I think Nifty futures topped out at 3405

[rvlv]

Hi Gents,

It looks though tech analysis and charts show us ahead of time what is going to happen. but there is a time delay for the process to evolve.
we thought nifty futures topped out at 3405.
This was on 28aug2006

Look today how the futures nifty shot up and up towards 3444.
People start now thinking it will move up still.
But it wont . Because it topped out on 30aug2006

NOW TOMORROW THE EXPIRY DRAMA WILL FOLLOW.
-------------------------------------
see mY friend Rajeev says about 31aug2006

3400 and 3450 has the highest Open interest... expect this months nifty to expire very close to 3400..

http://breakouttrading.blogspot.com/2006/06/nse-information.html

the expirty drama starts..!!
------------------------------------

rvlv

 

[bhatia_ash]

Hi Gents,

It looks though tech analysis and charts show us ahead of time what is going to happen. but there is a time delay for the process to evolve.
we thought nifty futures topped out at 3405.
This was on 28aug2006

Look today how the futures nifty shot up and up towards 3444.
People start now thinking it will move up still.
But it wont . Because it topped out on 30aug2006

NOW TOMORROW THE EXPIRY DRAMA WILL FOLLOW.
-------------------------------------
see mY friend Rajeev says about 31aug2006

3400 and 3450 has the highest Open interest... expect this months nifty to expire very close to 3400..

http://breakouttrading.blogspot.com/2006/06/nse-information.html

the expirty drama starts..!!
------------------------------------

rvlv

Hi RVLV, I can see where this logic comes from, but you also have to remember that expiries are a double edged sword, I have been following and trading European and American Index Futures for the past one and a half years, and during their expiries, these markets can shoot up, if already in an upward trading market. It is just something worth noting, that's all. The reason for this is not hard to follow, institutional investors must take positions in the new contract month, if they are bullish and arbitrage artists do not let the expiring months go down..

Regards,

AB
http://marketsindia.blogspot.com

 

[tanewbie]

Nifty options TOP 15 in terms of Open interest

PE3300NIFTY08 - 2,373,400
PE3100NIFTY08 - 2,154,900
PE3200NIFTY08 - 2,018,500
CE3300NIFTY08 - 1,901,300
PE3000NIFTY08 - 1,605,300
CE3400NIFTY08 - 1,567,500
PE2900NIFTY08 - 1,400,200
CE3200NIFTY08 - 1,365,100
PE3400NIFTY08 - 1,194,000
CE3450NIFTY08 - 1,146,200
CE3400NIFTY09 - 841,100
CE3100NIFTY08 - 773,800
PE3300NIFTY09 - 770,600
PE3400NIFTY09 - 761,400
PE3150NIFTY08 - 744,600