iCharts Discussions

[psalm]

Nikkei has closed at the highest point of the day...after the opposition leader asked for further easing.... ...that news has made the exporters selling Yen...and hence Nikkei has gone up ....at the same time, Hang Seng is trading around the lows of the day now....trading around a key area 21100-20900....a break below this range will give another 3 to 5% move on the downside, I feel....

[apka]

my long sl hit 5608 but VIX trgt hit 16-17.. VIX also should have fut n options

[psalm]

[apka]

[1] shorts added in nifty fut 12 lakh shares.

[2] 5600ce adds 16 lakh shares - total OI 40 lakh shares. 5700ce adds 19 lakh shares, total OI 70 lakh shares. 5800ce adds 12 lakh shares - total OI 96 lakh shares.

[3] 5500pe sheds 8 lakh shares - total OI 5 lakh shares. 5600pe sheds 1.25 lakh shares - total OI 80 lakh shares.5700pe sheds 5 lakh shares - total OI 50 lakh shares.

longs builds in 5900ce and 6000ce are shedding OI.

definate bearishness there.

[vinay28]

apka, pl post an update to this OI after eod, duly comparing with these figures

[psalm]

The range 5633-5643 has been acting as a good support earlier...now that we've broken below that range, it may act as a resistance....current rate is around 5627...watchout...

[apka]

[psalm]

[apka]

[1] nifty addition of 12 lakh fut has become shedding of 13 lakh shares.. EOD thats why it rose later -- short covering. total nifty fut OI has shrunk to 1.69cr shares for NOV.

[2] Option position is round about similar. 5500pe to 5900pe have shedded OI. 5600ce added 12 lakh shares, 5700ce added 17 lakh shares and 5800ce added 10 lakh shares. Most OI in calls is at 5800ce and in puts at 5600pe.

[vinay28]

thanks apka

[apka]

any idea where and if we can track FNO data of DOW and DAX on daily basis ?

[apka]

As per below chart, require friday's closing above 5608. A close below it breaks the closing basis rising weekly trendline. A break below it would mean nifty will need to consolidate and find a new channel.

Confusion in trend continues because:

[2] FNO suggests bearish build up, more writing in calls, and shedding of OI in puts. Even nifty fut shedded OI today after adding +12 lakh shares intraday, EOD it was -13 lakh shares. Total nifty OI dropped to a very low 1.69 cr shares.

[3] But, on the other hand DOW, DAX, EURO are having positive divergence built since last 10 days or so and have somewhat corrected 7-10%. Plus INR appreciated in the end today from 55 levels to 54.70-80. So, there is good chance world market starts recovering from tomorrow / next week.

[4] However, VIX after making weekly inverted hammers, has risen to 16-17 levels as expected and mostly calls are seeing premium in both stocks and nifty with good build up in calls. So, it would make sense to utilize the premium by creating a fall and eating it.

[vinay28]

apka, is 5608 correct on close basis?

[apka]

[vinay28]

whichever way I drew the chart, I wasn't getting it.