ANALYSIS FOR MAY 16

CHART SHOWS THAT NIFTY IN CLEAR UPTREND.

********Technicals***** ~May 15~
Nifty gives breakout from consolidation. Nifty closed above last 5 days high and closed at 7 day high. This is very bullish.
Now support will be at 5060,5000,4980.
Resistance is at 5250 and once 5250 is taken out then target will be 5450.

*********strong stock futures***** (http://www.crnindia.com/)
JSW Steel, Lupin, National Alum, Sesa Goa, GE.Ship, Praj Indus, Orchid Cem, SCI, IFCI & Infosys
*******weak stock futures***** (http://www.crnindia.com/)
BPCL, Shree Cem, IOC, ACC, ONGC, GAIL, Grasim, Kesoram Indus, Cummins & Ultra Cem.

****Nifty**** ~May 15~

nifty fut premium converted into discount of 2 points. thus cost of carry decreased. open interest decreased by 4 lakhs. suggest long unwinding.
***Options**** ~ May 15~
calls added 4 lacs in open interest and puts added 14 lacs in open interest. thus open interest put call ratio increased to 1.45 from 1.41

********Fund flow*** ~May 14~

~FII index fut -39 cr..(+1137 cr in may series).

~FII stock fut -52 cr.(-1465 cr in may series).

~FII cash +258 cr (+234 cr in may series).

~Mut cash +133cr (- 352 cr in may series).
*******total fund flow +300 cr today & nifty was up by 54 points.

*******So far net fund flow of -446 cr in may series. ( BUT so far nifty is up in may series from 5000-settelment price as closed at 5011.

happy trading and investing.
- dr.jignesh shah