But first let's have a look at the Nifty.
A choppy day within the 5408-5465 zone or neutral land.
Value slipped a bit lower today, only a tad and once again we saw the seller emerge at 5460. But a test of 5411 was bought and took the market all the way to 5460.
We maintain that we will be bearish only when 5408-5411 is taken out on volumes, but the upward momentum will return only when 5465 is taken out. Incidentally profile gave us this level first on July 23 right here in this post. Till then let's play this bracket.
Here is also a chart of the consolidated profile for this expiry :
5382 is what shows up as the POC and should be defended in the next two days.
For the Bank Nifty lovers, here is a chart of the profile today :
The larger value area shows the presence of larger TF participants. Notice the bounce from 9940 levels which itself is got a lot a value region lows.There will be good trade opportunities on this chart tomorrow.
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5 comments:
Hi Viren,
Your chart are more readable since VAH/POC/VAL levels being displayed. But AFL downloaded from MP class room section is not displaying levels with while back ground we are mis-reading levels.
Hence requesting you to link for AFL codes of your chart posted above.
Bose
Excellent post Shai!
Here's my few cents on options/futures OI:
http://3.bp.blogspot.com/_xQfPkpQXjMc/TE8TAsyzb3I/AAAAAAAAArA/aOQlYZkHhEQ/s1600/OI_analysis.GIF
From options action:
1. 5500 pre expiry is beyond imagination with 1.2Cr Calls vs 16L puts
2. 5400 had confusing action 7.8L 5400CEs covered looked fine but almost 9L puts covered too! Fake move? Profit booking since decay mostly over?
Nifty Futures:
July: 2Cr OI down 22% (58L shares cut from OI)
Aug: 1.5Cr OI up 63% (58L shares added to OI)
Nifty futures Total OI (Jun+Jul) on D-2 in June was 3.7Cr and now its 3.5Cr
The difference is due to 19L shares that got squared off day before yesterday. As of now I assume it was profit booking.
Banknifty Futures:
Jul: 14L OI down 28% (5.5L shares cut from OI)
Aug: 14.3L OI up 81% (6.5L shares added to OI)
Banknifty Total OI (Jun+Jul) on D-2 of June expiry was 23L now its 28.3L (July+Aug)
Good obs Girish again.
Though 5500 CE of July has been strong, I feel that many who have written are in profit now and will not hesitate to close out.If you see the aug Oi at the same strike, the conviction is missing at the strike. the rollovers are absent too.
We still have 2 days, so let's watch that strike.
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New post done.
Chandra,
Change the parameters of your Ami s/w and you will get charts like mine.
The afl is the same.
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New post.
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