CHART SHOWS THAT CONFUSION IN TECHNICALS OF NIFTY.WHILE MACD IS GIVING BUY SIGNAL,RSI IS AT RESISTANCE LEVEL AND STOCHASTIC IS IN BUY MODE.
THAT'S WHY NIFTY SHOULD BE RANGE BOUND FOR FEW DAYS.
RSI(5), MOMENTUM, ROC STILL IN BUY MODE.
THIS CHART IS FOR SHORT TERM PLAYERS.
INTRADAY RSI SHOWS POSITIVE DIVERGENCE SO DOWNSIDE SHOULD BE LIMITED.
********Technicals*****
Nifty is in consolidation.
At higher levels selling pressure was seen and at lower levels short covering helped nifty to stay above 4550.
Support is at 4550,4500.
Resistance is at 4640,4700.
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****Nifty**** ~ June 18~
Nifty future discount decreased to 17 points. Open interest unchanged today.
***Options**** ~ June 18~
Nifty call options add 0.5 lakh and put options shed 0.6 lakh in open interest. Thus open interest put-call ratio remains at 1.54.
********Fund flow*** ~June 17~
~FII index fut +677cr
~FII stock fut -50cr
~FII cash +394cr
~Mut cash +420cr (prov)
*******total fund flow +1441 cr today & nifty was up by 80 points(BULLISH).
*******So far net fund flow of -5650 cr in June series. (So far nifty is down in June series from 4835- the settlement price)
happy trading and investing.
- dr.jignesh shah
