THIS CHART SHOWS THAT UPMOVE WILL BECOME STRONGER ONCE IT TRADES ABOVE TODAY'S HIGH.RSI---breaks the short term trendline
MACD--turning positive
STOCHASTIC--continue in buy mode
THIS CHART SHOWS 5 DAY RSI AND ROC.
RSI-- breaks the trendline
ROC--breaks the trendline.
********Technicals*****
Nifty in downtrend and is correcting upwards.
Once again tail(long lower shadow) formed today.
I said that ‘Follow up buying required to sustain the upmove’ and it was there today.
Now no need to say’ I am still bullish in short term’.
Support is at 4470, 4410, 4350.
Resistance is at 4640,
*********strong stock futures***** (www.crnindia.com)
Lupin, Chambal Fert, Ranbaxy, Sun Pharma, Sterling Bio, Divi Lab, Hero Honda, Dr.Reddy, Nicholas Piramal & Aurobindo Pharma.
*******weak stock futures***** (www.crnindia.com)
LITL, Ansal Prop, Patel Eng, Unitech, BPCL, GMR Infra, APIL, Sobha, Shree Cem & Hind Petro.
****Nifty**** ~ June 12~
Nifty future discount decreased to 22 points. Open interest increased by 6 lakh today. (new ‘long’ position---very bullish)
***Options**** ~ June 12~
Nifty call options add 11 lakh and put options add 10 lakh in open interest. Thus open interest put-call ratio decreased to 1.61.(bearish)
*******mut. Fund flow data by sebi as follows*****~Mut cash +59cr on June 6 against +400 cr (PROV)
~Mut cash -41cr on June 9 against +1040cr (PROV)
~Mut cash -152cr on June 10 against +296cr (prov)
*******So far net fund flow of -7283 cr in june series upto june 10. (so far nifty is down in june series from 4835- the settlement price)
********Fund flow*** ~June 11~
~FII index fut +909cr
~FII stock fut +92cr
~FII cash -160 cr
~Mut cash +320cr
*******total fund flow + 1161cr today & nifty was up by 74 points.(bullish)
*******So far net fund flow of -6122 cr in June series. (So far nifty is down in June series from 4835- the settlement price)
happy trading and investing.
- dr.jignesh shah
