------CURRENT SHORT TERM DOWNREND IS IN DANGER OF TERMINATION IF NIFTY TRADES AND CLOSES ABOVE 2640.CUES-
--Nifty March future discount decreased to 17 points thus cost of carry increased.
--Nifty open interest decreased by 5 lacs suggests short covering.
--Nifty call option added 5 lacs and put option shed 4 lacs.
--Put-Call Ratio decreased to 1.25.
--2500 put had open interest of 86 lacs, so 2500 will be imp level to watch for.(similar OI build up was seen in October at 3800 put…..so be carefull)
--implied volatility decreased by 200 basis points suggests stability.
--India VIX closed at 39.38, decreased by 4% suggests stability.
--US markets closed in green
--Asian markets trading strong.
--Sgx nifty trading at 2673. (UP 89)
--Positional strategy for nifty—Hold short with closing stoploss of 2632. (Initiated at 2674).
--Nifty March future discount decreased to 17 points thus cost of carry increased.
--Nifty open interest decreased by 5 lacs suggests short covering.
--Nifty call option added 5 lacs and put option shed 4 lacs.
--Put-Call Ratio decreased to 1.25.
--2500 put had open interest of 86 lacs, so 2500 will be imp level to watch for.(similar OI build up was seen in October at 3800 put…..so be carefull)
--implied volatility decreased by 200 basis points suggests stability.
--India VIX closed at 39.38, decreased by 4% suggests stability.
--US markets closed in green
--Asian markets trading strong.
--Sgx nifty trading at 2673. (UP 89)
--Positional strategy for nifty—Hold short with closing stoploss of 2632. (Initiated at 2674).
