F&O Cues

F&O Cues Updated.  

Wishing all the Associates of this Blog a Very Happy, Prosperous and Rewarding New Year, 2014

Follow the Channel

Nifty NR4/7/14 Day implication for tomorrow

Nifty Spot
 Buy > 6,319  Target 6,381  (Inverted H&S Target is 6350-6360, shown earlier)
 Sell < 6,285  Target 6,223 

If range expansion happens tomorrow. Watch the new day channel top for resistance and support.

3 P.M

Last Hour!

Entering the last hour. Caution below 6348 Nifty Future and 6291 Nifty Spot.

My bias as of now seeing the price action.

Since Nifty has touched 6343 Level once my bet would be for 6355-6368 (Week T1) for Tomorrow / Day After  if range expands and in that case Nifty Future should get 6402 +.

Nifty Day likely new channel

Update

An NR4/NR7/N14 Day in NIfty today as of now in Nifty and not in  Banknifty.

1 P.M

Nifty Update

Nifty Spot will start weakening  below 6291 and can be sold for a target of 6259 with 6311 as stop loss. These days major moves are normally in First or last 1 Hour.

Nifty Spot 1 Min Chart

Positionally not breaking 6275 from here, Nifty Spot should give 6350-6360 on the upside. Longs for 6350-6360 may only be attempted if price moves above 6315 and survives.

Update

Price has a triangular behaviour and hence buying and selling  at Supports and / Resistances should be worthwhile. Holding onto positions will not yield much.

Nifty 30 Min Chart

If Nifty Starts closing above 6322 it may get strength.

10 A.M

Update

Bias will be negative below 6348 and sell on rises may be the option.

Update

Please keep Nifty Future 6348 Sustaining / Holding as Stop Loss for Long positions.

Call

Buying Nifty Future and  CE6400 is advisable for 6400 and 104 Respectively.
CMP 6354 Nifty Future
CMP 80.5  6400 CE.

Update

Stocks and Commodities Blog Updated.

Pre-Market Levels for 31st December (Tuesday), 2013 Working

Despite Correction Nifty is yet to break the Daily rising channel and close below the Low of 
previous day, which confirms the bias change (Presently Up).

Nifty Future Sustaining above 6353-6358 will be good for Nifty for some NAV Popup attempts 
Though the allowable limits as par derivatives data (See F&O cues) for

Nifty Future is [6265 - 6343] +/- 10/15 Points and
Nifty spot   is [6119 - 6349] +/- 10/15 Points

So, since Nifty spot is allowed to attempt 6359-6364, price of Nifty future can even go above 
the above expected upper limit of 6343+15 = 6358. There has been an approximate premium of 
40-60 points maintained between Nifty Future as against Nifty Spot. Considering the same Nifty 
Future may attempt to see between 6359 + 40 = 6399 / 6359 + 60 = 6419 or 6364 +40 = 6404 /
6364 + 60 = 6424.

Today is an important day as it is the Last day of Month, Year and NAV Popup day for the Mutual Funds. Considering the same Nifty may try to latch on to it's gains and Nifty Future may even attempt 6399-6424 Level.

Nifty Spot has Shocker Resistances between 6352-6362 (Very Difficult to cross and sustain above this week)
Nifty Future
6416-6424       Sell All
6393-6402       Strong Resistance (6402 Important Weekly Level)
6368-6375       Resistance
6354-6359       Remain Long Above
6348                Support
6327-6334       Strong Support
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Bankifty Spot has Shocker Resistances between 11771 -11938 (Very Difficult to cross and sustain above this week)

Banknifty Future
11770                Sell All 
11738                Month Important Target
11633-11662     Strong Resistance
11535                Strength Above and will Support if price goes above
11446-11458     Remain Long Above
11364-11375     Buy All