---bse chart from caldaro.---here 5 day rsi shows negative divergence.
---macd is also ready to give sell signal.
---but rsi is still at trendline support.
---NIFTY CHART FROM I-CHART. --rsi shows negative divergence so all longs should now needs to have proper hedge.
--at the same time rsi is at trendline support of the uptrend so bias still remains on the long side.
---macd is converging and ready to give sell signal.
---stochastics have given sell signal.
CUES-
--Nifty May future discount converted to premium of 2 points so cost of carry increased.
--Nifty open interest decreased by 1.3 lacs suggests short covering. (Total OI now at 3.89 cr)
--3600 puts had open interest of 32 lacs and 3800 calls had open interest of 36 lacs, so 3600 and 3800 will be important levels to watch for.
--India VIX closed at 57.02, increased by 4% suggests instability and uncertainity.
--US markets closed in green.
--Positional strategy for nifty—
---IDEAL STRATEGY—LONG.
---CLOSING STOPLOSS FOR LONG—3603.
---CLOSING STOPLOSS FOR SHORT—3707.
--Nifty May future discount converted to premium of 2 points so cost of carry increased.
--Nifty open interest decreased by 1.3 lacs suggests short covering. (Total OI now at 3.89 cr)
--3600 puts had open interest of 32 lacs and 3800 calls had open interest of 36 lacs, so 3600 and 3800 will be important levels to watch for.
--India VIX closed at 57.02, increased by 4% suggests instability and uncertainity.
--US markets closed in green.
--Positional strategy for nifty—
---IDEAL STRATEGY—LONG.
---CLOSING STOPLOSS FOR LONG—3603.
---CLOSING STOPLOSS FOR SHORT—3707.
