what is nifty future open interest 1.24 crores as per nseindia or 1.60 crores as per religare . any one can clarify pl ?
@Illango sir ,FII net sale -1072 cr n DII net buy 1074 cr. then who is the net sellers (retailers)
if nifty future open interest is 1.24 crores only, then limited downside and huge upside potential ts there.
This widespread global selloff is too early to write off bullish setup.....bank nifty has formed gravestone doji pattern today and do not concur with market topping out....we have rbi meet on Monday and will await for further evidence for any kind of larger correction....After a downtrend, or a pullback within an uptrend, or when it�s formed at the support, the appearance of Gravestone Doji could signal that a turning point is nearing (i.e. potential bullish reversal).
Good evening ilango sir and blogmates...A non technical obeservationTrying to take clue from open intrest range. july month expiry starting with max oi range of 7000-8000 a 1000 point range.august month start with 7300-8000 a 700 point range.now i am taking 60% (approx golden ratio) of both ranges ie for july it is 600 and for august it is 420.July month max oi 8000-600=7400(low made 7422)then a 400 point rally (7841)7800 is 80% from oi lower range August month max oi 7300+420=7720(high made 7717) Downside tgt 80% from upper range 8000-560=7440....???On the other hand 60% from current oi higher range 8000-420=7580 is to be watch as supportConclusion---Taking 7580 approx as pivot downside below 7580 is 7440(flat c in ilango sir chart)Holding 7580 approx 80% of oi range ie 560 point from lower range 7300+560=7860(brodening top upper boundary)
Dear vksoni can you calculate fr june too?i dont remember the oi range.
rashmi,i also not remember and searched too but not able to find.If anybody give the range it will be helpful.
kalyani ji u r right nifty OI is lowest
SirWhen you say larger 4th wave correction, do we take the rise from 5933 to 7841 as the 3rd wave ? If so what could be the target of this 4th wave ? Assuming a minimum of 38 %, it can reach 7100 approx. Can we expect this big fall ? Also, 3rd wave has taken 49 weeks approx. Can this fall take 19 weeks approx ? Pl pardon my ignorance and enlighten the readers with your views ? Thanks. SN
Sir, My apologies..3rd wave from 5933 to 7841 has taken 26 weeks approx and not 49 weeks. Hence can this 4th wave take 10 weeks approx and touch 7100 ?RegardsSN
Soniji for june 7000pe and 7600ce had highest oi
interesting...oi range 600(7000-7600)60%= 360max oi 7600-360=7240(low of june 7239)
Very interesting!!now lets see if 7580is respected or no
sir,pls check days high.@immortalI just checked credit policy is on 5th tue I think
RashmiLet me clear,Based on above observation weekness trigger at 7717(7300+420=7720)(Nothing new in it its golden trade of yesterday )now sell in retrace of fall from 7717 for minimum target of 7440.Which gets confirmed with break of 7580.
@vksoni, very interesting observation.So seems like 60% will act as support or resistance for opening day highest OI. Breaking either side can decide trend. For Aug month both support and resistance hit on 1st day. Lets see which way it breaks. Hope your analysis works which will be a great tool to our kitty
@Piyush, I also checked, Credit policy is on tuesday,5th Aug
Dear soniji its surprising to see how the golden period works on all matters be it oi or nifty levels.all the best
Dear soniji what is the time deadline you take for max oi
Natti ji,For time deadline i think more month and more data need to be analysed.Presently i taken just two month data.I think this type of strategy use by big players who write option.just a thaughtThey write option at 60% with sl of 80% of oi range.so mostly time factor is first 10 day of series coming in mind.
And presently i take oi range of first day of series.
July expiry first day max oi range 7000-8000Aug first day max oi range 7300-8000
Better read as time deadline for taken oi range is first 1-2 day of seriesAnd 60% lavel to be watched within first 10 day.
pardon me for getting the day wrong...but its the underlying event that has to be focus here to read the likely movement ahead next week...I am sure even an amateur chart reader can see a potential IH&S pattern on bank nifty...also, US markets yesterday have recovered from the lows and made a hammer pattern at 16500(Dow) suggesting a likely upward move next week..All these pattern needs further evidence before we conclude emergence of Larger correction or continuation of bullish setup.I am bearish on my bi-annual assessment of market outlook basis my below post...http://tradeinniftyonly.blogspot.in/2014/05/nifty-celebrates-event-with-huge-gain.html#more
Soni ji7240 BY WHAT TIME FRAME ? Would appreciate your views ...ThanksSN
SN ji,Cant understand your questionIf you asking about 7440 instead of 7240.When it comes Only market will tell when it come or not come.Concide these lavel with regular ta .and rest follow the market as sir said managing trades is daily business.
Soniji ,i am sure coz i sell options of the strike which has highest oi depending on market conditions.