NIFTY UPDATES 27313

NIFTY IS NOW HANGING AROUND A SUPPORT AREA OF 5630 AND SEEMS TO BE TAKING BREATH. THOUGH THE TREND IS DOWN AND BELOW 5630 THE NEXT MAJOR SUPPORT IS AROUND 5545. WITH MAJORITY OF THE INDEX CONSTITUENTS TRADING AROUND THEIR CRUCIAL SUPPORTS AND LOOKING AT  MINOR NEGATIVE DIVERGENCE OF RSI ON WEEKLY CHART NIFTY MAY WITNESS SOME BOUNCE BACK FROM CURRENT LEVELS. HOWEVER FOR NIFTY TO GAIN STRENGTH 5720 MUST BE BREACHED ON CLOSING BASIS. CONSECUTIVE CLOSES ABOVE 5745 WE THINK ARE NECESSARY FOR THE SUSTAINED RALLY.

 

COUPLE OF SESSIONS AFTER THIS EXPIRY WILL HELP TO FORM A CLEAR VIEW.  AT THIS JUNCTURE TRADERS MUST AVOID TRADING AND ENJOY VACATION. :)

 

 

 

NIFTY UPDATES 25313

NIFTY TODAY WITNESSED GAP UP OPENING WHICH DIDNT GIVE ANY SURPRISE AS WE MENTIONED IN OUR EARLIER POSTS THAT OI AT 5700 PE WAS HIGHER THAN 5600 PE. HOWEVER THE EARLIER GAINS ERASED AND NIFTY CLOSED AT 5633.85 DOWN BY 17 POINTS. NIFTY FORMED A STRONG BEARISH CANDLE ON A DAILY CHART AND BULLS WERE FORCED TO COVER SHORTS AT 5700 PE WHICH IS EVIDENT FROM THE LIQUIDATION WITNESSED LATER ON. NIFTY IS TRADING WITH NEGATIVE BIAS AND BREACH OF 5600 MARK ON CLOSING BASIS MAY WORSEN THINGS IN COMING DAYS. WITH MARCH EXPIRY DUE IN JUST COUPLE OF SESSIONS AND CONSIDERING HARDLY 3 SESSIONS IN THIS WEEK WE EXPECT ERRATIC MOVES PARTICULARY IN INDEX MAJORS AND REQUEST TO EXERCISE A VERY CAUTIOUS APPROACH WHILE TRADING IN FUTURES. ONE MUST AVOID CARRYING OVER LEVERAGED POSITION OVERNIGHT AND TRADE WITH STRICT SLs IN PLACE.

 

VIX ROSE MORE THAN 5% AND CLOSED ABOVE 16. SUPPORT FOR NIFTY 5630-5610 AND RESISTANCE NOW PLACED AT 5658-5692-5708.

 

 

 

NIFTY UPDATES - 21313

NIFTY TODAY AS EXPECTED BOUNCED BACK BUT AGAIN FAILED TO SUSTAIN AT HIGHER LEVELS AND BROKE ITS PREVIOUS LOW OF 5663 AND CLOSED AT 5658.75. 5630 ZONE IS THE STRONG SUPPORT AREA FOR NIFTY AND CONSECUTIVE CLOSES BELOW THE SAID MARK MAY LEAD FURTHER SELL OFF. TOMORROW BEING WEEKLY CLOSE MARKETS ARE EXPECTED TO WITNESS HIGH VOLATILITY. STILL 5700 PE IS HAVING HIGHEST OI OF 86 LAKHS WITH ADDITION OF 2.38 LAKHS. THE DATA IS REALLY SURPRISING AS 5600 PE IS HAVING OI OF 76.39 LAKHS WHICH IS LOWER THAN THE OI OF 5700 PE DESPITE NIFTY CLOSED FAR BELOW 5700 MARK. VIX CLOSED IN RED BUT STILL ABOVE 16.  SO THERE IS NO CLEAR CLUE AS TECHNICALLY NIFTY LOOKS WEAK BUT OPTION CHAIN GIVES CONTRADICTORY PICTURE.STILL WE GUESS IF 5630 IS NOT BROKEN NIFTY CAN KISS 5700. FRESH SHORTING MUST BE DONE WITH EXTRA CAUTION.

 

 

NIFTY UPDATES 20313

AGAIN TODAY NIFTY CRASHED AND GAVE CLOSE AT 5694.4. STILL NIFTY HAS NOT BROKEN THE RECENT LOW OF 5663. WE CAN ALSO SEE THE NEGATIVE DIVERGENCE OF RSI TODAY. SO WE BELIEVE IF 5663 IS NOT BROKEN AND NIFTY HOLDS THE SAID LEVEL FOR 2 TO 3 DAYS ON CLOSING BASIS WE MAY WITNESS TECHNICAL BOUNCE BACK FROM HERE.

 

 

 

STILL WE HAVE HIGHEST OI AT 5700 PE OF 88 LK WITH ADDITION OF 3.3 LK.5800 PE IS HAVING OI OF 46.76 LK WITH LIQUIDATION OF 20 LK AND OI AT 5900 PE IS 29 LK WITH LIQUIDATION OF 4.85 LK. 5400, 5500 AND 5600 PE IS HAVING OI OF 5LK, 59.7 LK AND 72.2 LK WITH ADDITION OF 2LK, 1.75 LK AND 7 LK RESPECTIVELY.

 

ON THE OTHER SIDE 6000 CE IS HAVING HIGHEST OI OF 1 CR WITH ADDITION OF 2.3 LK. OI AT 5900 CE AND 5800 CE IS 83.7 LK AND 74.4 LK RESPECTIVELY. 5700 CE ADDED 20 LK IN OI AND 5800 CE ADDED 13 LK.

 

VIX WAS DOWN BY 0.3% AND STILL CLOSED ABOVE 16.

 

SO THERE WILL BE TOUGH FIGHT BETWEEN BEARS AND BULLS FOR THE 5700 LEVEL AND OPTION CHAIN ALSO GIVES HINT THAT NIFTY MAY CONSOLIDATE NOW.

 

SUPPORT 5663-5630

 

RESISTANCE 5723-5745...

NIFTY UPDATES 19313

 

 

 

TODAY WE WITNESSED SELLING ACROSS THE BOARD AND NIFTY CRASHED VERTICALLY. FROM THE LAST TWO POSTS WE ARE SHOUTING THAT NIFTY IS TRADING WITH NEGATIVE BIAS AND AS EXPECTED FINAL SHAPE GIVEN TODAY.

 

 

 

NOW WHAT TO EXPECT???

 

 

NIFTY TODAY FORMED A STRONG BEARISH CANDLE ON A DAILY CHART AND GAVE CLOSE AT 5745. THE SENTIMENT HAS NOW BEEN SPOILED AND ONE MUST EXERCISE EXTRA CAUTION WHILE TRADING AND SELECTING THE RIGHT STOCK.

 

 

SUPPORT AT 5723-5660 AND 5630 THE ULTIMATE SUPPORT

 

RESISTANCE AT 5792-5814

 

 

 

NIFTY UPDATES 18313

IN PREVIOUS POST WE UPDATED THAT NIFTY IS GOING TO TRADE WITH NEGATIVE BIAS AND AS EXPECTED IT OPENED GAP DOWN TODAY AND FAILED TO FILL THE GAP. AGAIN 5815 ACTED AT STRONG SUPPORT.. :)

 

 

 

NOW OPTION CHAIN SUGGEST STILL 5700 IS HAVING HIGHEST OI OF 1 CR WITH LIQUIDATION OF 88 THOUSAND. OI AT 5800 PE IS 88 LAKHS. 5900 PE WITNESSED THE LIQUIDATION OF 5.9 LAKHS AND TOTAL OI STANDS AT 48.7 LAKHS. 6000 PE IS HAVING OI OF 24 LAKHS WITH LIQUIDATION OF 4.57 LAKHS.

 

ON THE OTHER SIDE WE HAVE HIGHEST OI BUILT UP AT 6000 CE OF 85.88 LAKHS WITH ADDITION OF 9 LAKHS IN OI. OI AT 6100 CE AND 6200 CE IS 66.17 LAKHS AND 43.8 LAKHS RESPECTIVELY. OI AT 5900 CE IS 63 LAKHS WITH ADDITION OF 4 LAKHS AND OI AT 5800 CE IS 37.17 LAKHS.

 

SO STILL 5700 SEEMS TO BE  A WALL  OF SUPPORT ON DOWNSIDE WHEREAS 6000 IS THE STIFF RESISTANCE.

 

NIFTY VIEW IS NEGATIVE AND BELOW 5815 WE SUGGEST NOT TO REMAIN LONG.

 

SUPPORT 5815-5792-5730

 

RESISTANCE 5872-5885-5914 -5953

 

NIFTY UPDATES 17313

AFTER A SHARP RALLY LAST WEEK NIFTY AGAIN FAILED TO SUSTAIN AT HIGHER LEVELS AND GAVE A WEAK CLOSE AT 5872.6

 

 

 

ALTHOUGH 5700 IS STILL A WALL SUPPORT FOR NIFTY AS STILL IT HAS OI OF 1 CR. 5800 PE IS HAVING OI OF 87 LAKHS WITH LIQUIDATATION OF 6.55 LACS AND 5900 PE IS HAVING OI OF 56 LAKHS WITH LIQUIDATION OF 2.8 LAKHS. ON THE OTHER HAND 6000 CE IS HAVING HIGHEST OI OF 78 LAKHS WITH ADDITION OF 5.35 LAKHS. OI AT 6100 CE AND 6200 CE IS 67.6 LAKHS AND 44.7 LAKHS RESPECTIVELY. 5900 CE IS HAVING OI OF 60 LAKHS WITH ADDITION OF 3.45 LAKHS. VIX ROSE 3.4% AND CLOSED AT 15.16.

 

NIFTY BIAS SEEMS TO BE NEGATIVE NOW

 

SUPPORT 5842-5815-5792

 

RESISTANCE 5883-5948-5982