Nifty opened weak yesterday on negative asian cues and tumbled @ after noon session and recovred slightly with volumes @ close hour.chinese markets tumbled yesterday due to government policy over a possible tightening of bank lending policies which triggered sell-off around global markets.FII's again net sellers .FII money in outflow due to Dollar strength. If this gonna happen from here on Fundamentally we will reach 3600 soon. Reliance is leading the fall again.
INSTITUTIONAL ACTIVITY :: FII (-226 cr) ::: DII (+460 cr)
- Nifty ended in huge discount of 15.30 vs 4.95 discount so cost of carry decreased.
- Nifty Put Call Ratio Open Interest @ 0.93 vs 1.01
- 4300 PE and 4700 Ce added more Open Interest
- India Vix closed @ 46.49 vs 44.24 with 5.09% change suggest market Instability
- FII's Net buyers in Index Options
- Biggest IPO gonna list today in china markets about 7.3 trillion dollar IPO
- US and Europe markets closed deep negative
Nifty witnessed huge sell off yesterday. Nifty TRIN finally shoots above 1 which is strong bearish sign.Again Nifty closed below 20 MA and 50 MA with 4475 Resistance which can target 100 MA this time which pegged @ 4050.ADX is on sell side. MACD above zero. Can try OTM put Option in nifty. Today I am expecting a Flat day with pull back 4435. Overall Market sentiment turned bearish. I will play only OTM in nifty options positionally.
Levels ::
Nifty Fut Supp @ 4292 :: Res @ 4452
4332 - 4360 - 4389 - 4404
Bearish > 4407 < Bullish
Happy Trading !!!!!!!!
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