-Happy Tradingwww.tripleint.com
Showing posts with label Nov2010Series. Show all posts
Showing posts with label Nov2010Series. Show all posts
Thursday, November 25, 2010
A neutral day to end the series in which bears took control in the expiry week...
Yesterday again 5985 levels proved to be a strong resistance and bears took complete control from there on and pushed Nifty towards the low of the series around 5826.
Overall markets have opened strong for the day and is hovering near to 5900 levels. Strong resistance exists at 5934 and it is unlikely for markets to break the barrier for the day.
On the bottom side, 5864 is providing support. So it is likely that markets will hover between the levels of 5864 and 5934 for most of the day before bearishness sets in.
There might be a final bearish move for the day, with ONGC correcting significantly.
Resistance levels : 5895, 5906, 5934
Support levels :
5864, 5834, 5786
Wednesday, November 24, 2010
A neutral day in the penultimate session for November series
Bears took control initially in yesterday's session and pushed markets to test the key level of 5826 mentioned in http://tripleint.blogspot.com/2010/11/bears-to-take-control-from-here-on-till.html which also happened to be the day's low.
The swift up move which came in the later half of the session yesterday is giving a neutral stance in the penultimate session for the series.
There were increase seen in 5900 and 6000 calls which at this stage again favors bears to a good extent. PCR is almost neutral at 1.08.
Resistance levels : 5964, 5985, 6020
Support levels :
5857, 5826, 5786
Tuesday, November 23, 2010
Bears to take control after a break of 5950 levels...
Yesterday markets saw a strong bounce and a close above 6000 levels and bears might take control from today for this expiry if a break of 5950 levels happens initially.
Options saw huge accumulation in near strike puts and unwinding in ITM calls. There was a wild shift during intraday in implied volatility swinging in favour of bulls and bears alternatively.
Any break of 5985 levels would initially favour bears to a large extent today and a subsequent break of 5950 should see a strong correction towards the levels of 5876.
Friday, November 19, 2010
Bears to take control from here on till expiry of this series...
On tuesday, where it was written markets will make a move to determine the short term trend, bears took complete control and pushed markets to a sub 6000 close for the first time in this series.
Yesterday markets saw testing further lower support of 5907 and then bounce back towards 6000 levels.
Options data saw unwinding in 6000 and higher strike puts and strong increase in OI of 5900 puts. There were also some increase seen in 5900 call and 6200 calls.
Overall due to the increase seen in 5900 puts, there is a perceived view that markets will get strong support at that level. It is likely that markets will break 5900 support before the close of this series and bears might push markets further low to levels of 5826. The implied volatility in puts in very less when compared to the calls and this could be one reason for bears to push markets lower breaking support levels.
Resistance levels : 6031, 6076, 6101
Support levels : 5957, 5905, 5885
Subscribe to:
Posts (Atom)
