Showing posts with label market edge. Show all posts
Showing posts with label market edge. Show all posts

Tuesday, 26 June 2018

Market Setup for Tuesday and outlook



The Nifty index started with flat to give up following global clues, last friday has closed with sharp pull back which was not supported by institutional provisional data, resulting  Nifty open nearly flat at 10823 and almost in fist half it was consolidating and later on gives up following european market and made low 10753 before closing at 10762.

Nifty looks week below 10740  and would be looking next support at 10692/663/613 on the other hand Resistance will be 10774/797/823 and followed by 10852.

Bank Nifty future on the other hand open at 26110 to eat all the stop loss in the system and quickly cover to 26797 so basically most of the friday long been closed by hitting of stop loss to release the pressure on index, shows how beautifully managed by operators and later on closed above support at 26604.

Banknifty also look week below 26500 for 26419 and 26317 followed by 26198 and 26021 and and higher side resistance is at 26657/797!


Call Options Data


Maximum call open interest (OI) of 54.90 lakh contracts was at the 11,000 strike price, which will act as a crucial resistance level for the index in the June series.
This was followed by the 10,800 strike price, which now holds 44.58 lakh contracts in open interest, and 10,900, which has accumulated 44.40 lakh contracts in open interest.
Call writing was seen at the strike price of 10,800, which added 13.05 lakh contracts, followed by 10,900, which added 11.86 lakh contracts and 11,000, which added 7.32 lakh contracts.
Call unwinding was seen at the strike price of 11,200, which shed 2.74 lakh contracts, followed by 11,100, which shed 1.77 lakh contracts.


Put Options data


Maximum put open interest of 46.95 lakh contracts was seen at the 10,700 strike price, which will act as a crucial base for the index in June series.

This was followed by the 10,600 strike price, which now holds 37.97 lakh contracts in open interest, and the 10,200 strike price, which has now accumulated 29.07 lakh contracts in open interest.

There was hardly any Put writing seen.

Put unwinding was seen at the strike price of 10,700, which shed 10.11 lakh contracts, followed by 10,800 which shed 5.72 lakh contracts and 10,600, which shed 4.93 lakh contracts.


BUY& SELL






Monday, 14 May 2018

Trade Set Up for the next week. (14th May_18th May)



Nifty has given a closed on Friday at bullish note. 

After a bearish Wednesday and Thursday,  As expected nifty has broken the resistance of 10780-10800 and closed above that which suggest market is bullish but cautious before Karnataka election outcome. 

Election survey suggesting BJP as largest party with a hung parliament. 

 And any change in outcome will certainly put pressure on long positions. so stay cautious before election outcome on your new potions.
Nifty has major support now at 10780 and 10700 breaking below can slip to 10600-10550 where as on higher side 10900-11000 will work as major resistance level where nifty has consolidated for a long time before braking down.
Though the fact is index has closed on bullish note but apart of financial and metal sector market have given side of Bears and seen heavy sell off and profit booking across specially in Mid cap and small cap.

Bank nifty closed at 26410 and having next target of 26540-650 with support of 26200-26000!
And closing above 26540 will make gate open for 26900 -700( Major Resistance)

Call underwriting  on 11000 call at highest level followed by 10900 & 10800 call. call writing also seen addition in OI at 11200 and 11100 with addition of 2.4L and 1.83 contract.
call unwinding been seen at 10900 followed by 10700 which shed 3.60 lakh  and 2.45 Lakh contract.
Maximum open interest in put options was seen at a strike price of 10,600, in which 63.18 lakh contracts been added till date. This could be a crucial resistance level for the index in May series.
Max accumulation been seen at 10600 followed by 10700 and hardly any unwinding been seen at put on any level.

FIIs been continuously seller in the market whereas  DIIs and retailers are net buyer in the market.

Happy Trading

As observe by EMMKAY_RA