Uncertain global and domestic cues weighed on investor sentiments
through today's trade but the market managed to pull back from the lows
of the day and close with smart gains. Sensex closed at 16859, up 153 points and Nifty at 5103, up 39
points from the previous close.
Nifty 5100 put added 1067800 contracts in open interest and 5100 call added 782000 contracts in open interest. Nifty 5200 put added 172850 contracts and 5200 call added 475650 contracts. Nifty future closed at 5110 1.02% up and open interest decreased by -0.72%. Here is a big game happening to trap small investors I think. FII sold 8534 contracts in Nifty future worth rs 253.99 crores. Fii sold 253.99 and nifty future up by 1.02%, open interest decreased by 0.72% and no unwinding seen from 5100 and 5200 calls while market up today. This indicates that market will locked very soon up side. 5100 and 5200 call writers are still confident in even rising market. The open interest also increasing with trend and discount of shares also increasing with rise in trend , indicating down move very soon. Watch the previous resistance 5145 level carefully. Tomorrow during market hour if No unwinding seen from 5200 call there will be first class shorting opportunity at higher level. Market slide yesterday and FII bought, Market rise today and FII sold nifty future, Indicating that FIIs have used this rise to book profits as opportunity. Short nifty around 5140-5150 level will be good strategy if tomorrow no unwinding seen in 5200 call. India vix is at 21.43 strong support at 20 level.
I highly expect that a big storm is about to come. Investors who will keep patience for one or two days will get handsome reward.
Bears will high jack nifty around 5150-5200. 