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YESTERDAY N FUT COULD NOT CROSS THE RESISTANCE INDICATED BY US @ 6127. BELOW 6120 CLEAR CUT SHORT SIGNAL WAS SENT BY SMS ON YOUR MOBILE.
BELOW 6087 AS INDICATED IN NEWSLETTER FREE FALL TO 6047 HAPPENED. JUST 2 POINTS BELOW CRITICAL LEVEL 6049, MENTIONED IN THE NEWSLETTER. IT WAS ALSO NEAR 50% FIB LEVEL. NOW NEXT FIB LEVEL IS PLACED @ 6112 WHICH NEEDS TO BE CROSSED WITH STRENTH.
TODAY FIRST THING YOU MAY LIKE TO LOOK @ 6097 FOR ANY STRENGTH.
STRONG CROSSOVER ABOVE 6097 MAY LEAD TO 6118/6121.WATCH CLOSELY NOW.
IS THE N FUT ABLE TO CROSS 6121 OR GETS REJECTED @ 6121 OR BEFORE 6121. IF GETS REJECTED THEN SUBSEQUENT DIP BELOW 6095 MAY BE EARLY SIGN OF TERMINATION OF STRENGTH. SUCH A SCENARIO WILL HAVE INITIAL TARGET 6073.IF SUSTAINS BELOW 6073 FOR 5 MINUTES ANY TIME DURING THE DAY ,IT CAN EASILY TRIGGER DIP TOWARDS 6051/6038/6024.
SUPPOSE UNABLE TO CROSS 6097 AND BREAKS 6073 ,EXPECT WEAKNESS AS SHOWN ABOVE.
ANYWAYS SUSTAINING ABOVE 6142 WITH STRENGTH IS REQUIRED FOR ANY MORE STRENGTH.
THUS ANYTIME DURING THE DAY CROSSOVER ABOVE +VE. THEN LET THE MARKET TELL US WHERE IT WANTS TO STOP. YOU HAVE THE LEVELS.
ANYTIME DURING THE DAY SUSTAINING BELOW 6073 MEANS TROUBLE FOR BULLS.
ANYTIME CROSSOVER ABOVE 6142 WITH STRENGTH, CAUTION IN SHORTS.
BEFORE INITIATING A TRADE FIRST WATCH IF THE PARTICULAR LEVEL IS ABLE TO SUSTAIN AT LEAST FOR 5 MINUTES.
Nifty volatility Index rose to 17.88 from 17.03, increased by 4.99%.
Total Nifty futures shed 0.20mn shares in open interest.
Call open interest for Jan series added 3.08mn shares in Open Interest.
Put open interest for Jan series added 0.27mn shares in Open Interest.
Nifty put call ratio of open interest now stands at 1.31 vs 1.371.
Nifty put call ratio of volume now stands at 1.12 vs 1.11.
Maximum open interest in calls for Jan series is at 6,200 strike prices.
Maximum open interest in Puts for Jan series is at 6,000 strike prices.
Nifty Jan 6,200 Call added 1.54mn shares in open interest.
Nifty Jan 6,200 Put shed 0.31mn shares in open interest.
Strategies Long Dr.Reddy Jan Future
In range of Rs1712 - 1714 for the target price of Rs1738 with a stop loss placed at Rs1699.
Lot size: 250
Remarks: Net maximum profit of Rs6,500 and net maximum loss of Rs3,750.
Long ITC Jan Future
In range of Rs180-181 for the target price of Rs186 with a stop loss placed at Rs177.
Lot size: 2000
Remarks: Net maximum profit of Rs12,000 and net maximum loss of Rs6,000.
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