********POSITIONAL STRATEGY-----Ideal Strategy- INITIATE LONG.
---Do not hold long if closes below-4459.
--- Visit the page to understand how to implement positional strategy during trading hours……….. http://niftydoctor.blogspot.com/2009/04/opening-range-breakout.html
---The positional strategy is based on my mechanical trading system.
********CUES--
--Nifty August future premium converted into discount of 5 points so cost of carry decreased. (Bearish)
--Nifty open interest decreased by 8 lacs suggests long unwinding. (Total OI now at 2.31 cr)
--Nifty calls added 10 lacs and puts added 4 lacs in open interest. (Bearish)
--Nifty open interest put-call ratio is at 1.01.
--4500 puts had open interest of 35 lacs (-0.6%) and 4700 calls had open interest of 43 lacs (+1%), so 4500 and 4700 will be important levels to watch for.
--India VIX closed at 44.24, increased by 3% suggests instability. (Bearish)
--In Nifty stocks, advance-decline ratio is at 14/36. (Bearish)
