Indice Nifty 50Short
NIFTY for 9th October
Hi Guys, welcome to result season Q2FY20. 4 Nifty companies (Infosys, TCS, Indusind bank, Hindustan Unilever) are going to announce their results for Q2 before the end of the week. Let's examine other relevant data.
1) FII & DII data: The provisional data for 7th October shows that FIIs were net sellers by 494 crs and DIIs were net buyers by 905 Crs. One significant point was that in absolute figure terms, FII figures were in 3k range which normally are in 5k range. The final data for last friday show that FIIs were net sellers in Equity and in index futures and marginal net buyers in stock futures. So conclusion is same- FIIs are not gung-ho about economy and are still in selling mode.
2) Option chain data: For expiry 10th October, on PUT side highest total OI (13.27 lakhs) is at 11000 strike but highest fresh Put writing (4.59 lakhs) took place at 11100 which has 3rd highest total OI (10.56 lakhs). At 11000, we have 2nd highest fresh Put writing (2.89 lakhs). So for tomorrow, 11000 looks better support since Monday's close is just 26 points above 11100 and Nifty is looking week as per OC data. On CALL side, 11200 is clear cut resistance, since it has highest fresh Call writing ( 10.90 lakhs, higher as compared to other strikes by leaps and bounds). The total OI (19.27 lakhs) at 11200 is 4th highest, though in absolute figure terms is quite near to highest total OI (23.11 lakhs)at 11500. For tomorrow, the bracket is seen at 11000-11200.
3) Charts: Nifty again finished as a red candle with lower low and lower high. The high made is near 20 & 200 EMA lines which now will act as resistances. If you see 15 min chart, we see that weakness experienced during last one hour made even lower low as compared to low made during openning 15 minutes, which highlights extreme weekness. If we check Fibonaccci retracement (on daily chart), Nifty is now between 50% and 61.8% levels. 61.8% golden ratio is seen at 11062 so expect good buying at these levels. Why am I saying good buying? Well, please read my post on banknifty which I will post after this for that info. So after nifty remains near 11050 for an hour or so, we can initiate a buy but book profit quickly as market is very bearish. That's why I am not giving buy levels. For reliable shorting opportunity, levels are given on 15 min chart.
All the best. Happy trading.
1) FII & DII data: The provisional data for 7th October shows that FIIs were net sellers by 494 crs and DIIs were net buyers by 905 Crs. One significant point was that in absolute figure terms, FII figures were in 3k range which normally are in 5k range. The final data for last friday show that FIIs were net sellers in Equity and in index futures and marginal net buyers in stock futures. So conclusion is same- FIIs are not gung-ho about economy and are still in selling mode.
2) Option chain data: For expiry 10th October, on PUT side highest total OI (13.27 lakhs) is at 11000 strike but highest fresh Put writing (4.59 lakhs) took place at 11100 which has 3rd highest total OI (10.56 lakhs). At 11000, we have 2nd highest fresh Put writing (2.89 lakhs). So for tomorrow, 11000 looks better support since Monday's close is just 26 points above 11100 and Nifty is looking week as per OC data. On CALL side, 11200 is clear cut resistance, since it has highest fresh Call writing ( 10.90 lakhs, higher as compared to other strikes by leaps and bounds). The total OI (19.27 lakhs) at 11200 is 4th highest, though in absolute figure terms is quite near to highest total OI (23.11 lakhs)at 11500. For tomorrow, the bracket is seen at 11000-11200.
3) Charts: Nifty again finished as a red candle with lower low and lower high. The high made is near 20 & 200 EMA lines which now will act as resistances. If you see 15 min chart, we see that weakness experienced during last one hour made even lower low as compared to low made during openning 15 minutes, which highlights extreme weekness. If we check Fibonaccci retracement (on daily chart), Nifty is now between 50% and 61.8% levels. 61.8% golden ratio is seen at 11062 so expect good buying at these levels. Why am I saying good buying? Well, please read my post on banknifty which I will post after this for that info. So after nifty remains near 11050 for an hour or so, we can initiate a buy but book profit quickly as market is very bearish. That's why I am not giving buy levels. For reliable shorting opportunity, levels are given on 15 min chart.
All the best. Happy trading.
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