Tuesday, June 17, 2008

MY ANALYSIS FOR JUNE 18


********RECAP OF WHAT I SAID**********

On June 9 ---‘’If today’s low not visited at all tomorrow then forget about further downside in markets.( I am now bullish about markets now for short term)’’(nifty closed at 4501)

On June 10---‘5 day RSI shows positive divergence( means nifty making lower bottom but RSI not).SUGGEST VERY BULLISH SIGN SO WE MAY SEE GOOD BOUNCE OR RALLY IN MARKET VERY SOON.’(nifty closed at 4450)

On June 12---‘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’.’(nifty closed at 4539)

On June 13---‘OUR MARKET HAD SEEN FIVE TAILS IN LAST SEVEN DAYS.THEY ARE TAILS OR ROCKETS?I THINK THEY WILL ACT AS ROCKETS ONCE NIFTY CLOSE ABOVE Y'DAY HIGH OF 4550.WATCH FOR IT.’(nifty closed at 4517)

I HOPE ALL MY READERS OF THIS BLOG MUST HAVE TAKEN ADVANTAGE OF THIS.

********Technicals*****
Nifty should remain in consolidation range of 4500-4750 for few days.
so buying and shorting both opportunity will be available for traders
Nifty cleared the important resistance of 4640 on closing basis today.
Support is at 4620,4550.
Resistance is at 4700,4760.
*********strong stock futures***** (http://www.crnindia.com/)
Chambal Fert, Ranbaxy, Aurobindo Pharma, Divi Lab, S kumar, Lupin, Praj Ind, Crompton Greaves, BRFL & Nagar Fert
*******weak stock futures***** (http://www.crnindia.com/)
Ansal Prop, APIL, Sobha, BPCL, Patel Eng, Hind Petro, JP Asso, Wockhardt, GMR Infra & Shree Cem.
****Nifty**** ~ June 17~
Nifty future discount increased to 18 points. Open interest increased by 13 lakh today. ( new ‘short’ position---bearish)
***Options**** ~ June 17~
Nifty call options add 18 lakh and put options add 14 lakh in open interest. Thus open interest put-call ratio increased to 1.54.(bearish)
********Fund flow*** ~June 16~
((On june 13 mut funds +238 against prov +457cr))
~FII index fut +180cr
~FII stock fut +132cr
~FII cash -533cr
~Mut cash +293cr (prov)
*******total fund flow +72 cr today & nifty was up by 55 points. (bullish)
*******So far net fund flow of -7056 cr in June series. (So far nifty is down in June series from 4835- the settlement price)
happy trading and investing.
- dr.jignesh shah