Stock/ Index

NIFTY 50

Long term trend

Downward sloping but flat - inconclusive

Short term trend

Upward sloping, spot price above EMA

Bollinger band

Spot price on the upper channel of the bollinger band

Oscillator 2

Bullish

Oscillator 3

Strong positive cross over, bullish signal

Closing price (Spot price)

10,876.75

Change from previous day

0.17%

Nifty future premium (december expiry)

+ 38.20

Current position bias

Short bias

Maximum Open interest

Puts of 10,200 / 10,500 / 10,700/ 11,000 Calls of 10,700/ 10,900 / 11,000 / 11,500

 

Conclusion

  1. The GDP numbers released post the market close on friday has been weak and other domestic data has been weak.
  2. Expect that commentary from G20 is positive. Expect the market to open with a gap up.
  3. Undertone is positive but not a place to buy Nifty future market
  4. There are a lot of events lined up, hence, market will look for direction, it is felt that the markets are expecting positives from the events ahead.
  5. Open interest shows that markets are expecting a volatile month
  6. Time to stand aside and wait for further signal, if you want to take a position and not stand aside then can examine:
  7. Selling 10,500 PE - CMP - 78
  8. Buying Nifty Future - CMP - 10,915 and selling (to hedge) 10,900 CE - CMP – 200

 

Disclaimer: The views expressed herein are purely personal and basis experience and not a recommendation to buy or sell. We are not SEBI registered investment advisors or research analysts and these are positions taken in personal capacity's

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