Wednesday, October 13, 2010

Mid Week Review

Nifty has broken out of range and closed above the recent high today.

- 5d Volume Profile indicates trading above the previous sellers resistance of 6185.
This level can be treated as SAR going ahead or 6090 level as a strict s/l for Positional longs.

- Option Analysis shows profit booking in 5800 and 6000 puts and strong built up in 6200 puts adding whooping 150% O.I., whereas the calls have to be covered at this level. Max. % call addition was at 6400 calls.
6200-6400 may be the new trading range ahead if 6200 holds.

- FII's were buyers in the dips below 6100 levels and today were net plus in excess of 2000 cr.

- The Indian Rupee further strengthened today ,indicating more bullishness for markets if holds below the level shown.

Check the relation of INR v/s USD and NIFTY/SENSEX here:

All indicators are showing short term bullishness .Be prepared for the target of apprx. 6345 and further ,but do remember the s/l or SAR levels in this euphoria.


Cinu said...

thnq, interesting times

manu said...

dangerous times

mo k said...

Level 1... 6175 6185 :)
hats off to you aarvee!

6160 was the dip.
Lets watch further.
Thanks for your continuing efforts.

AAR VEE said...

Hi mok,

Choppiness has crept in . frankly was not expecting market to close below 6200 level.Mkts have re-entered the 6070-6230 range with 6185 as imp light.
USD has broken further,FII's remain buyer ,and options show bullishness above 6000 levels.