Nifty opened gap up on strong global cues and broke 52 week high. Sensex crossed 16000 mark which is 15 month high.Now traders and investors still fears to enter market here which is found by yesterday's dry volume.Nifty closed with striking 102 points @ 4783. FII's finally into huge buy.Monsoon news and G20 summit gave some hope for markets and economy.
INSTITUTIONAL ACTIVITY :: FII ( +1061cr) ::: DII (+150 cr)
- Nifty ended @ 12.90 point premium vs 15.25 point premium cost of carry increased.
- India Vix closed @32.21 vs 32.51 with -0.92 % suggest market getting stable.
- 4600 PE and 5000 Ce added more open interest.
- Nifty Put Call Ratio Open Interest @ 1.22 vs 1.26
- FII's net buyers in all counters
- Volatilty in puts is still higher than calls.
- Europe markets closed positive and US markets closed on account of labor day.
Nifty made a stunning rally ahead of short covering by bears and fresh buying in front liner stocks.Nifty finally reached 61.8% retracement of 4780 and managed to close above that. So will this uptrend continue? its the million dollar question. And so called TV analyst's now says 5600 in nifty within this year end. so lets see. only Bear trigger as of now is -ve divergence spotted on weekly and daily charts.For me until 4700 supports 5005 is visible. So use all dips for buying upto 4700.So after two days of bulls run we will cool off today.Nifty will try to trade above 4700 mark. If market opens gap up try to book profits in long. Below 4777 Nf will see 4752 and 4734 and above 4797 Nifty fut will see 4817 and 4848. Longers try to book profits @ every rise and intiate fresh longs again @ Breakouts.SBIN gave a Break out of symmetrical triangle will target 1880 and 2000.
Levels ::
Nifty fut supp @ 4735 :: Res @ 4857
Bearish > 4797 < Bullish
Happy trading !!!!
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