F&O snapshot of NIFTY.
As on 12th December 2008 NIFTY Dec Future closed at 2921.70 (Rs. 0.35 PREMIUM) with a turnover of Rs. 12414.25 Crores, Adds 369100 shares(0.97%) in open interest pushing the open interest to 38578976 shares. This shows that some steam is left with the bulls and bears will have to show more strength to win the battle.
As on 12th December 2008 NIFTY Dec Future closed at 2921.70 (Rs. 0.35 PREMIUM) with a turnover of Rs. 12414.25 Crores, Adds 369100 shares(0.97%) in open interest pushing the open interest to 38578976 shares. This shows that some steam is left with the bulls and bears will have to show more strength to win the battle.
In this week Nifty has moved up 7.62%, a very good move indeed.
But since last two days not able to move further up nor did closed at lower levels.
But since last two days not able to move further up nor did closed at lower levels.
A deep cut is expected in US market due to Senate denying the auto bail out package. We may feel the ripple effect. Though today despite of this news our market was resilient and staged smart recovery from day lows. With longs, it is the time to be very cautious. Our market absorbed the negative IP data today. Same thing happened previously and then after couple of sessions heavy selling was witnessed. It is not easy to predict about this time.
Looking at technical indicators of which I m fond of pondering with--
Stochastics fast and slow - telling to exit longs and initiate shorts.
ADX - converging back, telling to exit longs and initiate shorts.
RSI - Flattening out, a caution.
Ultimate Oscillator - losing steam.
CCI - Flattening out in overbought zone.
ROC - Drooping down, telling to exit longs.
Money Flow Index - Started a down tick, smart profit booking already started.
DPO - Flattened out - gaddi mein puncture ho gaya lagta hei.
Looking at technical indicators of which I m fond of pondering with--
Stochastics fast and slow - telling to exit longs and initiate shorts.
ADX - converging back, telling to exit longs and initiate shorts.
RSI - Flattening out, a caution.
Ultimate Oscillator - losing steam.
CCI - Flattening out in overbought zone.
ROC - Drooping down, telling to exit longs.
Money Flow Index - Started a down tick, smart profit booking already started.
DPO - Flattened out - gaddi mein puncture ho gaya lagta hei.
( I am taking a break, I am not sure when I will be able to update this blog, till then have a good week end )
