Monday, October 21, 2013

Nifty opening with upside gap

Positive to gap up opening is expected  …if sustains at or above 20  30 points for more than 20 minutes then it will remain in positive territory till mid session and if failed to sustain up then profit booking may be seen which may bring it back to 6150 or below that in intra  day trades . Possibility of some negative news inflow  from Japan is there if it happens then our market will react on it accordingly.

Trade in Nifty Futures as per these levels

Buy at / above: 6221   Targets: 6237 – 6257 – 6277 – 6297
Stoploss : 6201
Sell at / below: 6201   Targets: 6184 – 6165 – 6145 – 6126
Stoploss : 6221


Nifty opening with upside gap

1 comment:

  1. Dears

    Today, as per our analysis, we found

    Put Call Ratio based on Open Interest of Nifty significantly moved up from 1.16 to 1.26 levels. Historical Volatility of Nifty moved up from 26.01 to 27.37 levels but Implied Volatility moved down from 20.14 to 19.42 levels

    Nifty future after a flat to positive opening witnessed strong recovery from lower levels through out the trading session. Nifty future which was facing major hurdle around 6170-6200 zone has breached and closed above this area, now if it holds these levels then next round of rally could not be ruled in coming days. Nifty future for the day, till the time is holding above 6170 levels rally may be continued towards 6250-6280 levels, whereas if it fails to hold 6150 levels then only profit booking dip may be seen towards 6100 levels.

    Looking at the option concentration data, max Put OI is at 5700 followed by 6000 strike price whereas max Call OI is shifted at 6300 followed by 6200 strike prices. Despite market was closing in negative on Wednesday & Thursday, PCR OI was moving up giving a sense that even at lower levels put writers were more aggressive as compared to call writers and strong writing was seen at 5800/5900/6000 put strikes.

    Bank Nifty also recovered well after two day of profit booking and now for the day it has immediate hurdle at 11000 levels whereas support is shifted at 10550 levels.




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