TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 60.33 (-1.3%)
• SGX Nifty is trading around 5012.
• Nifty made high and low of 5055 and 4983 on last trading day.
• Last swing bottom is at 4968 and swing top is at 5182.
• Trading above 5020, up move will be seen up to 5050, 5070.
• Below 4983, correction will be seen up to 4968. Below 4968, Nifty will be in down trend with targets of 4934, 4905, 4880, 4850.
• Currently Nifty is in uptrend (medium term) with targets of 4900(achieved), 5100(achieved), 5300. Below 4934, medium term uptrend will be terminated.
• Nifty is in corrective down move with targets of 5061(achieved), 5034(achieved), 5010(achieved), 4980(achieved). Below 4968, Nifty will be in short term down trend with targets of 4934, 4905, 4880, 4850.
DERIVATIVE CUES----
• Nifty October future premium increased to 11 points so cost of carry increased. (Bullish)
• Nifty open interest decreased by 2 lacs suggests long addition. (Total OI now at 2.69 cr)
• Nifty calls added 6 lacs and puts shed 3 lacs in open interest. (Bearish)
• Nifty open interest put-call ratio is at 1.29.
• 4900 puts had open interest of 53 lacs (-13%) and 5100 calls had open interest of 56 lacs (+4%), so 4900 and 5100 will be important levels to watch for.
• India VIX closed at 24.49, decreased by 4% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is at 28/22. (Bullish)
