Nifty Daily Analysis as on 19/02/2018 – Futures & Options Derivative Analysis (Read More)

mail order orlistat(xenical) Nifty Overall Analysis

Nifty tested the recent low as we discussed on our previous blog.  We need further confirmation to consider this as a near term bottom. 10300 level is a strong support and nifty pulled back sharply from 10300 levels multiple times. The last hour smart recovery from the low point of the day indicates that there is still good amount of buying interest at the lower levels. Bank nifty also need to support the nifty for the further up move. But the recent banking scams spoiled the investor’s sentiment in the banking stocks and we saw massive selling in the PSU stocks in particular.

For the last 3 days nifty is forming lower high lower low formation in the daily candlesticks. Technically Nifty closed near the 100 DMA, also during the last 2 recent selloffs index got strong support around the 100 DMA and pulled back smartly. As long as nifty is holding to 10030(Previous swing low) the long term trend is bullish in the charts and Chances are if nifty is able to hold on the 100 DMA we can expect trend reversal. 100 DMA will be the http://crug-glas.co.uk/2016/10/fishguard-show-fundraiser-at-crug-glas/ Lakshmana Rekha for the bulls and bears for coming days.

All the major sectors ended in red and Nifty PSU Bank, Nifty Metal & Nifty Pharma lost more intraday. INFRATEL, YESBANK & RELIANCE were the major gainers and TATASTEEL, DRREDDY & BAJAJAUTO were the major losers. In the NSE stocks, Advance decline was in total favor for the bears, 297 stocks advanced and 1213 stocks declined. 2 stocks made 52 week high and 54 stocks 52 week low as well.

http://cthousebuy.com/blog/home-improvement/ Nifty Derivative Analysis

  • Futures

FII’s sold 5005 long index futures and added 8604 short Index futures position. FII’s Net Index futures position is 32408 (Short positions).

Pro’s sold 1221 long index futures and covered 1167 short index futures position. Pro’s Net Index futures position is 10604 (Short positions).

  • Options

FII’s sold 18218 long call options and added 11992 short call options. Net call option positions in the index are 42024.

FII’s bought 2480 long put options and covered 2123 short put options. Net put option positions in the index are 260171.

PRO’s bought 9260 long call options and added 24790 short call options. Net call option positions in the index are -260171.

PRO’s bought 2766 long put options and added 12348 short put options. Net put option positions in the index are -72054.

Put call ratio for the current series is 0.81 PCR below .90 is bearish.

India VIX closed today at 16.66 VIX above 13 is bit cautious.

10500CE is currently having the highest OI’s, so it will act as resistances for the February expiry.

10300PE is currently having the highest OI, so it will act as support for the February expiry.

We saw fresh call writing in 10400CE & 10350CE strikes, more than 33lakh OI added today itself. Good amount of put writing is happening in the 10300PE as well. 10500-10300 will be the OI band for the February month expiry. PRO’s and FII’s together have 416K short positions in the index options and 43K short positions in the index futures.  We can expect a short covering rally coming days.

Nifty Technical Analysis

Nifty closed near the 100 DMA today and also during the last 3 corrections also nifty got support near 100 DMA’s. If nifty breaches the 100 DMA further then the near term support will the 200 DMA and this move will be sharper. If nifty is able to hold on to the 100 DMA we can expect trend reversal coming days.

MACD still gives a sell signal.

RSI and Stochastic indicators show nifty is oversold currently.

Nifty Outlook

As soon as the 10400 level breaks, intraday nifty fell another 100 points as we discussed. As long as nifty is holding to 10030 levels (Previous swing low) the long term trend is still bullish in the charts and chances are if nifty is able to hold on the 100 DMA coming few sessions we can expect trend reversal. For current month there are huge amount of shorts in the markets and up side movements will be used by the major players to add short positions. 100 DMA will be the Lakshmana Rekha for the bulls and bears for coming few days. US markets were giving directions for our markets current month and today the US markets are closed in accordance to the Presidents day celebration. At current levels be stock specific and add share that have corrected enough.

 

 


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