Sunday, August 22, 2010

Weekend Analysis

The short term indicators are in overbought region with no signs of reversal.This may keep the trend up till Aug. series expiry.

Volume Profile:
The 10d chart shows good support at 5460 levels .If Nifty trades near this levels in next couple of days ,it may be bought till expiry.

The Channel movement that Nifty is trading since Oct '09 may offer Resistance at top trendline near 5600 levels.

Option analysis:
Max. buildup of O.I. in Calls is at 5600 strike (capping upside) and that in Puts is at 5300 with approx. equal O.I. at 5400 strike (capping downside). 5500 put is adding O.I.  consistently and is more than that at 5500 call strike (bullish).

Probabale Aug series expiry should be above 5460 levels and may be above 5500 levels but below 5600 mark.

Note:The  probable EW count of the upmove since 4786, may have mistakes .Pl. comment to correct it.


r m said...

Thanks RV!

manu said...

u dont knw bhai hw much i wait for the whole weekend for this..

u knw u r far better than ur frnds who r too popular n Bollywood..

ur Oi data ..i second..what a view..:)
on ew plz take it as a "B" larger view..till ur fav "C" may bcm abc correction..if 5455 holds..

AAR VEE said...

Thanks rm

Thanks manu

U should be happy since the Nifty has breached and trading above 5475,it negates the bleak bearish scenario given by me keeping this level as bench mark for upward cap .
The correction will come but may be an opportunity to buy for longterm.

learning EW :-)

mo k said...

yeah, things will be on the front burner till the expiry.
thanks RV :)

Sujatha said...

thanks aar vee :)