TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 62.2 (- 0.8%)
• SGX Nifty is trading around 5053.
• Nifty made high and low of 5079 and 5041 on last trading day.
• Last swing bottom is at 4924 and swing top is at 5079.
• Trading above 5079, up move will continue up to 5090, 5120, 5150.
• Below 5041, 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 (achieved), 5150.
DERIVATIVE CUES----
• Nifty November future premium decreased to 0.3 points so cost of carry decreased. (Bearish)
• Nifty open interest increased by 9 lacs suggests short addition. (Total OI now at 2.99 cr)
• Nifty calls added 7 lacs and puts added 14 lacs in open interest. (Bullish)
• Nifty open interest put-call ratio is at 1.54.
• 5000 puts had open interest of 54 lacs (+13%) and 5100 calls had open interest of 43 lacs (+9%), so 5000 and 5100 will be important levels to watch for.
• India VIX closed at 26.39, decreased by 1.5% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is 27/23. (Bullish)
