F&O Cues

F&O Cues Updated.

Nifty Spot EOD Chart

Nifty at a crucial juncture diametric f-leg should go below 6102(Nifty Spot) minimum and derivatives position is suggesting Nifty Future will remain only weak below 6200 (difficult to sustain below too).  Some news may be pending because market could have discounted the bad news of IIP or Inflation by today. Market made lower low till last hour.

Word of Caution

Slight Caution before the weekend. Exit all positions since Nifty Future may be closing below 6200.  Play safe till monday?

3 P.M

Nifty Spot Chart with Oscilators and MA's

Nifty Spot testing the support of 200 MA at 6172 now.

2 P.M

Update

Market generally makes one sick and tired and often disgusted before a trend is changed. Patience is the key. If it doesn't happen today we will wait it out for Monday.

Nifty Spot Chart Intraday

Nifty Attempting to breakout above the falling wedge. Should target 6230 and 6270 thereafter.

1 P.M

Add caption

Rampant Speculation in Banknifty

                                        Positions reversed in Banknifty ?

Observation

Market will do things at it's own pace and wish. We can see an upmove is coming, whether today or on Monday is the question. Nifty future has less chance to sustain below 6200. Positional Longs safe. With the kind of open interest Nifty has developed, the  range may remain 6200-6400 for Nifty Future.  For bigger trending moves we need reduction of open interest considerably.

Reply to the questions

Ravi, longs are quite safe here or probably in the closing hour after 2.30 P.M.  One should be prepared for minor whipsaws. Raman, it is based on the observation and analysis of the entire series derivatives data of the FII's.

Update

Nifty and Banknifty both have done their minimum expected Weekly target points already as of now, today. The hourly oscillators are quite oversold. We can expect an upmove in the late half of the day, near closing hours.

12 Noon

Observation.

Market is looking to give money only to the people who have money these days.  No Liveraged positions are likely to make money because most of the moves are taking place either towards very early (First 15 Mins) or Last hour or 30 Mins. Hence there are only 2 possible trades either at 9.15 A.M or 2.30-3 P.M! Any comments ?

Observation

Seeing the derivatives data it may be unlikely for Nifty Future to sustain below 6200 this month.

11 A.M

Nifty Future

Nifty Future must see 6244-6252 today

Intraday Activity Seen

 There has been a sudden interest and activity in Banknifty 12000 Call Area. Some postion building for 12000 (in Next Month?) Banknifty won't be bad it seems.

10 A.M

Nifty Spot Daily Chart

                       Market has reached a channel support and all depends on this channel support holding.

Add caption

Pre-Market Levels for Nifty and Banknifty Futures - 13th Dec, 2013 working

Nifty Future

6315                 Fair Value - Near
6306                 Sell All
6288-6298        Stiff Resistance / Sell Zone
6282                 Fair Value - Series
6244-6252       Strong Resistance / Weak below / Strength Above
6227                 Key for the Day
6219                 Weak below
6204-6213       Very Strong Support / Weakness  below / Buy Zone
6181-6188       Buy Zone
6169                 Strong Support

Bank Nifty Future

12013-12038      Sell All
11788-11845     Strong Resistance
11796                 Fair Value - Near
11700-11743     Resistance / Weak Below / Strong above
12600-11669     Big Support / Resistance
11583                 Fair Value - Series
11503-11563     Good Support
11431-11457     Strong Support
11341-11355     Stronger Support
11214-11238     Big Support / Weak Below