Thursday, May 26, 2011

Nifty 26 May 2011 - Expiry Chart

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Nifty May 2011 - Monthly Chart


A test of 5284 levels on the expiry day of the May series

We are entering into the expiry day of May series and throughout this series right from day one, it has been bears maintaining the upperhand.

Throughout the series PCR has remained below 1 and also made a low of 0.75 levels signalling a strong bearish bias.

On the expiry day the expectation is that Nifty will break the 5300 barrier and go for a test of 5284 levels before closing near to 5300 levels.

Resistance levels : 5369, 5387

Support levels : 5329, 5284

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Tuesday, May 24, 2011

Monday, May 23, 2011

Friday, May 20, 2011

Friday, May 13, 2011

Thursday, May 12, 2011

Nifty 12 May 2011

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Tight range consolidation continues without market taking any direction...

For the past 5 sessions, markets have been hovering in a tight range around 5550 levels.

PCR is hovering at 0.88 and throughout the series it has been well below 1, which favours bears to a good extent and the view is maintained that any move below 5508 will see market testing 5393 levels in the near term.

Resistance levels : 5586, 5623, 5654

Support levels : 5532, 5508, 5462

Daywise Turnover

May 2011
DateIndex FuturesStock FuturesIndex OptionsStock OptionsTotal
No. of contractsTurnover
(Rs. cr.)
No. of contractsTurnover
(Rs. cr.)
No. of contractsTurnover
(Rs. cr.)
Put CallRatioNo. of contractsNotional Turnover
(Rs. cr.)
Put CallRatioNo. of contractsTurnover
(Rs. cr.)
Put CallRatio

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Wednesday, May 11, 2011

Another neutral session between 5500 and 5600. Time to move out of range...

Yesterday again markets were hovering between 5500 and 5600 levels and went for another neutral close at 5541 levels.

5600 calls added 12 lakhs in open interest and some unwinding was seen in 5500 puts. PCR is at 0.91.

Any move below 5508 levels will pull down markets heavily till 5393 levels.

Resistance levels : 5586, 5623, 5654

Support levels : 5532, 5508, 5462

-Happy Trading

Tuesday, May 10, 2011

Markets expected to turn weak this week after a neutral beginning...

After hovering around the previous session close, markets closed on a neutral note yesterday around 5550 levels.

5508 proved to be a strong support yesterday during intraday. 5500 puts saw a huge increase in OI, but still the PCR at 0.81 is favouring bears to a good extent.

A break of 5508 levels is expected soon and a test of 5393 levels is on cards. A move above 5623 levels is not foreseen as of now and and move above that is a good point to enter into short trades.

The key levels remain the same.

Resistance levels : 5586, 5623, 5654

Support levels : 5535, 5508, 5462

-Happy Trading

Monday, May 9, 2011

A recovery till 5600 levels and a consolidation ...

After the eight consecutive session of weakness, markets on friday rallied back after testing a low of 5472 levels.

The correction has been sharp and the market is expected to recover till 5586 and 5623 levels and then consolidate around that level for sometime before making the next strong move.

PCR remaining at 0.80 is still favoring bears to a large extent. Looking at the open interest data, market has still not set any directional bias from this level and it is better to wait and watch for a while for the markets to make the next move.

As of now 5508 level is a strong support and any break of that will see markets correcting till 5393 levels in the short term.

Resistance levels : 5586, 5623, 5654

Support levels : 5535, 5508, 5462

-Happy Trading

Thursday, May 5, 2011

Wednesday, May 4, 2011

Tuesday, May 3, 2011

Monday, May 2, 2011