--Our market is no more a 'deal market' but its a 'dull market'.
TECHNICAL CUES-------
• MSCI India Index ETN (INP) closed at 64 (+0.5%)
• SGX Nifty is trading around 5103.
• Nifty made high and low of 5157 and 5090 on last trading day.
• Last swing bottom is at 5084 and swing top is at 5183.
• Trading above 5120, up move will be seen up to 5145, 5160, 5180.
• Below 5090, correction will be seen up to 5070, 5050, 5030.
• In the medium term, Nifty is in uptrend with targets of 5260, 5400.
• In the short term, Nifty is in uptrend with targets of 5210, 5330. Below 5084, short term uptrend will be terminated.
DERIVATIVE CUES----
• Nifty December future discount converted in to premium of 1.7 points so cost of carry increased. (Bullish)
• Nifty open interest decreased by 1 lacs suggests long addition. (Total OI now at 2.87 cr)
• Nifty calls added 10 lacs and puts added 6 lacs in open interest. (Bearish)
• Nifty open interest put-call ratio is at 1.29.
• 5000 puts had open interest of 56 lacs (+2%) and 5200 calls had open interest of 70 lacs (+6%), so 5000 and 5200 will be important levels to watch for.
• India VIX closed at 27.89, increased by 2.7% suggests instability. (Bearish)
• In Nifty stocks, advance-decline ratio is 18/32. (Bearish)
