Nifty Opened positive yesterday and closed flat for second consecutive day.RBI left the key rates unchanged but raised inflation forecast to 5% for the Fiscal Year 2010.As expiry ahead market will remain range bound.Realty surged yesterday when subsidy announced to home loans by finance minister. All Global markets in verge of correction, will India follow that or we have our own way with this result season ? we know after Expiry. As expiry ahead Avoid Market Positions or have tight Stop losses for all your trades.
INSTITUTIONAL ACTIVITY :: FII (-59 cr) ::: DII (+448 cr)
- Nifty future ended 1.75 premium vs 4.50 premium cost of carry decreased
- Nifty put call Open Interest @ 1.31
- Nifty 4300 PE and 4700 CE added more Open Interest writing happening in 4300PE suggest we will expire above that.
- India Vix closed @ 36.07 vs 37.39 decreased by -3.53% suggest stability in market.
- US/Europe Market closed negative.
- FII's where net buyers in stock futures.
Our falling wedge target of 4600 finally achieved and its getting struggle to cross that range. 4620 is strong resistance which we witnessed before. Technically no change Nifty getting resisted @ upper trend line. Lets nifty get expire we can jump into some position.until that try Intraday trading with tighter Stops.
Levels ::
Nifty Fut Supp @ 4525 :: Res @ 4607
Bearish > 4582 < Bullish
4545 - 4560 - 4575 - 4596
Happy Trading..
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