1. Finally we saw bulls coming back to support the index from lower levels and despite bad overnight global cues, Nifty managed to close flat. Options table got some more bear food (Calls @5500-5700) despite the bounce. This options table is now looking similar to the first couple of days of December series looked after that 600+ point post Diwali fall.
2. 5700 is the resistance - but still not enough calls written there (yet)
3. 5600 is the 50-50 level as per the options table
4. 5500 is the support and strong support exists at 5400
5. PCR dipped from 1.31 to 1.27 due to all the call writing @5500-5700
Nifty futures:
2Cr OI flat -- Some OI added in March series though
Banknifty futures:
12.2L OI up 13% - 1.4L shares added! This is some real OI addition. Needs to be seen if there is a bigger bounce that materializes. Even though Nifty has made a lower low compared to mid Jan fall, Banknifty yesterday didn't go all the way to Jan 17th low of around 10380. SBI/ICICI seem to the relatively strong stocks in the market now. Remains to be seen if they will help in getting some bounce.
Stocks to watch for bounce today:
1. PFC
2. RECLTD
3. SREINFRA
4. KTKBANK
Posts
3 comments:
Thanks Girish!
Attention Data Crunchers / Backtest enthusiasts / Amibroker learners
Amibroker format data (updated 31 Jan 2011) uploaded at following links:
http://rapidshare.com/files/445476146/Intraday_31Jan2011.zip
http://rapidshare.com/files/445479848/EOD_31jan2011.zip
For amibroker learners - Just unzip the file on your drive. Suppose the zip file is unzipped in folder C:\EOD_31Jan2011, now open amibroker, click on 'File' > 'Open Database', in the
'Browse for Folder' dialogue box, select C:\EOD_31Jan2011 and click on OK. That is all!
Best regards.
Thanks a lot RM!
Thank you Girish.
& thanks RM.
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