The Bse Index Shuts at 18611 up 33 points from its Previous Close or +0.18%. The Nse Index Shuts at 55661 up 13 Points from its Previous Close or +0.22%.
- Intraday Charts and Nifty Intraday Trend and momentum both indicate Bearish Trend. Closing of the Day Nifty Spot is still below weekly average at 5680 on downside Nifty average month support at 5595 and three months support at 5430. Eod Chart indicators still in sell signals.
FII Derivative Data:
- FII bought 7680 Contracts of Index Future, worth 197 cores with net OI increasing by just 438 contracts.
- Nifty Future was up by 18 points and Open Interest in Index Futures increased by 438, so FII again took some longs in longs of Nifty Future and Bank Nifty. Now if one observe the EOD close of Nifty from 8 Oct it has been one day negative and other day positive eg. 8 Oct down by 75 9 Oct up by 22. So as per the trend tomorrow should be a down day again.
- Nifty Spot closed at 5660 after making a high of 5684 and low of 5634. Sideways consolidation with the repeated testing of the support continues in Nifty and there is no display of any strength during pullback rallies. Such pattern could eventually end up with the Nifty breaking below the supports over next few days.
- Nifty daily chart is forming a Head and Shoulder pattern with Neckline placed at 5635 and if it gets broken with volumes in coming week lower levels are quiet possible.
- Resistance for Nifty has come up to 5684 and 5705 which needs to be watched closely ,Support now exists at 5618 and 5600 .Trend is Sell on Rise till 5725 is not broken on closing basis.
- Nifty Future October Open Interest is at 2.37 cores with unwinding of 2.88 Lakh in OI, shorts getting unwounded. Here do not we were cautious in Nifty longs from 5 October the day it hit 2.64 cores saying it shows overconfidence of Bulls
- F&O turnover was at 1.33 lakh Cores with total contract traded at month low of 1.68lakh, PCR at 0.87 and VIX at 15.17.
- 5800 Call is having highest Open Interest of 1.17 Core with fresh addition of 16.8 lakhs in OI and Premium at Rs 9 (down from 42 4 days ago), 5700 Call unwounded 4.2 lakhs in OI after brief rally in fag end of session but still 5700 will be strong resistance for Nifty .5400-6000 Call added 3.9 lakhs in Open Interest.
- 5500 Put is having highest Open Interest of 85 lakhs with addition of 20 lakhs in OI so such huge addition in 5500 Put suggests Bears are sharpening there claws and we can see a break of 5600 in next 2 days if 5618 gets broken, 5600 PE added 1.6 lakhs and OI at 79 lakhs .5400-6000 PUT added 22 lakhs in Open Interest. So Bears are having upper hand as of now as not allowing nifty to close above 5700
- FII bought 35 cores and DII sold 285 cores in cash segment, INR closed at at 52.87. FII bought 36 cores in Stock Futures.
- Nifty Futures Trend Deciding level is 5637(For Intraday Traders), Trend Changer at 5723 Nifty (For Positional Traders).
- 5 DMA at 5676
- 20 DMA at 5680
- 50 DMA at 5484
- 200 DMA at 5237
- 5 Days Relative Strengthen Index at 44 and 14 Days Relative Strengthen Index at 55 Indicates Nifty Slipping in Bearish Zone.
Nifty Spot Support & Resistance:
Nifty Resistance at It has the First resistance close to the level 5688 and above the level marks the track point at 57511 later zipper levels at 5733 marks.
Nifty Support at It has the First support close to the level 5644 and below the level marks the track point at 5622 later zipper levels at 5600 marks.
Nifty Future Momentum Call for 18 Oct’2012:
Buy above 5688 sl 5666 Tgt 5711-5733 {Or} Sell Below 5644 sl 5666 Tgt 5622-5600
Bank Nifty Future Momentum Call for 18 Oct’2012:
Buy Above 11425 sl 11377 Tgt 11466-11511 {Or} Sell Below 11333 sl 11377 Tgt 11288-11244