NIFTY VIEW 12-08-2013
TECHNICAL ANALYSIS
NIFTY O 5552 L 5542 H 5602 C 5590 AVG 5575 (LAST WEEK AVG 5618 & MONTH 5725) LAST TWO DAYS 5603 WAS TWO TIME TOP.AFTER EXP FROM 26 JULY TILL 8 AUG NIFTY COMPLITED 8% SWING. THIS MONTH IS LONG TILL 29 AUG.AS REVIEW PAST LONG MONTH DATA INDEX RETRACE 50% (IE 5745)
NIFTY O 5552 L 5542 H 5602 C 5590 AVG 5575 (LAST WEEK AVG 5618 & MONTH 5725) LAST TWO DAYS 5603 WAS TWO TIME TOP.AFTER EXP FROM 26 JULY TILL 8 AUG NIFTY COMPLITED 8% SWING. THIS MONTH IS LONG TILL 29 AUG.AS REVIEW PAST LONG MONTH DATA INDEX RETRACE 50% (IE 5745)
DATA REFERENCE
AS ON 08-08-2013 FII OPEN INTEREST IS 414
IT MEANS FRESH LONG POSITION ADD TO OI 14000.& SOLD 29000 OPTION & OPTION IS PUT.
CONCLUSION
FII IS NET ADDED LONG & CRATE SHORT IN PUT OPTION.
WE WILL TAKE BULLISH VIEW TO MARKET
WE CAN GO LONG WITH SL OF 5565 AND IF NIFTY MAINTAIN ABOVE 5618 THEN MORE UP MOVE TILL 5725 (IS MONTH AVG)
IF MARKET NOT ABLE TO CROSS BEYOND 5618 & DOWN BELOW 5545 THEN AGAIN DIFFICULT TIME FOR UP MOVE,
NIFTY PE (PRICE TO EARNING) @ 16.5,,,, HISTORICALLY THIS VALUE IS FAIR VALUE. IN PAST 20 DEC 2011 NIFTY 4544 @ 16.5 PE & SAME @ 23 MAY 2012 NIFTY 4835 16.5 PE. MARKET GIVEN WAIT AGE TO THIS PRICE WE CAN ANTICIPATE FAIR VALUE IN TODAY MARKET PRICE. IF NIFTY BREACH 16 PE THEN WE HAVE TO RE WORK FOR NEW LEVELS .
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