TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 61.84 (+0.1%)
• SGX Nifty is trading around 5108.
• Nifty made high and low of 5152 and 5059 on last trading day.
• Last swing bottom is at 5051 and swing top is at 5181.
• Trading above 5152, up move continue seen up to 5180, 5210, 5240.
• Below 5120, correction will be seen up to 5090, 5070, 5050.
• Nifty will be in medium term uptrend ‘’above 5182’’ with targets of 5260, 5400.
• In the short term, Nifty is in uptrend with targets of 5210, 5330.
DERIVATIVE CUES----
• Nifty December future premium increased to 10 points so cost of carry increased. (Bullish)
• Nifty open interest increased by 16 lacs suggests long addition. (Total OI now at 2.94 cr)
• Nifty calls added 6 lacs and puts added 35 lacs in open interest. (Bullish)
• Nifty open interest put-call ratio is at 1.41.
• 5000 puts had open interest of 60 lacs (+11%) and 5200 calls had open interest of 43 lacs (-5%), so 5000 and 5200 will be important levels to watch for.
• India VIX closed at 26.46, decreased by 4% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is 43/7. (Bullish)
