NIFTY UPDATES 29413

NIFTY TODAY MANAGED TO GIVE CLOSE ABOVE 5900 MARK. FOR THE LAST 3 SESSIONS NIFTY IS TRADING IN A RANGE OF 5850-5925. NOW 5900 PE IS HAVING OI OF 38.7 LAC AND 5900 CE IS HAVING OI OF 35.2 LAC. 5800 PE IS HAVING OI OF MORE THAN 50 LAC WHEREAS OI AT 6000 CE IS 41.78 LAC. VIX ROSE MORE THAN 3% AND FINALLY MANAGED TO CLOSE AT 14.33. SO NOT MUCH CAN BE DERIVED FROM THE OPTIONS CHAIN AS OF NOW. HOWEVER A TOUGH FIGHT IS EXPECTED BETWEEN BEARS AND BULLS FOR 5900 MARK. HOWEVER WE EXPECT THE BROADER MARKETS TO BE VOLATILE WITH HIGHLY STOCK SPECIFIC MOVES DUE TO RESULTS SEASON. THE BIAS IS STILL BULLISH. 

SUPPORT 5860-5830

RESISTANCE 5930-5973

Nifty Updates 25413

Nifty today gave a very firm close above 5900 mark. Now total OI at 5900 PE is 29.2 lac with addition of 21.76 lac today only. 5800 PE too added  25.5 lac in OI. Total OI at 5900 CE is 41.88 lac. VIX too fell very sharply today and closed at 14.2. So there is no hint for the trend reversal and markets are expected to hold their positive bias. 

NIFTY HURDLE  5970-5992

STRONG SUPPORT AT 5880-5860

NIFTY UPDATES 24413

NIFTY HAS FORMED HANGING MAN CANDLESTICK PATTERN ON A DAILY CHART. HOWEVER VIX FELL VERY SHARPLY AND CLOSED BELOW 16 MARK AND PCR HAS INCREASED. 5900 CE IS HAVING HIGHEST OI OF 80.45 LAC. 5800 CE WITNESSED LIQUIDATION OF 8.82 LAC AND TOTAL OI AT 5800 PE IS 61.65 LAC WITH ADDITION OF 5.10 LAC. OI AT 5900 PE IS 15.37 LAC. SO AS PER THE OPTION CHAIN IMMEDIATE RANGE OF NIFTY SEEMS TO BE 5800-5900. HOWEVER IN VIEW OF THE SHARP FELL IN VIX AND SUDDEN SPURT IN PCR INDICATES EXTREME BULLISHNESS. THERE IS A PROBABILITY THAT NIFTY MIGHT CLOSE ABOVE 5900. 

NIFTY UPDATES: 22413

FROM THE LAST TWO POSTS WE ASKED NOT TO SHORT NIFTY AND IT MOVED AS PER THE EXPECTATIONS. NIFTY TODAY MANAGED TO CLOSE ABOVE ITS DOWNTREND RESISTANCE LINE. HUGE OI BUILT UP TODAY AT 5800 PE OF ALMOST 25 LAC SUGGESTING BULLS ARE TRYING VERY HARD TO RAISE THE SUPPORT LEVELS. STILL 5600 PE IS HAVING OI OF MORE THAN 100 LAC WITH LIQUIDATION OF 6.13 LAC SUGGESTING PROFIT BOOKING AT HIGHER LEVELS. 5900 CE ADDED 10.28 LAC IN OI TAKING TOTAL OI AT 81.57 LAC AT 5900 CE .VIX ROSE 5.6% AND CLOSED AT 16.22. SO NIFTY SEEMS TO BE IN A UPTREND, HOWEVER THIS BEING THE EXPIRY WEEK MARKETS MAY WITNESS HUGE VOLATILITY . WE SUGGEST TO KEEP BOOKING PROFITS AT HIGHER LEVELS BY TRAILING SL. STILL NO SHORT IS ADVISABLE IN THE MARKETS.

RESISTANCE AT 5873

SUPPORT 5815

NIFTY UPDATES 18413

YESTERDAY WE UPDATED THAT TREND SEEMS TO BE BUY ON DECLINE AND ASKED NOT TO SHORT NIFTY. MANY WOULD HAVE BEEN SURPRISED AS THE FOREIGN MARKETS HAD TUMBLED BUT NIFTY MOVED AS PER THE EXPECTATION AND FINALLY GAVE A VERY FIRM CLOSE ABOVE 5700 MARK. NOW 5700 PE IS HAVING OI OF 74 LAC WITH ADDITION OF 12.6 WHEREAS HUGE LIQUIDATION WITNESSED AT 5700 CE OF 39 LAC REDUCING THE TOTAL OI AT 5700 CE TO 44.54 LAC. STILL 5600 PE IS HAVING HIGHEST OI OF 110 LAC WITH ADDITION OF 8.64 LAC. 5800 PE ADDED 26.57 LAC IN OI TAKING THE TOTAL OI AT 5800 PE TO 37.37 LAC. VIX FELL SHARPLY BY 6.6% AND CLOSED BELOW 16 MARK AT 15.36.

SO IN THE LIGHT OF ABOVE NIFTY IS EXPECTED TO MOVE HIGHER AND 5600 MARK AS NOW EMERGED AS VERY STRONG SUPPORT FOR NIFTY. NO SHORT IS ADVISABLE IN THE MARKET. 

SUPPORT 5736-5688

RESISTANCE 5795-5830

NIFTY UPDATES 16413

AS EXPECTED NIFTY FILLED THE GAP AT 5644, ALMOST KISSED 5700 MARK AND FINALLY MANAGED TO CLOSE AT 5689. HUGE OI BUILT AT 5600 AND 5700 PE OF 30 LAC AND 25 LAC RESPECTIVELY TAKING THE TOTAL OI AT 5600 PE TO 89.5 LAC AND AT 5700 PE TO 48.5 LAC. 5500 PE IS HAVING HIGHEST OI OF 89.8 LAC. ON THE OTHER SIDE 5700 CE IS STILL HAVING HIGHEST OI OF 84.2 LAC. HUGE LIQUIDATION WAS WITNESSED AT 5500 CE OF 15.6 LAC. TOTAL OI AT 5800 CE AND 5900 CE IS 71.7 LAC AND 72.2 LAC. VIX WAS DOWN BY 2.2% BUT STILL ABOVE 16. 

SO NOW NIFTY SEEMS TO BE MODERATELY BULLISH AS WE EXPECTED 5682 AS MAJOR RESISTANCE BUT IT HAS NOW BEEN BREACHED ON CLOSING BASIS. OPTION CHAIN CLEARLY INDICATES THAT BULLS HAVE NOW FIRM GRIP ON 5500 AND 5600 MARK. 

SUPPORT 5644-5615

RESISTANCE 5745-5780

NIFTY UPDATES 15413

NIFTY OPENED GAP DOWN BUT RECOVERED QUICKLY FROM 5500 MARK AND MADE HIGH OF 5593 AND FINALLY MANAGED TO CLOSE NEAR 5570. NIFTY IS FINDING SUPPORT NEAR 5500 BUT IT IS NOT ABLE TO SUSTAIN AT HIGHER LEVELS. NOW WE HAVE HIGHEST OI AT 5500 PE OF 84 LAC WITH ADDITION OF 18 LAC IN OI. 5400 PE IS HAVING OI OF 77 LAC WITH ADDITION OF 11.5 LAC. OI AT 5600 PE AND 5600 CE IS 60 LAC AND 65 LAC RESPECTIVELY. LIQUIDATION WITNESSED AT 5600 CE AND OI WAS BUILT AT 5600 PE. OI AT 5700 CE AND 5800 CE IS 86 LAC AND 78 LAC RESPECTIVELY. VIX STILL IS STILL ABOVE 16 AND CLOSED 1% UP TODAY. SO 5500 IS NOW EMERGING AS STRONG SUPPORT FOR NIFTY WHEREAS 5700 REMAINS THE KEY RESISTANCE ZONE. ALMOST EQUAL OI 5600 STRIKE SUGGEST THAT THERE WILL BE VERY TOUGH FIGHT FOR 5600 MARK BETWEEN BULLS AND BEARS. THE OPTION CHAIN SUGGEST THAT THE IMMEDIATE RANGE OF NIFTY IS 5500-5700. STILL WE HAVE AN UNFILLED GAP AT 5644. 

MARKETS EXPECTED TO BE HIGHLY STOCK SPECIFIC.

NIFTY UPDATES 13413

NIFTY CLOSED AROUND VERY CRUCIAL SUPPORT ZONE OF 5525 AND FORMED A DOJI ON A WEEKLY CHART. NOW WE HAVE HIGHEST OI AT 5400 AND 5500 PE OF 65.6 LAC AND 66 LAC RESPECTIVELY.OI AT 5600 PE IS 54 LAC WITH LIQUIDATION OF 8.72 LAC. ON THE OTHER SIDE WE HAVE HIGHEST OI AT 5700 CE OF 80.31 LAC WITH THE ADDITION OF 5.86 LAC. 5600 CE IS HAVING OI OF 70 LAC WITH HUGE ADDITION OF 12 LAC IN OI. VIX CLOSED AT 16.45 DOWN BY 3%. SO THE IMMEDIATE RANGE OF NIFTY SEEMS TO BE 5400-5600. PROFIT BOOKING ACROSS THE PUT WITH VIX FALLING AND NIFTY FORMING DOJI ON A WEEKLY CHART THERE IS A HOPE FOR TECHNICAL BOUNCE UP TO 5600.

SUPPORT 5480-5450

RESISTANCE 5477-5615

NIFTY UPDATES 11413

AROUND 5495 WE UPDATED THAT NIFTY BOUNCE BACK EXPECTED AND TODAY IT CLOSED AT 5594.. ALMOST 100 POINTS UP.... :)... NIFTY TODAY HAS GIVEN A MODERATELY STRONG CLOSE. WE WITNESSED LIQUIDATIONS 5700 CE AND 5800 CE  OF 8 LAC AND 10 LAC RESPECTIVELY. HUGE OI BUILT UP TODAY AT 5400 AND 5500 PE OF 21 LAC AND 20 LAC RESPECTIVELY. TOTAL OI AT 5600 PE IS 64 LAC WITH ADDITION OF 5 LAC WHEREAS TOTAL OI AT 5600 CE IS 58.66 LAC WITH LIQUIDATION OF 1.42 LAC. VIX ROSE ALMOST 3% AND FINALLY CLOSED AT ALMOST 17 MARK. SO BULLS ARE TRYING TO RAISE THEIR BASE HOWEVER STILL THERE REMAINS A VERY TOUGH FIGHT FOR 5600 MARK. NIFTY IS NOW ENTERING A VERY STIFF RESISTANCE ZONES ABOVE 5600 WE MAY WITNESS HIGHER VOLATILITY IN THE INDEX. THE MAXIMUM UPSIDE FOR NIFTY SEEMS TO BE 5682. 

SUPPORT 5537-5487

RESISTANCE 5610-5644-5682

NIFTY UPDATES 10413

AS EXPECTED NIFTY BOUNCED BACK TODAY. IT TOOK SUPPORT AROUND 5480 ZONE AND FOUND RESISTANCE AT 5577. TODAY 5400 PE ADDED ALMOST 17 LAC IN OI. 5500 PE TOO ADDED 8.87 LAC IN OI TAKING THE TOTAL OI AT 64 LAC. 5600 PE WITNESSED THE LIQUIDATION OF 1 LAC AND 5700 PE WITNESSED LIQUIDATION OF 2.89 LAC. TOTAL OI AT 5600 PE AND 5600 CE IS 57.75 LAC AND 60 LAC RESPECTIVELY. TOTAL OI AT 5700 CE IS 85.55 LAC. SO 5700 REMAINS THE KEY RESISTANCE FOR THE NIFTY. BULLS TODAY TRIED TO FIRM THEIR GRIP ON 5500 MARK AND NOW WE MAY WITNESS TOUGH FIGHT FOR 5600 MARK. VIX CLOSED DOWN BY 2% AT 16.49. POOR OI AT 5700 PE AND 5800 PE SUGGEST THAT NIFTY MIGHT MOVE UP FURTHER AND THE GAP AROUND 5644 MIGHT GET FILLED IN THIS WEEK ONLY.

SUPPORT 5537-5495

RESISTANCE 5580-5615

NIFTY UPDATES 9413

NIFTY TODAY BREACHED CRUCIAL SUPPORT AROUND 5535 AND CLOSED BELOW 5500 MARK. INTERESTINGLY  5600 PE IS STILL HAVING HIGHER OI THAN 5500 PE AND WHAT IS REALLY SURPRISING IS THAT 5600 PE ADDED 3.67 LAC IN OI. 5500 CE ADDED 15 LAC IN OI TAKING THE TOTAL OI AT 33 LAC. 5700 CE IS HAVING HIGHEST OI BUILT OF 85 LAC.  VIX TOO KISSED 17 MARK A CRUCIAL RESISTANCE. SO WE THINK TODAY'S DOWN FALL MAY BE ATTRIBUTED MORE TO A PANIC THAT THE MARKETS CREATED TODAY. THE OPTION TABLE GIVES A SENSE THAT THE TRADERS ARE STILL BETTING THAT THE GAP AROUND 5644 MIGHT GET FILLED IN VERY NEAR FUTURE. WE EXPECT A BOUNCE BACK FROM HERE.

SUPPORT 5480-5444

RESISTANCE 5537-5570

NIFTY UPDATES 8413

NIFTY IS NOW FINDING SUPPORT AROUND 5535. HOWEVER IT IS NOT ABLE TO SUSTAIN AT HIGHER LEVELS. NOW 5500 PE HAS HIGHEST OI BUILT UP AT 58.5 LACS WITH ADDITION OF 4.8 LACS. LIQUIDATION IN PE WAS WITNESSED ACROSS THE STRIKE PRICE OF 5600 TO 6200 PE. 5600 PE IS HAVING OI OF 57 LACS AND 5600 CE IS HAVING OI OF 56 LACS. HIGHEST OI IS BUILT UP AT 5700 AND 5800 CE OF 87 LACS AND 85 LACS RESPECTIVELY. SO OPTION CHAIN SUGGEST BEARS HAVE STARTED BOOKING PROFITS AND THERE WILL BE TOUGH FIGHT FOR THE 5600 MARK. NIFTY STILL SEEMS TO BE DIRECTION LESS AND WE RETREAT THAT MARKETS ARE NOW GOING TO BE HIGHLY STOCK SPECIFIC.

NIFTY UPDATES 6413

NIFTY HAS BREACHED A VERY CRUCIAL WEEKLY SUPPORT AT 5637 ON A CLOSING BASIS. WE HAVE A GAP AT 5640 NOW ON A DAILY CHART SO THE 5640 IS NOW GOING TO ACT AS A STIFF RESISTANCE IN COMING DAYS. ON THE DOWN SIDE 5527 IS THE MAJOR SUPPORT WHICH IF BROKEN ON A CLOSING BASIS THEN WE THINK NIFTY CAN TEST 5450. NEEDLESS TO MENTION NIFTY IS NOW IN DOWNTREND AND ANY RALLY CAN NOW BE EXPECTED IF 5640 IS BROKEN ON A WEEKLY BASIS. AGAIN WE RETREAT THAT THE MARKETS WILL PAY HIGHER IF ONE SELECTS THE RIGHT STOCK. OUR REQUEST TO FORGET THE BROADER MARKETS AND FOCUS ON INDIVIDUAL STOCKS.

NIFTY UPDATES 4413

NIFTY TODAY BREACHED AND CLOSED BELOW AN IMPORTANT PSYCHOLOGICAL MARK OF 5600. IT OPENED GAP DOWN AND TRADED WITH NEGATIVE BIAS THROUGH OUT THE DAY. NIFTY DARLING IS DANCING TO THE TUNE OF EVERY SHORT TERM CUES MAKING IT VERY DIFFICULT FOR THE TRADERS TO FORM A CLEAR VIEW. HOWEVER STILL 5600 PE IS HAVING HIGHEST OI OF 70 LACS WHICH IS REALLY SURPRISING. THOUGH THE LIQUIDATION OF 13 LACS IN 5600 PE SUGGEST THAT BULLS WERE FORCED TO COVER SHORTS IN 5600 PE.  5700 CE IS HAVING HIGHET OI OF 70 LACS WITH ADDITION OF 21 LACS IN OI SO 5700 NOW IS GOING TO ACT AS IMMEDIATE RESISTANCE ON UPPER SIDE. NOW THE GAP AROUND 5520 SEEMS TO BE THE MAJOR SUPPORT IN COMING DAYS. THOUGH WE STILL BELIEVE THAT A RIGHT STOCK SELECTION WILL BE THE KEY TO SUCCED IN SUCH UNCERTAIN ENVIRONMENT.

SUPPORT 5565-5520

RESISTANCE 5610-5640

NIFTY UPDATES 3413

YESTERDAY NIFTY GAVE A POWERFUL CLOSE ABOVE 5745 BUT TODAY IT FAILED TO CAPITALISE ON THE SAME AND WE WITNESSED ALL ROUND SELLING IN MARKETS DURING CLOSING SESSION. NIFTY FOUND SUPPORT AROUND 5650 AND FINALLY CLOSED AT 5672. STILL WE HAVE HIGHEST OI BUILT UP AT 5600 PE SO 5600 MARK IS NOW IMMEDIATE VERY CRUCIAL AND STRONG SUPPORT FOR NIFTY. MARKETS SEEM TO BE DIRECTIONLESS AND WE REQUEST TRADERS TO TRADE IN SMALL QUANTITIES AND TO EXERCISE VERY STOCK SPECIFIC APPROACH WHILE TRADING.

SUPPORT 5650-5630

RESISTANCE 5687-5720

NIFTY UPDATES 2413

NIFTY TODAY CROSSED ITS IMMEDIATE RESISTANCE AROUND 5720 VERY EASILY AND GAVE A FIRM CLOSE ABOVE ITS NEXT RESISTANCE PLACED AROUND 5745. WE BELIEVE CONSECUTIVE CLOSES ABOVE 5720 NOW CAN LEAD THE NIFTY TO KISS 5815 IN NEAR TERM. SUPPORTS ARE 5730-5720...... RESISTANCE 5792-5815.....

NIFTY UPDATES 1413

NIFTY HAVING TESTED IMPORTANT SUPPORT AREA AROUND 5600 TODAY REGAINED 5700 MARK ON A CLOSING BASIS. ON A DAILY CHART NIFTY FORMED A DOJI, HOWEVER HIGHEST OI AT 5600 PE SUGGEST THAT 5600 MARK IS GOING TO ACT AS STRONG IMMEDIATE SUPPORT. 5700 PE IS HAVING OI OF 52.46 LACS WHEREAS OI AT 5700 AND 5800 CE IS AROUND 40 LACS EACH. 5600 PE ADDED 11.68 LACS IN OI WHEREAS 5800 AND 5900 CE ADDED APPORX 11 LACS IN OI EACH. SO IMMEDIATE REANGE OF NIFTY SEEMS TO BE 5600-5800.

 WE BELIVE Q4 RESULTS WILL PROVIDE NEXT TRIGGER TO THE MARKETS. Q4 RESULTS HAVE ALWAYS BEEN CRUCIAL AS COMPANIES NOT ONLY ANNOUNCE THEIR ANNUAL RESULTS BUT ALSO PROVIDE GUIDANCE FOR THE NEXT FISCAL. Q3 RESULTS WERE QUITE BELOW EXPECTATIONS AND WE DONT EXPECT MUCH FROM Q4 RESULTS TOO. THE MAIN REASONS FOR OUR LOW EXPECTATIONS FROM THE Q4 RESULTS ARE POOR IIP NUMBERS FOR THE FIRST TWO MONTHS OF 2013 AND REVISED DOWNWARDS FIGURES OF GDP. THE OTHER FACTOR SUPPORTING  OUR LOW EXPECTATION IS HIGHER INFLATION NUMBERS ON A CONSISTENT BASIS.

IN A NUTSHELL WE EXPECT THE MARKETS TO BE HIGHLY STOCK SPECIFIC NOW IN NEAR FUTURE AND ADVISE THE TRADERS TO BE VERY CAUTIOUS WHILE SELECTING A COUNTER.