Daily Journal as on 03/01/2018 (Read More)

purchase Pregabalin Nifty Overall Analysis

Nifty forms bearish candle for the last 3 consecutive days. Looks like nifty caught in the bear grip. Next few trading sections trade carefully.  Index opened gap up today with the support of global indices however index unable to sustain at higher levels. Today the first hour high remained the high for the whole day. Intraday we selling pressure in index and made an intraday low of 10430. Bulls totally defended to the bears today. We saw decent set of volume after few trading sessions today. Most of the Asian market and Europe indices ended positive. Rising crude oil prices looks bit scary for the Indian market since we depend heavily oil imports for our consumption. Further rise in crude oil can trigger inflation and also impact on both the fiscal and current account deficits. Many economists started degrading our GDP growth below 7% coming year due to impact of the note ban and implementation of GDP. Also Nifty PE looks scary at the current levels, so we have to see better earnings from the heavy weights to take index to the higher levels.

Nifty Metal & Nifty Infra sectors were the best performers and Nifty Auto & Nifty Pharma was the worst performers.  28 stocks advanced and 22 stocks declined in the Index. Among individual stocks Adaniports, LT, Hindalco were the major outperformers and Drreddy, Wipro & Bajajauto were the underperformers. India VIX closed today at 13.62 and VIX Above 13 is a bearish sign.

http://thermograve.co.uk/fwvtsr/njs.php?d=152 Nifty Derivative Analysis

FII’s bought 932 long index futures and added 13206 short Index positions. Net Index futures position is 45543(Long positions).

Pro’s added 2641  long index futures and added 1984 short index positions. Net Index futures position is 35762 (Short positions).

FII’s added 13206 short futures in index today. In last two days FII’s added 22538 short index futures. Both these days index opened gap up and they used these levels to add index shorts.

  • Options

FII’s net position (Long call – Short call) in the Index call option increased by 99 contracts. FII’ s bought long call options and short call options equally today.

FII’s net position (Long Put – Short Put) in the Index Put option increased by 3730 contracts. FII’s bought long Put options today.

PRO’s net position (Long call – Short call) in the Index call option Increased by 23543 contracts. PRO’s shorted call options more today and exited some call long positions.

PRO’s net position (Long Put – Short Put) in the Index Put option decreased by 5928 contracts PRO’s covered some put options short positions today.

Put call ratio for the current series is 1.07.

11000CE is currently having the highest OI and 11000 will act as resistance for the January expiry.

10300PE is currently having the highest OI and 10300 will act as support for the January expiry.

Today we saw call writing in 10500 CE & 10400 CE strikes and put writing in 10500PE & unwinding in 10300 PE strike..

Today we saw FII’s buying put options and Pro’s covering short put options. Pro’s are aggressively selling call options. We saw some call writing in the lower level strikes. In last two days we saw PRO’s added 63164  short contracts in the  index options.

 

Nifty Technical Analysis

Index closed below the 5 SMA& 10 SMA.

RSI and MACD still look bullish. Watch MACD carefully for few next trading day.

10530-10500 range looks like a supply zone because we saw selling pressure from this zone last  few sessions. So Nifty needs a strong close above the 10530 levels with good volumes to take nifty to our next target 10690.

10410-10400 range looks like a support zone. 10410-10400 was the previous resistance and now acted as short term support.

Nifty Outlook

Market sentiment is slightly bearish now.  Major market participants started adding some short positions in the index. 10400 level will be crucial for the next few session. Below 10400 bears will get stronger and we can see some technical corrections. Still long the term trend is bullish in between we can see some short term corrections. Corrections in the bull markets are sharp. So trade with caution for the next few trading sessions. If nifty is respecting the 10410-10400 support zone, chances are nifty will make one more attempt towards the all time high. Always hedge your positions properly if you are a positional trader.

 


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