Nifty : Stats & Views

This thread is dedicated to all the nifty followers. It will be a view of technical aspect of nifty and how things are developing. My contribution on this font will be mainly with Market profile, Ichimuku and few charts that i follow as confirmation.

As usual everyone who tracks nifty is welcome to comment and place their view.

Price broke the trendline but failed to sustain above it. Its return below the trendline signifies that the last buyers of this market have already entered the market and current buyers are not willing to buy high with the hope of selling higher. Absence of fresh buyers has stalled the price.

5575 had acted as very strong supply zone in recent past and might now become the best stop loss for fresh buyers. If everyone believes this to be a correction in a up trend, then its a matter of comfort zone with known support zone. Would the big players buy here with a 225 points stop loss or wait for a deeper correction to the monthly value level of 5677 for fresh entry.

5884 is the weekly value and a close above this lvl will be treated as an end to the correction and fresh buying will resume.

As of now, assumption is price will move to KS (5677) or stall till KS moves to price....

We can see a shift in value area in the last 3 days on the south side. Monday's intraday trade had a value area between 5800 and 5826 with a close at the value area low.

5770,5611,5550,5506 are all virgin point of control and are likely targets in this corrective phase. The gap between 5770 and 5611 is very wide and that means an acceleration of price if 5770 is not sustained.

If we manage to open above 5826 tomorrow, then 5870 is the first target and after than it'll be a resumption of the up trend if a close above 5891(VAH) is secured.

there is a small gap in volume between 5798 and 5750 and a huge gap between 5682 and 5528.

trend decider on cci points to 5702 and 5719 as levels of support.

Corrective cycle has started in the past 3 days.

CCI 20 is all poised for a sling shot that can thrust price upwards with good change in momentum. It'll be fast and furious if we start the up cycle with price closing above 5894...

One micro look at eod chart using 30 min tf shows that volume-at-price wise, we are at the bottom of a trading range. either price breaks down from here completely and finds solace at a lower level or we should head higher from here.

One thing is for sure... i wont attempt a long as long at ST pop doesnt climb above -100 at least. Stop loss prescribed by CCI for my shorts is 5825.95.

Price action says no more shorts above 5876...so that is the level to watch for me...

FII hold 35.61% of the total gross market position in the derivative segment as on Apr 11, 2011


Fii have sold about 1950 cr on the index futures. Their current OI stands at 16,273 cr.


Monday was the first net sell figure on the cash segment. They sold about 691 cr on the cash segment while DII bot about 263 cr.

In the call options, highest OI is at
6000 call followed by
5900 call and then
5800 call...


In the puts highest OI is at
5700 put followed by
5500 put and then
5800 put....

Kind of highlights the importance of 5700 as a level to watch...

5740 is the trend decider for the day...
expected gap down....
first 5 min will decide the trend for the whole day....

a close above 5867 is end of the down cycle on EOD....
stop loss at days low
target 127% of the recent rise.... i.e. 6128

Superb bro pls start a thread on stocks too one day for people like me