Thursday, August 28, 2014

Nifty August Series Expiry view

Nifty August Series Expiry view
  • Nifty  has done nothing from past 6 trading session and closing in range of 7875-7936. Series of Dojis around new high suggesting market participants are confused on next move.Also we have rising wedge forming on daily chart and most of market participants looking to see 8000 on Index . Will market oblige ?
  • Nifty Future Aug Open Interest Volume is at 88.5 lakh with liquidation of 16  lakh suggesting long liquidation and 42 lakh got rollovered to September series.VIX being very low suggests bulls are still overconfident and every dip is getting bought into.
  • Total Future & Option trading volume was   at 2.83  lakh core with total contract traded at 2.2  lakh. PCR @1.02
  • 8000  CE  OI at 1.04 Core  suggesting wall of resistance , 7800 CE  liquidated 5.3 lakh  suggesting bears cutting down positions  . 7900 CE liquidated 6.7 lakh suggesting bulls are making support on 7900 . FII’s bought 7.8 K CE longs and 21.7 K  CE were shorted  by   them. FII are shorting 7900/7800 CE, so is this an indication of expiry below 7900 ?
  • 7900 PE OI@ 59.5 lakhs so strong base @ 7900 .FII’s bought 8.7  K contract  PE longs and 5.2 K shorted PE were covered  by them.
  • FII’s bought 290  cores in Equity and DII bought 237 cores in cash segment.INR closed at 60.43.FII’s have bought 3.3 K cores and DII’s
  • Nifty Futures Trend Deciding level is 7934 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7778 and BNF Trend Changer Level (Positional Traders) 15340 .

Buy above 7950 Tgt 7963,7980 and 8000 (Nifty Spot Levels)

Sell below 7933 Tgt 7919, 7902 and 7880 (Nifty Spot Levels)

Upper End of Expiry:7988      Lower End of Expiry:7879

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