Nifty out Look & FII Derivative Data – 21 September’2012

The Bse Index Shuts at 18,350 down – 147 Points from its Previous Close or -0.79%. The Nse Index Shuts at 5555 down by -46 Points from its Previous Close or -0.82%.

  • Top Nse India Gainers were: M&M Fin Services, Hind Petrol, Sjvn Ltd and Indian Bulls Real Estate.
  • Top Nse India Losers Were: Ttk Prestige, Gmr Infra, Lanco Infra and Jay Prakash Power.
  • Technical correction is in place giving the breathing space to indicator and cooling off the steam of stocks. Consolidation before the next rally will help market to break the swing high of 5652 and March towards 5740. Expiry is just 5 days ahead.

FII Derivative Data:

  • FII sold 5957 Contracts of Index Future, worth 102.69 cores  with net OI decreasing by 33817 contracts.
  • As Nifty Future was down by 41 points and Open Interest in Index Futures decreased by 33817, FII have done profit booking in shorts which they created on Tuesday and coupled with profit booking in longs in Nifty and Bank Nifty Future.
  • Nifty Spot closed at 5554.25, after opening gap down making low of 5537 near our support of 5527 as mentioned, rest of day was consolidating in the range of 5581-5550.As we have said before Consolidation will be name of game for few days and same is happening in market We also have a small gap from 5581-5600 which will be filled eventually.
  • Resistance for Nifty has come up to 5581 and 5602 which needs to be watched closely ,Support now exists at 5537 and 5520 .Trend is Buy on Dips till 5485 is not broken on closing basis.
  • Nifty Future September Open Interest is at 2.18 cores with a fresh addition of 2.4 Lakh in OI, shorts addition is seen in Nifty future.
  • Total F&O turnover was 1.26 lakh Cores with total contract traded at 1.93 lakh. PCR at 1.17 and VIX jumped to 18.62.
  • 5700 CE  is having highest Open Interest of 73 lakhs with addition of 2.5 lakhs in OI Calls were written at 5700 as premium came down from 21 to 10 in single session. .5600 CE Open Interest at 69 lakhs, with addition of 6.3 lakhs. Immediate resistance is at 5600 as per Open Interest table. 5200-5800 CE added 2.4 lakhs in Open Interest, Bears gaining some strength at higher levels.FII Options OI saw an reduction of 4.3 lakhs means big move is round the corner.
  • 5500 PE added 3.9 lakh in Open Interest total OI at 75 Lakhs, Bulls want to make  5500 as base for September Series.5600 PE saw an unwinding of 5.4 lakhs in Open Interest ,so puts written by bulls ran for cover today. 5200-5800 PE unwounded 8.8 lakhs in Open Interest bulls getting jittery at higher levels. Any close below 5554 on Nifty Spot will favor bears in extreme short term (This is what we discussed yesterday and todays close 5554.75
  • FII sold 73 cores and DII sold 331 cores in cash segment, INR closed at 54.38. FII sold 428 cores in Stock Futures.
  • Nifty Futures Trend Deciding level is 5542, Trend Changer at 5405 Nifty. (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
  • 5 DMA at 5555
  • 20 DMA at 5382
  • 50 DMA at 5306
  • 200 DMA at 5156
  • 5 Days Relative Strengthen Index at 68 and 14 Days Relative Strengthen Index at 67. Indicates Nifty placed in BULLISH Zone.

Nifty Support & Resistance:

Nifty Resistance at It has the First resistance close to the level 5577 and above the level marks the track point at 5600 later zipper levels at 5622 marks.

Support at It has the first support close to the level of 5533 and below this level mark next support is seen at 5511 later dipping levels near 5488 marks.

Nifty Future Momentum Call for 21 Sep’2012:

Buy above 5577 sl 5555 Tgt 5600-5622 {Or} Sell Below 5333 sl 5555 Tgt 5511-5488.

Bank Nifty Momentum Call for 21 Sep’2012:

Buy above 10977 sl 10933 Tgt 11066-11115 {Or} Sell below 10888 sl 110933 Tgt 10844-10800.