********Technicals***** ~23rd April~Nifty today consolidated above 5000 with struggle.(3rd closing above 5000)
Stochastic shows sell signal. Minor correction is possible.(watch rsi support line)
Target remains at 5180 which is 161% retrenchment of 4972-4628 swing.
Support is now at 5000-4970.
*****STOCK FUTURES***** (FROM WWW.CRNINDIA.COM)
~strong stock futures~
Arvind Mill, IFCI, Bombay Dyeing, BRFL, MRPL, Chambal Fert, Praj Ind., Tata Teleserve, Polaris & SRF.
~weak stock futures~
Renuka, Indian Bank, Zee, Bharat Petro, SAIL, Patel Eng, Maha Seamless, IOC, Hind Petro & Hind Petro.
****Nifty**** ~23rd April~
Nifty future discount converted to premium of 8 points, so cost of carry increased. Open interest increased by 15 lakh today.( Today's trade dominated by new long position).
Last months settlement prices---
January-5130, feb-5280, march-4830, april-???(5100/5150)
***Options**** ~23rd April~
Nifty call options add 9 lakh and put options add 14 lakh in open interest. Thus open interest put-call ratio increased to 1.36
********Fund flow*** ~22nd April~
~FII buy 255 cr index fut..(total buy of 630 cr in April series).
~FII buy 48 cr stock fut.(total buy of 275 cr in April series).
~FII buy 392 cr in cash (total buy of 662 cr in April series).
~Mut fund (data not given by sebi) in cash (total buy of 809 cr in April series).
*******So net fund flow of +695 cr and nifty was up by 12 points on 22nd .
*******So far net fund flow of +2476 cr in April series.
happy trading and investing.
- dr.jignesh shah
