The BSE Index Shuts at 18709 down 230 points from its Previous Close or -1.21%. The NSE Index Shuts at 5676 down 71 Points from its Previous Close or -1.23%.
Daily Chat Indicates Nifty closed below the weekly average of 5720 now bearing towards next support of monthly averages 5585-5413 of 3 months average.
In Friday Session Nifty daily Rsi & Cci both given sell signals and yesterday it given signal it slip towards below trend average. Nifty still in short term uptrend but we seen and expecting correction rally only.
FII Derivative Data:
FII bought 8788 Contracts of Index Future, worth 228.74 cores with net OI increasing by 15070 contracts.
Nifty Future was down by 75 points and Open Interest in Index Futures increased by 15070, So FII has taken shorts in Nifty and Bank Nifty Futures.
Nifty Spot closed at 5676 and broke the previous swing low of 5740 which shows it was a fake breakout above 5740. Gap filling of 5650-5683 has started and gap of 5650 should be filled by tomorrow.
Nifty Future October Open Interest is at 2.63 cores with unwinding of 0.76 Lakh in OI, shorts did profit booking in Nifty future as we are down 150 points from the high of 5855. We have been discussing steep rise in OI till 2.64 cores and expected a correction which is materializing now. Hope traders were able to exit longs.
Total F&O turnover was at 1.02 lakh Cores with total contract traded at 1.96 lakh, today we had a 77 point fall and number of contract traded are quiet less, so we can expect a bounce back if 5650 NS is not broken. PCR at 0.94 and VIX at 17.17, VIX is also trading at its lower end of range and a up move till 18.5-19 is on cards.
6000 CE is having highest Open Interest of 71 lakhs with fresh addition of 3.8 lakhs in OI.5800 CE Open Interest at 70 is second highest lakhs, with fresh addition of 5.5 lakhs, and 6100 calls got unwounded today as premium moved from 8 to rs 3 .5400-6100 CE saw an unwinding of added 20 lakhs in Open Interest.
5600 PE is having highest Open Interest of 60 lakhs with addition of 6.5 lakhs in OI,Bulls were unable to defend 5700 and unwounded 4.4 lakhs. 5400-6100 PE added just 5 lakhs in Open Interest. As discussed yesterday buying happening in 5800 PE premium moved from 92 to 133
FII bought 563.84 cores and DII sold 778 cores in cash segment, INR closed at 52.54. FII sold 433 cores in Stock Futures.
Nifty Futures Trend Deciding level is 5683 (For Intraday Traders), Trend Changer at 5751 Nifty Future (For Positional Traders).
5 DMA at 5732
20 DMA at 5601
50 DMA at 5412
200 DMA at 5203
5 Days Relative Strengthen Index at 44 and 14 Days Relative Strengthen Index at 61 Indicates Nifty placed in BULLISH 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 5711 later zipper levels at 58755marks.
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.
The BSE Index Shuts at 18,695 up 21 points from its Previous Close or +0.11%. The NSE Index Shuts at 5674 up +5 Points from its Previous Close or +0.08%.
Top Nse India Gainers were: Kotak Bank, Bhel, Hindunilvr and Cipla.
Top Nse India Losers Were: Jindal Steel, Cairn, Jp Ass and Ster.
FII Derivative Data:
FII bought 21938 Contracts of Index Future, worth 644.96 cores with net OI increasing by Huge 96896 contracts.
Nifty Future was up by 1 points and Open Interest in Index Futures increased by 96896, FII created fresh longs Index Future longs in Nifty and Bank Nifty Futures. Also do note FII are basically doing lot of day trading in Index futures and rolling over their positions to next series.
Nifty Spot closed at 5674 after making a high of 5703 and unable to break 5720 for 2 day, Bulls are in control of market as they have defended 5648 as Nifty Spot made low of 5652 and bounced back. After big rise on Friday we had another session of consolidation today.
Resistance for Nifty has come up to 5700 and 5720 which needs to be watched closely ,Support now exists at 5648 and 5618 .Trend is Buy on Dips till 5570 is not broken on closing basis.
Nifty Future September Open Interest is at 1.92 cores with a unwinding of 23 Lakh in OI, and all 23 lakhs got rollover to October Series. Rollovers have started in Nifty Futures with addition of 46 lakhs in October series. Fresh longs are created in October series.
Total F&O turnover was 1.91 lakh Cores with total contract traded at 2.90 lakh. PCR at 0.99 and VIX tanked 10% at 17.11.
5800 CE is having highest Open Interest of 89 lakhs with fresh addition of 13 lakhs in OI.5700 CE Open Interest at 68 is second highest lakhs, with unwinding of 2 lakhs. Immediate support is at 5648 as 5600 CE sheded another 4 lakhs as per Open Interest table. 5300-5900 CE unwounded just 0.18 lakhs in Open Interest.
5600 PE unwounded 1.6 lakh in Open Interest total OI at 77 Lakhs,Bulls want to make 5600 as base for September Series.5700 PE added 4 lakhs in OI so we should see some good move ie. Break below 5648 or break above 5720 tomorrow. 5300-5900 PE unwounded 21 lakhs in Open Interest as major unwinding coming from 5500 PE. FII are booking profits in Puts written by them.FII bought 5845 cores do note it includes the Bulk deal in Bayer Corp science and Cairn India and DII sold 1374 cores in cash segment, INR closed at 4 months high at 53.36 . FII sold 610 cores in Stock Futures.
Nifty Futures Trend Deciding level is 5452, Trend Changer at 5677 Nifty. (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
5 DMA at 5638
20 DMA at 5426
50 DMA at 5329
200 DMA at 5165
5 Days Relative Strengthen Index at 76 and 14 Days Relative Strengthen Index at 72. Indicates Nifty placed in BULLISH 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 5733 later zipper levels at 5755 marks.
Support at It has the first support close to the level of 5666 and below this level mark next support is seen at 5644 later dipping levels near 5622 marks.
The Bse Index put down the lid at 17632 down 47 points or -0.27% and Nifty Shut Stop at 5335 down 15 points or -0.29% from the previous close. CNX Midcap index was down 1% and BSE Small cap index was down 1.4% in Yesterday’s Trade. The market breadth was negative with advances at 335 against declines of 1096 on the NSE.
The markets closed with moderate declines today with metal taking a severe beating.
Top Nse India Gainers were: Power Grid, Tcs, Asian Paints and Dr. Reddy.
Top Nse India Lossers Were: Ster, Jindal Steel, Jp Assosiates and Hindalco.
FII Derivative Data:
FII bought 15439 Contracts of Index Future, worth 433 cores with net OI increasing by huge 69021 contracts.
As Nifty Future was down by 16 points and OI has increased by 69021, FII have created fresh longs in index futures ahead of expiry. FII buying is quiet visible even though mid caps and small cap Index were down by 1.1.5% NF was down by just 16 points.
Nifty Spot closed at 5335 after making the low of 5313; Bulls were under pressure from morning as they 5341 got broken on Nifty. Bears were unable to break the crucial support of 5313 which also is the low for today, shows next 2 days Bulls can be on roar if 5300 is not broken tomorrow.
Resistance for Nifty has come up to 5361 and 5392 which needs to be watched closely ,Support now exists at 5313 and 5294 .Trend is still buy on Dips till 5325 is not broken on closing basis.
Nifty August OI is at 2.0 cores with an unwinding of 32 Lakh in OI, but the same got rollover to September Series. September Series OI is at 1.16 lakhs so 32 lakhs got rollover and 24 lakh extra addition in OI. Longs are getting rollover to next series.
Total F&O turnover was 1.73 lakh Cores with total contract traded at 2.66 lakh, Volumes were quiet high today looking at brutal fall we have seen in mid caps stocks Adani, JIndals.
5300 CE also saw an addition of 5 lakhs with total OI now standing at 34 lakhs. 5400 CE saw an addition of 18 lakhs and total OI stands at 85 lakhs so 5400 CE writers are assuming Nifty will expire below 5400 and they can eat the whole premium, 5400 is immediate ceiling for the market.
5300 PE sheded 12 lakh in OI and having the OI at 95 lakhs which suggests traders are getting little jittery that 5300 will not break in August Expiry.5400 PE unwounded 13 Lakh in OI. So as NF closed below 5400 third day running, and Put writers got jittery as Nifty came near 5313. 5300 seems a strong base and 5400 strong resistance for next 2 days.FII net sold 877 cores in Options suggesting profit booking in Put option as they saw a huge unwinding of 25 lakhs basically in 5300 and 5400 PE.
FII bought 93 cores and DII sold 314 cores in cash segment.INR closed at 55.6. FII were again sellers of 551 cores in Stock futures.
Nifty Futures Trend Deciding level is 5328, Trend Changer at 5327 NF (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
5 DMA at 5380
20 DMA at 5325
50 DMA at 5247
200 DMA at 5118.
5 Days Relative Strengthen Index at 434 and 14 Days Relative Strengthen Index at 54. Indicates Nifty placed in NEUTRAL Zone.
Nifty Support & Resistance:
Nifty Resistance at It has the First resistance close to the level 5355 and above the level marks the track point at 5400 later zipper levels at 5444 marks.
Support at It has the first support close to the level of 5311 and below this level mark next support is seen at 5288 later dipping levels near 5266 marks.
* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.