CHART SHOWS THAT NIFTY IS NOW IN A TRIANGLE.BREKOUT WILL GIVE DIRECTION.
********Technicals***** ~May 14~
Nifty is in consolidation between 4920-5060
Breakout will give direction
Below 4920 nifty will be converted into downtrend from correction mode.
If 4920 is held then target will be 5500.
*********strong stock futures***** (www.crnindia.com)
Orchid Cem, Titan, JSW Steel, Praj Indus, Tata Steel, Mphasis, GE.Ship, Sesa Goa, National Alum & HCL Tech.
*******weak stock futures***** (www.crnindia.com)
BPCL, ACC, Shree Cem, Ultra Cem, IOC, ONGC, Crompton Greaves, India Cem, GAIL & Grasim.
****Nifty**** ~May 14~
Nifty future premium decreased to 6 points. So cost of carry decreased. Open interest decreased by 8 lakh today. Suggest profit booking.
***Options**** ~ May 14~
Nifty call options add 7 lakh and put options add 6 lakh in open interest. Thus open interest put-call ratio decreased to 1.41.
********Fund flow*** ~May 13~
~FII index fut +658 cr..(+1176cr in may series).
~FII stock fut +4 cr.(-1413 cr in may series).
~FII cash +196 cr (-24cr in may series).
~Mut cash -305cr (-485 cr in may series).
*******total fund flow +553 cr today but nifty was down by 55 points. (divergence)
*******So far net fund flow of -746 cr in may series. (so far nifty is down in may series from 5000-settelment price as closed at 4957)
happy trading and investing.
- dr.jignesh shah
