TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 62.7 (- 0.4%)
• SGX Nifty is trading around 5080.
• Nifty made high and low of 5074 and 5010 on last trading day.
• Last swing bottom is at 4924.
• Trading above 5074, up move will continue up to 5090, 5120, 5150.
• Below 5050, correction will be seen up to 5030, 5010, 4990.
• 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 (achieved), 5080 (almost achieved), 5150.
DERIVATIVE CUES----
• Nifty November future premium decreased to 1.1 points so cost of carry decreased. (Bearish)
• Nifty open interest increased by 10 lacs suggests long unwinding. (Total OI now at 2.9 cr)
• Nifty calls added 14 lacs and puts added 1.5 lacs in open interest. (Bearish)
• Nifty open interest put-call ratio is at 1.53.
• 5000 puts had open interest of 48 lacs (-1%) and 5100 calls had open interest of 39 lacs (+6%), so 5000 and 5100 will be important levels to watch for.
• India VIX closed at 26.78, decreased by 4% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is 23/27. (Bearish)
