iCharts Discussions

[vinay28]

yes though I feel it may be a few months away

[SP50]

Bank Nifty has to break down significantly for Nifty to go down substantially from here.

[psalm]

[saumya12]

Nifty formed double bottom today.

[apka]

[apka]

[vinay28]

yesterday's low

[apka]

hmm ok.

so strange except 5600ce ... 5500ce-6000ce are shedding OI.

and 5700-6000pe are shedding OI.

[vinay28]

while nifty can go down to as much as 5400 (5445) considering winter session of parliament, europe issues, west asia tension, etc., I won't be surprised if there is a sudden surge. e.g. a mere 40-60 point rise tmrw and then huge gap up on thursday and then all the way to 5730. Or tmrw itself could be a big bullish candle.

I feel the present trend may just a be reaction now that corporate results are behind us.

[apka]

these background things like debt auction etc we are not aware off and are affecting the INR. INR has gone from 55.55 -> 51.42 -> 55.15 ... and nifty is still above breakout levels..

[saumya12]

Yes, You may be right Vinay.
I have seen a prediction, which says that nifty may move to 5777 by friday or by monday. The fellow use EW and A+.
Will write more day after tomorrow, if the prediction goes true.

[apka]

Nifty fut again shedded OI by 7 lakh shares. Total OI near 140 lakhs now.. everyday OI is shrinking (like the touch me not flower).

its going to be boring n lacklusture nov expiry

[apka]

..

[apka]

Sebi discontinues minifty


----
http://www.sebi.gov.in/cms/sebi_data/attachdocs/1353409729402.pdf

Sub: Mini derivative (Futures & Options) contract on Index (Sensex & Nifty)

1. SEBI vide Circular No. SEBI/DNPD/Cir-33/2007 dated December 27, 2007 had permitted Stock Exchanges to introduce mini derivative contract on Index (Sensex and Nifty) with a minimum contract size of INR 1 lakh.

2. With a view to ensure that small/retail investors are not attracted towards derivatives segment, it has now been decided to discontinue mini derivative contracts on Index (Sensex and Nifty).

3. Exchanges are directed to take necessary action to give effect to this circular. No fresh mini derivatives contracts shall be issued. However, the existing unexpired contracts may be permitted to trade till expiry and new strikes may also be introduced in the existing contract months. Further, Exchanges are also directed to give due notice to the market in this regard.

4. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

5. This circular is available on SEBI website at www.sebi.gov.in under the category “Derivatives- Circulars”.

[vinay28]

Today's candle is an "outside" bar and, if today's lower low was a false break then with oversold stochastic, we may see a reversal from tmrw. Bullish above 5593 with SL a bit below 5548.