Nifty as expected not giving up its momentum. Nifty opened strong a gap up of 70 points yesterday on strong Asian cues. And took support @ 4450 which never breached. Auto,IT and metals was top performers. Bharti produced a stunning Q1 results beating street expectation.ONGC Q1 profits drops 27% on lower sales.US housing prices gained.Initial Jobless data still not good.US markets touched yearly high with very high volume.FII's where net buyers and DII's where net sellers.Again saying my old word FII can make up beyond DII's all time.
INSTITUTIONAL ACTIVITY :: FII (+512 cr) ::: DII (-34 cr)
- Nifty future ended 11.30 premium vs 6.25 premium cost of carry increased.
- Nifty put call Open Interest @ 1.29
- Nifty 4300 PE and 4700 CE added more Open Interest
- India Vix closed @ 34.05 vs 37.14 decreased by -8.32% suggest stability coming in market
- US market end by 2% up
- FII's where net sellers in futures and stock options.
When all for sell @ rise only we mentioned here to buy @ dips which still proved we are accurate. So Today we can expect gap up of strong Asian cues. I will book my positional longs once our falling wedge targets achieved and will wait for next round of trade. So a diamond pattern spotted in Nifty 30 min charts where its an reversal signal if its high or low taken. Another Fibo chart showed how it took support @ 50% retrace.Dont hold long below 4528. So Book longs @ today's run. We can expect sell off in DOW today or coming days.
Levels ::
Nifty Fut supp @ 4484 :: Res @ 4585
Bearish > 4478 < Bullish
Happy trading !!!!
No comments:
Post a Comment