********POSITIONAL STRATEGY-----Ideal Strategy- NEUTRAL.
---Do not hold long if closes below-4464.
--- Do not hold short if closes above -4604.
--- 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 discount increased to 15 points so cost of carry decreased. (Bearish)
--Nifty open interest increased by 26 lacs suggests short addition. (Total OI now at 2.57 cr)
--Nifty calls added 58 lacs and puts added 17 lacs in open interest. (Bearish)
--Nifty open interest put-call ratio is at 0.93.
--4300 puts had open interest of 42 lacs (+10%) and 4500 calls had open interest of 37 lacs (+90%), so 4300 and 4500 will be important levels to watch for.
--India VIX closed at 46.49, increased by 5% suggests instability. (Bearish)
--In Nifty stocks, advance-decline ratio is at 00/50. (Bearish)
