i have been maintaining view that we will have pullbacks upto 5550 and 5800 and intermediate to long term investors should use this opportunity to exit their delivery holdings at a much better price at those lvls.
accordingly we had movement till 5550 and more upto 5600 in short term and need consistent closings above those so nifty can head upto that channel upper resistance near 5800 as shown in above spot nifty chart.
dii fii net cash figures:
in the futures segment looks like net short covering in nifty futures of about 2500 contracts(net buy Rs.1104 crores) and in stock futures of about 5000(net buy Rs.472 crores) contracts by the fii's in yday's trading session. put writing at 5400 and 5500 strikes and call option buying of 5700 and 5800 strikes is also seen.
so the combined cash buying by both dii's and largely by fiii's coupled with short covering saw nifty suddenly gaining about 3.5% in yesterday's trading session.
4 comments:
Good morning :)
Thanks abhay . Resembling 2009 March?? as everybody was waiting for a low but mkt went up :P
just a pullback from eod oversold lvls sujatha, and it can be substantial
Sooooooo practical :) i have long way to go for this
have a good day
thank you, what the price tells me
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