WHETHER NIFTY WILL CROSS THE 4540 OR NOT WILL DEPEND ON DOW AND CRUDE.SO IF DOW CROSSES 11860 AND CRUDE BREAKS 106 ON CLOSING BASIS THEN AND THEN ONLY, WE WILL BE IN UPTREND, OTHERWISE CHANCES OF DOWNTREND ARE VERY VERY HIGH..........
********Technicals***** ~September 2~Breakout from sideway trend occurs with a bang.
Now follow up buying is required to claim for uptrend.
If nifty trades and closes above 4540 then uptrend will resume with targets of 4640,4770.
But if nifty again trades below 4450 without trading above 4540 then nifty will be again sideways with downward bias.
***Nifty**** ~ September 2~
Nifty (September) future premium increased from 1.75 points
to 12.55 points. Around 12.80 lakh shares
were added in open interest with an increase in the cost of carry,
indicating long accumulation.
***Options**** ~September 2~
Nifty call option added 11.70 lakh shares in open interest, whereas
put option added 30.54 lakh shares in open interest Thus open interest put-call ratio increased to 1.39.On the option front, implied volatility
has increased marginally, which indicates that volatility will remain
high in the coming days
*******Fund flow*** ~ September 1~
~FII index fut -200cr
~FII stock fut – 64cr
~FII cash -172 cr
~Mut cash -81 cr
*******total fund flow -517 cr today & nifty was down by 11 points.
****** so far net fund flow of +191 cr in September series. (nifty is up in September series).
***********Past fund flow**********
~ Net fund flow of +6474 cr in July series. (Nifty +18 in series, closed at 4333)
~ Net fund flow of -8071 cr in June series (Nifty -520 in series, closed at 4315)
~Net fund flow of -6641 cr in August series. (Nifty -119 in series, closed at 4214)
happy trading and investing.
-dr.jignesh shah
