TECHNICAL CUES-------
• Nifty made high and low of 5017 and 4870 on last trading day.
• Last swing bottom is at 4860.
• Trading above 5017, up move will continue up to 5042, 5055, 5080.
• Below 4950, correction will be seen up to 4920, 4890.
• In the medium term Nifty is in corrective down move with targets of 4700(achieved), 4550(achieved), 4400.
• In the short term, Nifty is in short term uptrend with targets of 5042, 5080, 5150.
DERIVATIVE CUES----
• Nifty November future discount converted in to premium of 6 points so cost of carry increased. (Bullish)
• Nifty open interest increased by 9 lacs suggests long addition. (Total OI now at 2.89 cr)
• Nifty calls shed 9 lacs and puts added 88 lacs in open interest. (Bullish)
• Nifty open interest put-call ratio is at 1.56.
• 4900 puts had open interest of 50 lacs (+82%) and 5000 calls had open interest of 36 lacs (-12%), so 4900 and 5000 will be important levels to watch for.
• India VIX closed at 28.96, decreased by 3.6% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is 47/3. (Bullish)
*** To view call performance of the E-mail service,
visit the blog at
www.niftydoctor-calls.blogspot.com
