Nifty Market View & FII Derivative Data – 23 October’2012


The Bse Index Shuts at 18794 up 112 points from its Previous Close or +0.59%. The Nse Index Shuts at 5718 up 33 Points from its Previous Close or +0.58%.

  • As per Indicators side Rsi & Cci given reverse signal on chart with today’s positive closing and Macd still negative on daily chart.

FII Derivative Data:

  • FII bought 8090 Contracts of Index Future, worth 236.01 cores with net OI increasing by 78396 contracts.
  • Nifty Future was up by 36 points and Open Interest in Index Futures increased by 78396, FII covered shorts and initiated fresh longs in Nifty Future and Bank Nifty. An important point to note today’s traded contract in Index future is highest in the month of October so is this the hint that we will break the 90 points range of 5635-5725 on Upside.
  • Nifty Spot closed at 5719 after making a high of 5722 and low of 5658. Nifty spot again was unable to break 5725 and 5638 so still trading within the range of 5635-5725. It has been 9 days of consolidation in this range and has been a very frustrating range to traders. Best is to stay on sidelines till this range breakout/breakdown gets resolved. Now the Bollinger band on Daily charts has squeezed so a fast move is round the corner, either it will be before expiry.
  • Resistance for Nifty has come up to 5725 and 5741 which needs to be watched closely ,Support now exists at 5690 and 5676 .Trend is Sell on Rise till 5725 is not broken on closing basis.
  • Nifty Future October Open Interest is at 1.97 cores with liquidation of 24 Lakh in OI, long liquidation in Nifty. Rollovers have started in Nifty Future and 46 lakhs got rollover from October Series.
  • Total F&O turnover was at 1.72 lakh Cores with total contract traded at 2.61 lakh, PCR at 1.12 and VIX collapsed 10% to 13.04,Cash market volumes dipped again today so our assumption on Thursday that higher cash volumes were sign of distribution proved right.
  • 5800 Call is having highest Open Interest of 1.17 Core with addition of 9.7 lakhs in OI as Premium increased from Rs 3 To Rs 7 ,5700 Call sheded 9 lakhs in OI after Bulls were able to close nifty above 5700 .5500-5900 CE sheded 3.5 lakhs in Open Interest.
  • 5600 Put is having highest Open Interest of 83 lakhs with addition of 15 lakhs in OI so 5600 is strong base for Nifty. 5700 Put saw a addition of 7 lakhs put writers were rewarded as premium reduced from Rs 50 to Rs 18 .5500-5900 PE added 17 lakhs in Open Interest, so can Bulls break 5725 tomorrow .
  • FII bought 241.68 cores and DII sold 137.9 cores in cash segment, INR closed at at 53.67. FII bought 294.66 cores in Stock Futures.
  • Nifty Futures Trend Deciding level is 5705 (For Intraday Traders), Trend Changer at 5719 Nifty Futures (For Positional Traders)
  • 5 DMA at 5686
  • 20 DMA at 5694
  • 50 DMA at 5510
  • 200 DMA at 5253
  • 5 Days Relative Strengthen Index at 59 and 14 Days Relative Strengthen Index at 59 Indicates Nifty in Bullish Zone.

Nifty Spot Support & Resistance:

Nifty Resistance at It has the First resistance close to the level 5733 and above the level marks the track point at 5755 later zipper levels at 5777 marks.

Nifty Support at It has the First support close to the level 5688 and below the level marks the track point at 5666 later zipper levels at 5644 marks.

Nifty Future Momentum Call for 23 Oct’2012:

Buy above 5733 sl 5711 Tgt 5755-5777 {Or} Sell Below 5688 sl 5711 Tgt 5666-5644

Bank Nifty Future Momentum Call for 23 Oct’2012:

Buy Bank Nifty Future Above 11666 sl 11622 Tgt 11711-11755 {Or} Sell Below 11577 sl 11622 Tgt 11533-11488