Trading on 18-02-11

Today was a breakout day above the 2d high & 20dema  to target near 5560 level.
 

Next Is What ??

Let's try and analyze tomorrow and rest of the Week's trading with the available data.

Where will Nifty Expire ???

1.NIFTY HAS BECOME WEAK IN 5D VOL.PROFILE-

2.NIFTY HAS BROKEN DOWN RISING WEDGE AND TRENDLINE BOTH-

3.OPTIONS O.I./ PCR &ROLLOVER SHOWS THAT-

A. UPSIDE CAP AT 5500 AND DOWNSIDE AT 5300, AS AT START OF THE WEEK

B. NO. OF CALLS ,71.76 LACS, HAVE EXCEEDED THE PUTS ,60LACS, AT THE STRIKE OF 5400 ,GIVING A LIKELY EXPIRY BELOW 5400

C. THE PUT CALL RATIO IS AT 1.07 ,I.E. ON BEARISH SIDE ,BUT IT IS VERY VOLATILE SINCE LAST WEEK ,SHOWING  INDESICION

D. ROLLOVER IN AUGUST FUTURES SINCE LAST THREE DAYS IS BETWEEN THE SMALL RANGE OF 5468-5395 ,THIS RANGE AMOUNTS TO 75% OF TOTAL R.O. OF 2.1 CR. NIFTY FUTURE .

LIKELY RANGE TOMORROW-

KEEPING IN MIND THE ATR(14) OF APPROX. 60 AND ABOVE OBSERVATIONS, NIFTY MAY TRADE BETWEEN 5360-5440, ANY RANGE BREAK WILL BE QUITE VOLATILE

MY BIAS IS FOR A LIKELY EXPIRY BETWEEN 5385-5415.

     

INTRADAY

SUPPORT AND RESISTANCE

THIS IS A 5D VOL. PROFILE CHART FOR SHORT TERM TRADING.

TAKE SOME PROFITS

30MIN AND HRLY INDICATORS ARE GETTING HEATED ,BOOK SOME PROFITS WITH AN EYE ON THEM,LIKELY TARGETS 5478-85 NS& ABOVE