NIFTY FUT OI (both series) marginal down with increasing volumes indicating unwinding of long positions in current series plus forming of short positions in next series.
We expectNIFTY FUT to trade volatile due to expiry.
On Wednesday,Opening is Flat to Down,
Stay Short Below 3370,Sl Abv 3390,Tgt 3340/3320/3275/3260,
Sustain Above 3390,Buy with Sl Below 3370,Tgt 3435/3455/3495/3515.
SENSEX (11329.05) : Sustained Above 11350/450 Levels,Huge Resistances At 12200/12500,If 12200/500 Not Sustained We May Have A Fall Upto 11000/10700 Levels.
Resistance : 11385 / 11440 / 11485 / 11550
Support : 11295 / 11255 / 11200 / 11145 / 10960
NIFTY FUT (3482.05) : Expect Market To Make Resistance At 3560 Levels,Where Selling Pressure May /be Seen (Only Intrday Basis)
Resistance : 3520 / 3535 / 3560 / 3620 / 3650
Support : 3465 / 3425 / 3390 / 3350
BANK NIFTY (5127.5)
Resistance : 5210 / 5290
Support : 5075 / 4990 / 4860
MKT COMMENTS
NIFTY FUT OI (both series) marginal down with decreasing volumes indicating short covering plus forming of long positions for BTST.
We expect NIFTY FUT to trade positive.Weekly Charts are Strong for more Upmove,After Expiry may see Breakout Above 3745/3780 Levels.
On Monday,Opening is Flat to Up,
Stay Long Above 3490,Sl Below 3470,Tgt 3505/3525/3545/3570/3595,
Sustain Below 3460,Sell with Sl Above 3480,Tgt 3425/3390/3370/3345.
Total OI of NIFTY FUT down 3.23%, NIFTY FUT up 2.98% last week. OI of NIFTY 3400 CE is up 6.90% prices up 15.38% last week showing short covering plus buying. OI of NIFTY 3500 CE is up 45.26% prices down 15.85%, NIFTY 3600 CE is up 20.58% prices down 49.83% and 3700 CE is up 9.11% prices down 72.45% last week showing buying at lower levels.
OI of NIFTY 3300 PE is up 36.60% prices down 86.08%, NIFTY 3400 PE is up 58.87% prices down 77.69% and NIFTY 3500 PE is up 81.76% prices down 64.09% showing aggressive put writing.
We expect NIFTY SPOT to show up move next week. The rally looks to continue with the support from other markets around the globe.
NIFTY SPOT resistance at 3510-20, 3555-65 levels, strong resistance at 3615.20 levels. On downside, NIFTY SPOT support at 3430-20, strong support at 3365-55 levels.
SOME STOCK FUTS
Trend : Bullish
Total OI of DABUR FUT up 186% prices up 9.22%, LICHSGFIN FUT up 107% prices up 21.54%, RIIL FUT up 95.84% prices up 8.45%, IDBI FUT up 68.99% prices up 9.01%, ADLABSFILM FUT up 46.36% prices up 8.60% last week showing long positions build up in these STOCK FUTS.
TELECOM Sector looks to be Hot among Traders. OIL & GAS is also another sector to look out for. We Expect MID & SMALL Caps Also To Outperform This Week Due To Expiry.
We expect any profit booking should be followed by up move next week.
WEEKLY NIFTY FUTURE OBSERVATION
Observation:- 1) Total OI of NIFTY FUT down 3.23%, NIFTY FUT closed up 2.98% last week.
2) Out of NIFTY 50 Stock FUTS, 32 Stock FUTS closed positive, 9 Stock FUTs closed negative and 9 Stock FUTS closed flat last week.
3) OI of NIFTY 3400 CE is up 6.90% prices up 15.38% last week showing short covering plus buying. OI of NIFTY 3500 CE is 45.26% prices down 15.85%, NIFTY 3600 CE is up 20.58% prices down 49.83% last week showing buying at lower levels. OI of NIFTY 3500 CE is 55.42 LK, highest OI in CALLs.
4) OI of NIFTY 3300 PE is up by 36.60% prices down 86.08%, NIFTY 3400 PE is up by 58.87% prices down 77.69% and NIFTY 3500 PE is up 81.76% prices down 64.09% last week showing aggressive put writing. OI of NIFTY 3300 PE is 70.94 LK, highest OI in PUTs.
5) Total OI of APR series CALLs is up by 14.72 LK to 2.85 CR. APR series PUTs is up by 23.06 LK to 5.37 CR last week. APR series PCR (OI) at 1.88.
Conclusion :-
I expect NIFTY SPOT to show up move next week with possibility of profit booking at higher levels. In this week we shall hit the target of double bottoms at 3700 which were spotted at 2900.
The Current Wave (Major) which started at 2500 looks to top out at 3900. Good to book out Partial Profits in Stocks. Investments for a Horizon of more than 3-4 months are not advised.
NIFTY SPOT resistance at 3510-20, 3555-65 levels. Above 3565 level, next target will be 3615-20 levels. Profit expected above 3620 levels.
On down side, NIFTY SPOT support at 3430-20 levels, below 3420 levels, strong support at 3365-55 levels.
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It was a highly volatile day for the Indian equity markets. Both the leading Indices opened in green on account of strong recovery made by the US markets and good opening of Asian markets. But it could not sustain the gains and crumbled in the afternoon session. While Sensex closed at 10817.54 (Up 80.57 points) Nifty closed at 3330.30 (Down 35 points). If we take a look at market movement, it indicates that, rate sensitive sectors like realty and consumer durables had a good run in last few trading sessions. Today these sectors witnessed a good amount of profit booking and declined almost 4 per cent. Markets breadth was negative with 1064 advances and 1443 declines. One important factor in today’s decline is, it has happened with higher volumes, which is a weak sign for the markets.
NIFTY (3330.30)
Resistance : 3365 / 3390 / 3410 / 3450
Support : 3300 / 3285 / 3250 / 3225 / 3160
SENSEX (10818)
Resistance : 10950 / 11000 / 11090
Support : 10675 / 10600 / 10535 / 10450
NIFTY FUTURE (3323)
Resistance : 3385 / 3445
Support : 3275 / 3240 / 3225
MKT COMMENTS
NIFTY FUT OI down 8.56% with 5% decreasing volumes indicating unwinding of long positions.
We expect NIFTY FUT to trade volatile. Selling will emerge on every rise.
On Thursday,Opening is Flat to Down,
Stay Short Below 3360,Sl Above 3380,Tgt 3310-3255,
Sustain Above 3380,Buy with Sl Below 3360,Tgt 3415-3470.
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