Indeks Nifty 50Singkat
NIFTY for 14th Nov
The bad news that I wrote about yesterday did have its effect and both Nifty and banknifty collapsed. That Nifty was going to fall was almost written on wall but weakness in banknifty extended its range. So Nifty executed a bearish engulfing candle. Lets look at usual data.
1) FII & DII data: Like for past , I think 9 or 10 sessions, FIIs were Net buyers by 585 Crs and DIIs were Net Sellers by 809 Crs. It is this heavy volume (almost double than that of FIIs) which fuelled market fall.If you look at absolute buy/Sell figures, DII figures are in the range of 4000 Crs whereas FII figures are in the range of 6500 Crs. But the net selling did tilt the balance in favour of bears.
2) Option chain: On PUT side, which provides support, there is unwinding on all strikes on and above 11800. Highest unwinding is at 11900 (-6.75 lakhs) where it was highest total OI yesterday. Such was the fear that a lot of Put writers exited 11900 strike. Now the highest total OI ( 16.42 lakhs) is at 11800 and somewhat ok put addition ( 1.33 lakhs) is at 11750. Frankly there is no reliable support as per OC data because Nifty can go below 11750 also. On the CALL side however, there is impressive Call writing on strikes 11800 to 12100. Highest total OI (38 lakhs) and highest fresh Call writing (12.79 lakhs) is at 12000. At 11950, we see Call writing worth 12.62 lakhs. So for tomorrow, even 11950 is good resistance.
3) Charts : Nifty executed as a strong red candle with slightly higher high but much lower low in the process forming a bearish engulfing pattern. The fall also gave birth to a decent Selling area which I have marked on 15 min chart. As far as support is concerned, I can not see any good support nearby. So if Nifty continues to fall, the next stop can only be at 11500. Only word of caution- tomorrow being expiry, anything can happen so take this short trade in the morning half. if Nifty approaches this area by around 1.30 pm/ 2.00 pm, take it with strict stop-loss because on expiry day there is every chance of this trade going wrong.
All the best. Happy trading.
1) FII & DII data: Like for past , I think 9 or 10 sessions, FIIs were Net buyers by 585 Crs and DIIs were Net Sellers by 809 Crs. It is this heavy volume (almost double than that of FIIs) which fuelled market fall.If you look at absolute buy/Sell figures, DII figures are in the range of 4000 Crs whereas FII figures are in the range of 6500 Crs. But the net selling did tilt the balance in favour of bears.
2) Option chain: On PUT side, which provides support, there is unwinding on all strikes on and above 11800. Highest unwinding is at 11900 (-6.75 lakhs) where it was highest total OI yesterday. Such was the fear that a lot of Put writers exited 11900 strike. Now the highest total OI ( 16.42 lakhs) is at 11800 and somewhat ok put addition ( 1.33 lakhs) is at 11750. Frankly there is no reliable support as per OC data because Nifty can go below 11750 also. On the CALL side however, there is impressive Call writing on strikes 11800 to 12100. Highest total OI (38 lakhs) and highest fresh Call writing (12.79 lakhs) is at 12000. At 11950, we see Call writing worth 12.62 lakhs. So for tomorrow, even 11950 is good resistance.
3) Charts : Nifty executed as a strong red candle with slightly higher high but much lower low in the process forming a bearish engulfing pattern. The fall also gave birth to a decent Selling area which I have marked on 15 min chart. As far as support is concerned, I can not see any good support nearby. So if Nifty continues to fall, the next stop can only be at 11500. Only word of caution- tomorrow being expiry, anything can happen so take this short trade in the morning half. if Nifty approaches this area by around 1.30 pm/ 2.00 pm, take it with strict stop-loss because on expiry day there is every chance of this trade going wrong.
All the best. Happy trading.
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