***TechnicalsNifty breaks the important support of 4330-4350 and closed below it.
Now 4200 (14000 in sensex) is last hope and support below which downtrend will begin with targets of 3800, 3600, 3400.
Meanwhile nifty can bounce back up to 4450.
***Derivatives (September 11)
-Nifty (September) future premium decreased to 14 points and around 2 lakh shares were added in open interest with decrease in the cost of carry,indicating new short at higher levels.
-Nifty call option added 38 lakh shares in open interest, whereasput option shed 17 lakh shares in open interest.Thus open interest put-call ratio decreased to 1.00.
- implied volatility has increased by around 300-350 basis points across
different strike prices, which indicates high volatility in the coming
days.
***Fund flow (September 10)
~FIIs net in Index fut. -1016 cr
~FIIs net in Stock Fut. -485 cr
~FIIs in Cash Market -870 cr
~Mut Funds in Cash Market +115 cr
***total fund flow -2256 cr today & nifty was down by 68 points.
*** so far net fund flow of -3566 cr in September series. (nifty is up in September series). This suggests that upside will be limited only.
***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
