1 Share Market - Nifty Weekly News Letter


Instrument TypeUnderlyingExpiry DateOption TypeStrike PriceMarket Lot
 FUTIDX NIFTY 30 Aug 2012 50

Last Traded Price  5382.35Average Price  5389.53
Open Price  5385.05Underlying Value  5366.3
High Price  5423.60Number of Contracts Traded  241363
Low Price  5351.55Turn Over in Rs. (Lacs)  650416.56
Previous Close  5382.00Open Intrest  25609100
Change From Previous Close  0.35Change Open Interest  -230400.00
% Change From Previous Close  0.01% Change  -0.89

On weekly basis Nifty (Spot) closed at 5,366.30 (0.9%), Bank Nifty closed at 10417.1 (0.6%), CNXIT closed at 5980.65 (1.3%).

On 18th August 2012, Nifty opened at 5368.60, moved up and made its day high at 5399.95 after that it moved down and made its low at 5341.70, Even after this selling pressure Nifty (spot) managed to remained above 5350 and closed at 5366.30 which is near to its day open.

Nifty : On weekly basis Nifty’s highest closing was on Tuesday at 5380. Index was unable to capitalise on this gain and despite several attempts did not breach 5400 however it closed with gains of close to a percent. The index was supported by Reliance, M&M, Axis Bank, Tata Motors and technology heavyweights while weakness was seen in ITC and metals. 

VIX : Ivestor’s fear gauge, continued its declining pattern and closed negative for the fifth consecutive week. This is the longest negative weekly closing and Volatility index is likely to remain within the range of 14-16, suggesting the Nifty may continue its range bound move.

Options : On the Put side, major activity was seen in strikes of 5400 and 5300 Put. At present, the 5300 Put commands OI of over 9 million shares, making this level a critical support. Among Call strikes, OTM activity continued in 5500 and 5600 Call strike. Writing is visible at 5300PE of august series, while on call side 5500CE which has highest open interest on call side is also witnessing writing. Nifty is facing stiff resistance at 5420 levels, while that for Bank Nifty is at 10600 levels. Nifty range for the week might be between 5260-5380.

Key Break Out Levels for Nifty : 

Buy Nifty(Spot) above 5380 T1: 5414 T2: 5451 T3: 5488 T4: 5525 T5: 5562 T6: 5600 SL: 5260
Sell Nifty(Spot) below 5260 T1: 5225 T2: 5189 T3: 5153 T4: 5117 T5: 5081 T6: 5046 SL: 5380

Indian stock indices have now risen for three successive weeks by steady FII inflows and amid expectations of some reforms going through. A surprise drop in inflation for July also raised hopes of a possible rate cut at next month’s RBI policy meeting. Data on indirect tax receipts and SEBI’s measures to boost the capital markets also had a positive rub-off on the markets. However, data on exports and imports continues to be grim, serving as a cruel reminder of challenges emanating from the overseas markets. The release of the controversial CAG reports in the Parliament also re-ignited fears of a wider political backlash. Technically, the ongoing liquidity-powered up trend may continue for a while before there is any meaningful pullback. Much will hinge on the way global markets unfold. With the US economy showing resilience, the focus will be on the eurozone and China. The current global risk-on trade has been fueled by hopes of fresh policy stimulus from both these regions. Any disappointment on that front could lead to a reversal.

Nifty: The Nifty may trade with a positive bias till it holds above 5260. Immediate resistance for the Nifty lies at 5400. A move above these levels may trigger fresh momentum towards 5451, 5488+

Bank Nifty: The Bank Nifty is likely to find immediate support at 10200. Till the time it holds this level, it is likely to trade in the range of 10200-10800 with a positive bias. A move below 10200 may increase the selling pressure.

















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1 comments:

  1. Nifty Spot on Buy active today and currently in 40 points profit.

    ReplyDelete

Thanks for giving your valuable inputs, TRENDGURUS

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