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bank nifty

NIFTY X RAY REPORT 13 APRIL

The markets lost a significant part of its gains towards the end but still managed to close substantially higher above 13 and 34 EMA. Nifty has given bullish divergence on charts. slow stochastic ahs turned up.ADX is moving slowly towards upside. Metal, FMCG and banking supported the indices well while IT and tech pulled them down. Ahead of its results, Infosys was the biggest dampener among IT counters. Nifty shut shop at 5277, up 50 points. The CNX Midcap index closed with 0.8% gain while the BSE small cap index was up 1% in today's trade. The market breadth was positive with advances at 937 against declines of 490 on the NSE.
5200 PE added higest openterest  today with total openinterest at 6807250.5300 CE oi is decreased by 18200 contracts. huge put writing has been seen today by big and smart players. big resistance on chart. Any 2 consecutive close above 5340 nifty will fly to 5500-5600 level nonstop.
We have all ready entered in nifty, but If have not entered in nifty wait for 5340 level. certainly you will get 200 points up side.

NIFTY X- RAY REPORT FOR 12 APRIL

The Sensex closed at 17199, down 44 points from its previous close, and the Nifty shut shop at 5227, down 17 points. The CNX Midcap index closed with 0.6% loss while the BSE smallcap index was down 0.3% in today's trade. The market breadth was negative with advances at 544 against declines of 884 on the NSE. As I told you in my previous post that there  was distribution between put writers and call writers and market can be violent any time. Today's data is similar like yesterday, but chart pattern is different from yesterday. Slow stochastic indicator has fallen very sharply which is creating doubt for down move. Rate of change (Roc) indicator indicating that there is changing in rate positive side. 5200 PE added 563450 contracts in OI and 5300 CE added 909100 contracts in open interest. 5400 CE also added 683900 contracts. There is still a distributed views on nifty. Today Call writing figure is grater than put writing figure. nifty future premium increased from 18 points to 24 points.
Nifty took support continue 2 days around 5200 level and it is moving in very tight range 5190-5340 now. Data is not suggesting anything clear, but chart is suggesting A minor up move is due up to 5330-5340 levels. Any 2 consecutive close above 5340 nifty may kiss to 5500-5600 level. Only intraday trading is advisable till 5340 level.     

NIFTY X-RAY REPORT FOR 11 APRIL

 NIFTY X-RAY REPORT FOR 11 APRIL

The Sensex closed at 17244, up 22 points from its previous close, and the Nifty shut shop at 5244, up 9 points. The CNX Midcap index closed with 0.4% loss while the BSE Smallcap index was down 0.1% in today's trade. The market breadth was negative with advances at 624 against declines of 780 on the NSE. The top Nifty gainers were Tata Power, Reliance Communications, Tata Motors and Kotak Mahindra Bank while the biggest losers included BHEL, Ambuja Cements, Ranbaxy and GAIL.

A volatile session is expected ahead. 5200 call added 272550 contracts in open interest and 5200 put added 444450 contracts in open interest. 5100 put added 252450 contracts in open interest, indicating distribution at this level  around 5200. Market can turn violent any time at current situation. 5135 zone will act as a strong support zone. Nifty future open interest decreased by 2.36% Indicating less interest in short by smart money.  Around 5150 levels nifty is attractive to buy with  strict stoploss at 5110 level.

Slow stochastic indicator has fallen sharply while has not fall today, that’s indicating nifty is ready to come in oversold zone very soon.

Need to be cautious at this level. Only intraday trading is advisable for some days.

INTRAY DAY SUPPORT AND RESISTANCE LEVEL  

Resistance 1     Resistance 2     Resistance 3     Resistance 4     Resistance 5

5274.39              5292.56              5310.76              5329                 5347.26

Support 1         Support 2            Support 3           Support 4         Support 5

5220.06             5202.01              5184                    5166.01            5148.06

                                                                                                            

Recommendation:

Buy at / above: 5256.25   Targets: 5271.75 - 5289.91 - 5308.11 - 5326.33

Stoploss : 5238.14

Sell at / below: 5238.14   Targets: 5222.67 - 5204.61 - 5186.59 - 5168.59

Stoploss : 5256.25

 

NIFTY X-RAY REPORT FOR 10 APRIL

As it expected that market should reverse from 5375 level it has given very good proof today. Expect blood bath till 4900 level in coming days but it’s not a technical confirmation. Any close below 5130 will confirm this fall. After a long time FII sold 1091.98 cr in future market. FII sold today 269.43cr in equity market. Nifty future open interest decreased by 2.23%, indicating long unwinding by FIIs.

Today we have seen huge open interest build up in 5200 CE +427400 and 5300CE +710100 contracts along with decreased in both 5200PE -433200 and 5300PE -520650 contracts comparatively, indicating clearly more down side move for next session. Technically RSI and slow stochastic indicator are giving more power to bears.

Market is moving in a range since two months and gradually range is shifting below. Now market range is 5135-5400. We will see minimum 200 points fall if market break its down side range. All global clues are supporting for bears. There are lots of domestic event in our Indian market so expect volatility in coming rest of week. India vix index reversed after taking support at 20 levels which I have told you in my previous pots.
INTRADAY DAY SUPPORT AND RESISTANCE LEVELS

Resistance1    Resistance2     Resistance 3      Resistance 4       Resistance 5
5256.25            5274.39             5292.56              5310.76                5329
Support 1        Support 2          Support 3            Support 4            Support 5
5202.01           5184                  5166.01                5148.06               5130.14

Recommendation:
Buy at / above: 5238.14 Targets: 5253.62 - 5271.75 - 5289.91 - 5308.11
Stoploss : 5220.06
Sell at / below: 5220.06 Targets: 5204.61 - 5186.59 - 5168.59 - 5150.63
Stoploss : 5238.14

 

NIFTY X-RAY REPORT FOR 09 APRIL
As we discussed in our previous post that Nifty will face hurdle around 5375. It kissed and slip to 5305 and closed at 5322 level. There are no changing in technical indicators. There are a strong falling trend line resistance in Nifty daily chart, Any close above 5475 we may see a strong 200 points jump on nifty charts. Slow stochastic  has reached  in overbought zone very soon only in 4 trading session and ADX is not moving up so there may be a short term downtrend. Any close below 5280 This time will give power to bears. 5400 and 5300 put open interest has decreased and 5300 and 5400 call added open interest showing profit booking by put writers. Nifty future decreased it open interest by 5.42%. We have clearly seen profit booking in long sides.
INTRADAY SUPPORT AND RESISTANCE


Resistance1    Resistance2    Resistance3     Resistance4      Resistance 5
5347.26            5365.56           5383.89             5402.25              5420.64    
Support1        Support2           Support3          Support4            Support 5
5292.56           5274.39            5256.25            5238.14              5220.06
Recommendation:
Buy at / above: 5329 Targets: 5344.59 - 5362.87 - 5381.19 - 5399.54
Stoploss : 5310.76
Sell at / below: 5310.76 Targets: 5295.2 - 5277.02 - 5258.87 - 5240.75
Stoploss : 5329