RSI (14 Days): 49.99
Support: 4720, 4614
Resistance: 4889, 4950
Nifty is in down trend (from 5th Feb.) with targets of 4740**, 4600, 4460.
The down trend will ‘terminate’ above 4951.
Nifty is in uptrend (from 11th Feb.) with targets of 4880, 4900, 4960.
The uptrend will ‘terminate’ below 4748.
- Nifty February future discount converted in to premium of 2 points so cost of carry increased. (Bullish)
- Nifty open interest decreased by 13 lacs suggests short covering. (Total OI now at 3.18 cr)
- Nifty calls shed 17 lacs and puts added 19 lacs in open interest. (Bullish)
- Nifty open interest put-call ratio is at 1.05.
- 4800 puts had open interest of 61 lacs ( +8%) and 5000 calls had open interest of 60 lacs (-7%), so 4800 and 5000 will be important levels to watch for.
- India VIX closed at 28.81, decreased by 5.7% suggests stability. (Bullish)
- In Nifty stocks, advance-decline ratio is 44/6. (Bullish)
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