PromodSshrivastava

PromodSshrivastava

Nifty breached the first resistance of 17693 effortlessly today with some power buying by FII (1274cr) and DII(533cr). The next critical resistance is at 18032 which could be threatened tomorrow. PCR remained firmly at 1.51 with option writers comfortably writing put options and expecting a bull run. There is so much firepower and with a strong rupee there is...

PromodSshrivastava

Nifty made a bullish candle above 200EMA. Aggressive buying by FII 903cr and DII 803cr. ensured a one sided move up. PCR increased to 1.36 from 0.97 indicating bullish sentiment among option writers. If Bank Nifty sustains above 36479 then we could see higher levels of 37457- looks quite likely if FIIs continue to buy. CPR is wide so we could see consolidation- it...

PromodSshrivastava

Nifty made a big bullish green candle stopping short of a critical resistance of 17693. If a gap up opening sustains tomorrow, we could see further up move- the next level to look for is 18032. PCR shot up to 1.5 indicating extreme bullish sentiment of option writers. PCR indicates a reversal may be around the corner. Buying by FII 903cr and DII 803cr together...

PromodSshrivastava

Bank nifty broke above 200EMA witha strong bullish candle and clsoed above it. FII 575cr and DII 1741cr strong buying support finally propelled bank nifty above 200EMA. Question is whether FIIs will continue to buy and will it sustain above 200EMA. The PCR at 0.97 is certainly encouraging sign from option writers who have a more balanced view (rather than a...

PromodSshrivastava

Nifty turned a corner this week when it broke and closed above 20EMA with a strong green bullish candle. FII turned net buyers on the last trading day (575cr) and DII (1166cr) to help along the index rise. PCR at 1.26 indicates bullish bias of option writers but a higher PCR is also a contra indicator that a fall is imminent. If Nifty sustains above 20EMA on...

PromodSshrivastava

Bank Nifty closed with a green candle but with little to cheer as it closed yet another daily candle below 200EMA. 35358 is a critical resistance on the upside while 34456 is the next support below. PCR at 0.73 indicates option writers' view expecting some more downside. CPR is a narrow one with 66 points width, so we could expect a trending day. Continued...

PromodSshrivastava

Nifty made doji today as well....yesterday was a Doji candle too. Market traded in a rather small range. PCR at 0.97 too indicates uncertain view of option writers as to which way the market could move. Day showed strength of Nifty today as 986cr selling by FII was far more than 578cr buying by DIIs---and still the markets showed resilience and held on to the...

PromodSshrivastava

Nifty made doji today as well....yesterday was a Doji candle too. Market traded in a rather small range. PCR at 0.97 too indicates uncertain view of option writers as to which way the market could move. Day showed strength of Nifty today as 986cr selling by FII was far more than 578cr buying by DIIs---and still the markets showed resilience and held on to the...

PromodSshrivastava

Bank Nifty breached 35k in the closing minutes after a long consolidation during the day. PCR fell to 0.7 with option writers fearing more downside. This fall despite net 32cr buying by FII/DII today. CPR tomorrow is 60pts wide -open below CPR will probably result in CPR resistance and a sharp downtrend. 34456 is strong pivot support on the downside. 8th...

PromodSshrivastava

Nifty closed on a aritical pivot 17213 with an indecisive doji candle today. With DII/FII net at 32cr, market remained neutral from the other participants as well. PCR at 1.09 dropped from yesterday-also indicates a neutral view of option writers as well. If Nifty remains above 100EMA, net resistance is at 17375, if there is a gap down opening and 100EMA is...

PromodSshrivastava

Bank Nifty made a red candle today, despite buying by both FIIs +207cr and DIIs +567cr --which indicates some worry. PCR dropped today to 0.93 indicating reluctance of option writers on Put side. CPR is almost a single line with almost no width--indicates a trending day. Will Bank Nifty find institutional buying support to breach the 200EMA or will we see some...

PromodSshrivastava

Nifty has made a green candle --breaching the 100EMA and 50EMA. FII +207cr and DII +567cr both net buyers today. This helped the Nifty go higher. Will FIIs be net buyers tomorrow also? Lot will depend on that. The CPR will be extremely narrow---almost one single line---so likely to see a trending day tomorrow. PCR increased to 1.26, on a contra view could see a...

PromodSshrivastava

Bank Nifty closed with a green candle today taking support at 34384 pivot. Worry remains that it is still trading below the 200EMA. FIIs sold for 1038cr while DII bought for 956cr today. So even without significant selling pressure form institutions, the markets couldnt break away upwards. PCR is at 1.11 which shows sense of relief from put writers - contra view...

PromodSshrivastava

Nifty made a strong green candle today but fell short of the 50EMA. Last trading session, nifty had taken resistance at 50EMA and made a red candle. Gap up opening tomorrow could mean Nifty taking resistance again. FIIs sold for 1038cr today and were almost matched by DIIs 956 cr buying. PCR jumped above 1.16 indicating expectation of upwards momentum by option...

PromodSshrivastava

Bank Nifty has taken support at 50EMA this week. However the FII (-715cr) and DII(-43cr) both selling off on friday -indicates propensity to continue selling Which might mean more downside to come. A small pullback however cannot be ruled out. Let us see how markets go on the last trading week this calendar year... For calculations on CPR and more data for...

PromodSshrivastava

Nifty made a large red candle on friday...engulfing the doji made on thursday. Candle's high was resistance of 100EMA and closed at 17k which is a critical support. PCR at 0.87 indicates that option writers are still more comfortable selling a call option. FII -715cr and DIIs -43cr both sold on friday -its profit booking or cashing in before elections -whatever...

PromodSshrivastava

Bank nifty (almost) filled the Gap. Halted at the 200EMA resistance. This is the fourth consecutive daily candle formed below the 200EMA. The retracement might be over and we could now witness the weakness come back. The PCR for 30th expiry at 0.77 still shows reluctance from option writers to place bets on put side. FII sold just 272cr compared to 1196cr buying...

PromodSshrivastava

Nifty made a Doji candlestick today with stiff resistance at 100EMA. The pullback could end here and we could see a downward trajectory from here on. Unless, early momentum takes prices above 100EMA and it sustains- then we could see an upward move signalling the end of correction. FII DII net at 925cr has been the highest level of buying support that the markets...