*****Nifty is trading in narrow range since 2 days so expansion of the range is likely on 28th August.
********POSITIONAL STRATEGY--
---Ideal Strategy- HOLD LONG.
---Do not hold long if closes below-4629.
--- 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 September future premium increased to 9.6 points so cost of carry increased. (Bullish)
--Nifty open interest decreased by 52 lacs suggests short covering. (Total OI now at 2.33 cr)
--Nifty open interest put-call ratio is at 1.18.
--4600 puts had open interest of 22 lacs (+73%) and 4900 calls had open interest of 26 lacs (+26%), so 4600 and 4900 will be important levels to watch for.
--India VIX closed at 34.84, decreased by 4% suggests stability. (Bullish)
--In Nifty stocks, advance-decline ratio is at 26/24. (Bullish)
----INDIA VIX support line broken so chances of nifty going above 4730 are high.
