********Technicals***** ~2nd May~
Nifty consolidated around 5200 and closed above 200 DMA for the third time.
There is a formation of rising wedge (see chart below)which is bearish so drastic fall not ruled out.
At the same time weekly macd turning positive so fall will not be large.
Support is now at 5200-5160.
*********strong stock futures***** (www.crnindia.com)
Bombay Dyeing, Praj Indus, Sasa Goa, TVS Motor, JP Asso, Indusind Bank, Lic.Hous.Fin, LITL, Channai Petro & Escorts .
*******weak stock futures***** (www.crnindia.com)
Grasim, Siemens, Indian Bank, Shree Cem, ZEEL, ACC, India Cem, Ultratech Cem Co, APIL & Kesoram Indus.
****Nifty**** ~2nd may~
Nifty future premium decreased to 18 points. So cost of carry decreased. Open interest increased by 0.7 lakh today. Suggest profit booking in long and also new short position.( negative for market)
***Options**** ~2nd may~
Nifty call options add 22 lakh and put options add 20 lakh in open interest. Thus open interest put-call ratio decreased to 1.40. (Negative for market as nifty was up today and PCR decreased today)
********Fund flow*** ~30th April~
~FII index fut +130 cr..(+1554 cr in May series).
~FII stock fut -396 cr.(-546 cr in may series).
~FII cash -85 cr(+692cr in may series).
~Mut cash data not available (+109 cr in May series).
*******total fund flow -351 cr today & nifty was down by 30 points.
*******So far net fund flow of +1809 cr in may series. (So far nifty is up in May series from 5000-settelment price)
happy trading and investing.
- dr.jignesh shah
