CUES-
--Uptrend is now 3 days old and can maximum last for 4-6 days.
--Nifty Feb. future discount decreased to 7 points thus cost of carry increased.
--Nifty open interest increased by 1.2 lacs suggests long accumulation.
--Nifty call option added 13 lacs and put option added 20 lacs.
--2800 puts had open interest of 85 lacs, so it will be a trend deciding level to watch for.
--Put-Call Ratio increased to 1.34.
--Implied Volatility of options decreased by 100 basis points indicates bullishness.
--India VIX closed at 44.30, decreased by 12% suggests stability.
--US markets closed in deep red.
--Asian markets trading weak.
--Sgx nifty trading at 2772. (down 49)
--Positional strategy for nifty—Hold Long with closing stop loss of 2837. (Initiated at 2843)
TODAY BREAKOUT FROM OPENING RANGE OF FIRST 15 MINUTES WILL BE VERY IMPORTANT CUE FOR TRADERS.
