TREND WATCH------
• In the medium term,
--- Nifty is in down trend (from 5th Feb.) with targets of 4740**, 4600, 4460.
--- The down trend will ‘terminate’ above 4951.
• In the short term,
--- Nifty is in uptrend (from 11th Feb.) with targets of 4880, 4900, 4960.
--- The up trend will ‘terminate’ below 4748.
(Targets are +/- 20 points, ** means target achieved)
FUND FLOW- FEB 11------
• FII in cash market: + 212 cr
• DII in cash market: + 61 cr
• FII in Index Fut: + 675 cr (open interest -22000 contracts)
• FII in Stock Fut: + 293 cr (open interest -3100 contracts)
(From www.nseindia.com)
DERIVATIVE CUES----
• Nifty February future discount converted in to premium of 2 points so cost of carry increased. (Bullish)
• Nifty open interest decreased by 13 lacs suggests short covering. (Total OI now at 3.18 cr )
• Nifty calls shed 17 lacs and puts added 19 lacs in open interest. (Bullish)
• Nifty open interest put-call ratio is at 1.05.
• 4800 puts had open interest of 61 lacs ( + 8%) and 5000 calls had open interest of 60 lacs ( - 7%), so 4800 and 5000 will be important levels to watch for.
• India VIX closed at 28.81, decreased by 5.7% suggests stability. (Bullish)
• In Nifty stocks, advance-decline ratio is 44/6. (Bullish)
