought). 2) Option chain: On PUT side, highest total OI is understandably at 14500 (17,305 lots) and highest PUT writing also on same strike (10692 lots). 2nd highest total OI (11871 lots) is at 14700 and 2nd highest PUT writing (7,875 lots) is at 14800, where total OI is seen at 11,404 lots which is also significant. So, in a nutshell 14800 and then 14700 are looking as good supports. On CALL side, highest total OI (23,274 lots) and 2nd highest CALL writing is at 15000 strike and highest CALL writing (14,764 lots) is at 15500 strike- almost 600 points away! Such is the fear of Nifty rising! And that is why we have such high VIX, though it fell today. Interestingly 2nd highest total OI is at 15500-again 600 points away. 3) Charts- On daily chart look at the curve outlining Nifty highs (roughly) for past 4 sessions. Doesn’t it look like it is topping out? One more observation – Nifty and banknifty futures closed at discount than their respective spot prices. 4) At the time of writing this ( 11:10 pm) DJIA ( Dow jones ind. Average) is trading 241 points up (0.78% up). SGX Nifty closed at 14900. So the world markets are looking good which means opening would be good/ gap –up. But 15000 will present resistance as suggested by option chain and chart as well. Remember FIIs too sold Nifty futures in significant amount and index futures closed in discount. The last three data points suggest that even though Nifty may open gap up and touch 15000, it will be very difficult for it to sustain there and selling may start. Therefore one can Sell nifty at 15000 and buy near today’s low between 14715-14750 (between 2 supports as pert option chain).
NSE:NIFTY
by protrader1969
1
Basics of Dow theory trading strategy forecasts:What is Dow theory? The Dow theory is a financial theory that says the market is in an up-trend if one of its averages (i.e. industrial or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow Jones Transportation Average (DJTA) is expected to follow suit within a reasonable period of time. What Is Support? Support refers to the price level that an asset does not fall below for a period of time. An asset's support level is created by buyers entering the market whenever the asset dips to a lower price. In technical analysis, the simple support level can be charted by drawing a line along the lowest lows for the time period being considered. The support line can be flat or slanted up or down with the overall price trend. Other technical indicators and charting techniques can be used to identify more advanced versions of support. What Is Resistance? Resistance, or a resistance level, is the price at which the price of an asset meets pressure on its way up by the emergence of a growing number of sellers who wish to sell at that price. Resistance levels can be short-lived if new information comes to light that changes the overall market’s attitude toward the asset, or they can be long-lasting. In terms of technical analysis, the simple resistance level can be charted by drawing a line along the highest highs for the time period being considered. Resistance can be contrasted with support. what is support become become resistance? when price breaks the resistance and after it will be create a support that same level this situation was called by support become resistance. what is resistance become support? when price breaks the support and after it will be create a resistance that same level this situation was called by resistance become support. How To Read The Support Level On Chart? Share prices which are subject to recurrent oscillations command the attention of investors at all times. Aiding investors make their move; it is significant for them to read the resistance level on the chart which can bring a chance for them to make a good buy when the prices are balanced to rise higher. How To Read The Resistance Level On Chart? In disparity, when the price enters the resistance level, the market is noticeable of traders’ combat with a pressure to sell, when the price of the stock is balanced to fall further, going by its past performance. Hence, these two factors are important for every investor to base his entry and exit moves in the share market when these determinants go a long way in representing the direction of the price of the stock, whether it will rise or drop.
NSE:TCS
by Trade-Technique
24
NIFTY for 23rd MarchTwo factors will weigh heavy on markets tomorrow when it opens- One, DJIA (Dow Jones Industrial Average) closed 4.55 % down at Friday’s close- again a significant fall after Wednesday’s and Thursday’s slightly muted activity. Two, Italy posted highest single day number of deaths (793) in world yesterday – much higher than that of China throughout its crisis period. This will be perceived as overall Europe’s status or the way it is coping up with crisis. These factors might pull Nifty down. However, one positive factor will lend its weight too- SEBI’s tightening of norms to cut down short positions will lead to some short covering but I suspect it will be in some stocks only since MWPL above 50% is seen in less than 10 stocks as of now. This might prop Nifty up. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content. FII sales are continuing but the figures are consistently reducing day by day- they too have nothing left to sell it seems as far as Equity is concerned. They are buying in Index and stock futures though, which means they are pretty positive that a recovery is in sight within three months at the most. DIIs are buying continuously. Option chain shows the trading range between 8500 – 9000 on the basis of total OI but fresh writing is just not there since IVs are so high that traders are just not buying contracts. Currently INDIA VIX is at 67 – first reduction on Friday in 2 weeks! On daily chart, Nifty is in oversold region (RSI -25.19). Swings could be wide tomorrow during opening times so take trade after Nifty stabilizes. A buying area and a selling area is marked on 15 min chart for tomorrow. Use SL for sure. All the best. Happy trading.
NSE:NIFTY
by protrader1969
2
Nifty Weekly chart analysis - Bulls need not worry about Corona As observed on the weekly chart of Nifty 50 bulls have nothing to worry as of now as the uptrend is intact. The previous swing low (10637+) is is intact and its still trading above 200 Wk SMA (which is currently at 10290) Nifty is currently at 61.8% retracement level from the March 2018 low to Jan 2020 high (all time high) Bulls who are going long now without worrying about Corona Virus will most likely get coronated later part of the year! As I said we are in good position as long as preious swing low and 200 Wk SMA are still intact. Cheers, tRex
NSE:NIFTYLong
by k314
4
NIFTY for 3rd MarchOur markets fell in last one hour on the news that 2 patients in India were detected – one in Delhi, who had come from Italy and one in Hyderabad, who came from Dubai. However, both the patients are admitted in hospitals, are in isolation and government in both states are monitoring situation closely. The panic selling , I think was overdone. Meanwhile, if we look at world markets, DJIA is 340 points up ( 1.34%), NASDAQ is 1.17% up, British markets 1.04% up, French market are nearly flat, and German markets are 0.59% down. As for corona virus update on world front, number of infected persons have reached 89,851 and 3069 people have died across the globe. Cases in Iran and Italy have risen and Iran has reported 12 more deaths. In our markets, FIIs remain sellers largely and DIIs are looking at every opportunity to buy. Option chain shows that Nifty has decent support at 11000 and will meet with tough resistance at 11400. On daily chart, Nifty made a long red candle with higher high but lower low and lower closing price. Now Nifty is out of lower band of Bollinger band and RSI is at 23.56, meaning in oversold area. So a reversal is due. Due to today’s sudden fall, however, two selling areas got created which are marked on the given 15 min chart. 2nd Selling area will be formidable to cross. So one can take short trade if Nifty is in these selling areas, otherwise at lower levels, I would go for buying. All the best. Happy trading.
NSE:NIFTY
by protrader1969
10
NIFTY for 2nd MarchJust few days back, on 25th February I had written (for my post on 26th February) that Indian markets are in strong bearish phase and listed three reasons why will we suffer a great fall, advocating sell on any rise with proper reasons culled from charts, option chain data and FIIs, DIIs buying and selling figures. Nifty Closing on 25th was at 11798 and Nifty closing on 28th (last Friday) was at 11201.75- a fall of around 600 points in just 3 days! Corona virus outbreak is breaking into new geographies and increasing number of countries are reporting new cases. According to website worldometers.info there are 86993 cases of corona virus infections across the world now with 2979 confirmed deaths. Iran, Italy and South Korea are worst hit among countries outside China. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content. Having said all this, now I am saying Indian markets are most likely to bounce back from these levels. How? Why? Let me list reasons one by one- 1) Stability in cases and reductions in new deaths from China means that soon manufacturing and other important economic activity will resume. And knowing China’s ability to scale up, it is very much possible that in no time it can cover lost ground and resume supply chain activity at their earlier normal speed. 2) On Friday, FIIs were net sellers by 1428 Crs and DIIs were net Buyers by 7621 Crs. Read this figure again- DIIs were net buyers by 7621 Crs ( Bought : 11757 Crs and Sold : 4136 Crs). Normally DII buying figures are in the range of 3500-4000 Crs. First time in last so many months I am seeing net buying figure above 7500 Crs ( more than 5 times FII sales figures). This means DIIs will now go to any lengths to buy stocks since the valuations for a lot of stocks are very attractive. 3) Look at DJIA (Dow Jones Industrial Average) 15 min chart on Friday. In last 15 minutes it jumped from a low of 24767 to close at 25392, a jump of 625 points, traversing the entire intraday range. Such high speed recovery, that too during weekend, shows pent up buying appetite among institutions/HNIs. This will definitely cast its effect on world markets on Monday. 4) Now let us move to Nifty daily chart. On daily chart Nifty has made a complete candle outside the lower band of Bollinger Band. Whenever such occurrence is seen, a bounce-back is seen within next 2-3 days for sure. 5) RSI on daily chart is at 24.67- much below oversold level of 30. 6) Nifty is right now in weekly demand zone- meaning a reversal is on cards. So keeping in mind all these reasons, I expect a bounce-back on Monday itself. Tomorrow if Nifty opens gap down I will look at buying in small quantities at every fall. The supports and immediate resistances are shown on 15 min chart. I certainly expect this weekly expiry somewhere near 11500. I could be wrong but above listed are my reasons for this optimism. All the best. Happy trading.
NSE:NIFTYLong
by protrader1969
NIFTY for 26th FebruaryAs of now, DJIA is 150 points down approximately and European markets are in red – FTSE is 1.40 % down, CAC is 0.1.37 % down and DAX is 1.22 % down. Our markets, or especially banknifty made a valiant attempt at rising but could not sustain the highs and came back down. Corona virus epidemic has claimed more than 2700 death worldwide and new cases are being discovered in hitherto not so exposed countries like Iran, Italy & South Korea. The situation in each of these countries is very serious. It will take months to understand the real damage done to world economy in general and these economies in particular. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content. Now what about exposure to our markets? Three reasons why our markets are in strong bearish phase: 1) India VIX (volatility index) is now at 16.9. The budget day high was 17.9 meaning that we are near very high levels. This can also be seen in nifty and banknifty premiums which are very costly due to high IVs (Implied volatility). And when India VIX is high, there is a strong probability that markets might fall, so brace for downturn. 2) Provisional figures given today show FIIs were net sellers by a whopping 2315 Crs (and DIIs were net buyers by 1565 Crs). The final FII figures for 24th February, show that FIIs sold heavily in equity (1001 Crs), index futures (1245 Crs) and stock futures (990 Crs)- all segments. FIIs are either selling or trading! 3) On daily chart, Nifty made a strong bearish candle with lower high, lower low and lower close, is trading below 20, 50 and 100 DEMAs and broke the crucial neck-line of ‘head and shoulders pattern’ yesterday decisively and closed much below it. The next ostensible support is at 200 DEMA, 11717, but that too might crumble given the state of world markets. According to option chain data, we see complete absence of Put writing on any strike even though there is good total OI (32.70 lakhs) at 11800 strike on PUT side. This makes me believe that PUT writers are not confident about any support which in turn means that avoid buying at any level as of now. On CALL side, at 11900 strike, we see good Call writing and 2nd highest total OI (36.74 lakhs). So mantra is to sell on rise. The Selling areas are marked on 15 min chart. So I would actually divide my capital in two parts to take trade there. As for buying, 11700 could be bought at but buy with strict SL since markets are not conducive to buying at all. All the best. Happy trading.
NSE:NIFTYShort
by protrader1969
NIFTY and BANKNIFTY for 25th FebruaryAt this moment, Dow Jones Industrial Average (DJIA) is 922 points (3.18 %) down and NASDAQ IS 340 points (3.55%) down. European markets are all down by more than 3.5% each. As for our markets, Nifty today fell by 251 points (2.08 %) and Sensex went down by more than 800 points. This was 2nd highest single day fall in last one year (1st was after last year’s budget on 8th July) with 0 advances and all 50 declines in Nifty. In my active trading life I haven’t seen this figure of “0 Advances and 50 declines”. Markets are in great fear over corona virus outbreak- now spreading to middle east and European countries decisively. Iran reported more than 12 deaths officially whereas a report from IRNA (news agency) in city of Qom quoted a lawmaker pronouncing more than 50 deaths. South Korea and Italy are latest victims. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content. The markets will not be able to spring back quickly from this shock. At best they will remain flat. FIIs today were net sellers by 1161 Crs and DIIs were net buyers by 516 Crs. So whatever buying was there, it was in midcaps and small caps it seems. Option chain data shows heavy call OI build up meaning 11900 is tough resistance to scale. Frankly speaking, even 11850 should be decent resistance in this market. As for support, 11700 seems Ok for now since it also coincides with Nifty’s 200 DEMA (11,717). But I will certainly not be comfortable in buying nifty till it shows some strength. As for levels, Nifty levels are indicated on 15 min chart and in BANKNIFTY, no new levels are formed so stick to old levels for selling. Today’s high in Banknifty can also work as resistance if BNF reaches there. For buying BANKNIFTY at shown buying area in yesterday’s post, use strict stop loss since markets do not encourage buying at all. All the best. Happy trading.
NSE:NIFTYShort
by protrader1969
NIFTY for 10th FebruaryFriday night saw negativity return to stock markets. DJIA and other European markets ended in red. One reason could be the Tencent (biggest tech and media conglomerate in China) report which mentioned the death toll at much much higher (24,589) than official figures on their website for a very brief period after which they put out Chinese govt figures (around 763). Later Tencent denied and blamed that on aggregation by ‘epidemic situation tracker’ software. Coming to our markets, Nifty too ended in red but glimmer of strength was that in Nifty 50 stocks, advances to declines ratio was 1:1 despite around 40 point fall in Nifty. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content where I have talked a bit more about effect of corona virus on world and on Indian markets. FIIs were net buyers (162 Crs) and DIIs were net Sellers (178 Crs) on Friday. So FIIs will now remain mostly on sidelines till the situation is clear w.r.t. corona virus. Not that they are pulling out money but will continue to book profits and at the same time stay invested in value picks, it seems. Option chain shows bearishness since contracts on both Put and Call side are building towards short positions. On PUT side, highest total OI and 4th highest fresh Put writing is at 12000. So it looks like OK support for tomorrow but top three fresh Put writing are seen at strike prices 11900, 11800 and 11950 respectively. That shows less confidence of Put writers. On CALL side, 12200 is clear resistance since highest total OI and fresh Call writing both are seen at this strike price. On daily chart, Nifty made a lower low and lower high candle with lower close which took support at 20 DEMA. This however doesn’t prevent our markets going below that level if Asian markets are in negative on Monday morning. So Asian markets’ opening levels and their status at 9 am is very important tomorrow. As for levels, Buying levels are shown on 15 min chart and one can sell Nifty confidently if it is between 12,175 and 12,200 even though nothing is seen to this effect on charts. All the best. Happy trading.
NSE:NIFTY
by protrader1969
NIFTY for 7th FebruaryContinuous fourth day of rise for Nifty but it made a base-like candle and not a strong bullish candles like it made in last 3 days. Corona virus outbreak has ensured that oil is near $55/barrel and Chinese government has announced that it will pump $174 billion in Chinese stock markets. That has stemmed the fall in Chinese markets, in Asian markets and hence in world markets. All the European markets are trading in green and DJIA is 48 points up. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content. FIIs were net sellers by 560 Crs and DIIs were net buyers by 304 Crs. FIIs were net buyers in index futures (219 Crs) and stock futures (595 Crs). So they sold in Equity but bought in futures. It means that fear has subsided a bit. Option chains shows that there is good support at 12000 since it has highest total OI and 2nd highest fresh Put writing on PUT side. 12200 is clear cut resistance since it has highest total OI and fresh Call writing on CALL side. On 15 min chart, one can see that Nifty today approached 12160 repeatedly but could not clear it. That level will pose some resistance now, though the selling can be done only at 12200. So tomorrow I expect trading from both ends. One can sell Nifty at 12200 and buy near 12000. Actual levels are indicated on 15 min chart. All the best. Happy trading.
NSE:NIFTY
by protrader1969
NIFTY for 31st JanuaryTomorrow is friday-first day of new weekly and monthly series and a day before annual budget. So is there any reason why institutions would trade/invest big money tomorrow? NO. So do not expect big or even significant moves tomorrow. Having said that, One threat still looms large over minds of marketmen, which can bring big moves to our stock market- What new will happen globally now because of corona virus outbreak ? This fear can be seen in FII figures. Yesterday's final updated figures show that FIIs were net sellers in big way in all segments - Equity, 785 Crs; Index futures,542 Crs; Stock futures,1011 Crs (rounded off figures). Today's provisional figures also show same trend. FIIs were net sellers by 928 Crs and DIIs were net buyers by 292 Crs. Please remember that yesterday DIIs were net buyers by almost 1500 Crs - so they toned down their buying by big amount today. If you see current global market status, at the time of writing (22:15 IST), DJIA is 96 points down, FTSE closed 1.36% down, CAC & DAX both down by 1.40%. The fear is real. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Option chain is yet non-commital which is understandable so no great data is forthcoming from there. On daily chart, Nifty made a strong bearish candle which belied yesterday's expectations by many that markets may move up from yeaterday's close. Understand that Nifty was in downturn and then Corona virus happenned so Nifty's slide just accelerated. HNIs/institutions will wait for budget before they put sizeable money in market. On 15 minute chart, there are no clear cut buying or selling levels. There is one resistance where some chance for shorting NIfty can be taken with strict SL since it actually is not good selling area. All the best. Happy trading.
NSE:NIFTYShort
by protrader1969
2