CUES FOR NIFTY ON 24.01.14

NIFTY READY FOR BIG MOVE - TIGHTEN YOUR SEAT BELT 

There is a major chance of Nifty may goes up to 6424 as a breakout on chart but every rise is a chance to make a short position in market. There is a –ve divergence on RSI on daily chart. Perhaps before market takes a healthy correction, it tries to get out all weak bears from market.

As per Hourly Chart Nifty Fut Jan’14 is on buy side with Stop loss of 6328. It is better to take a short position below 6320. In coming day’s market become more volatile due to News events.

Real Power & Strength above 6374 level …. Above that unexpected level up to 6424.  If market traded below 6318 for 30 min than Bear will take control on market.

 OPEN INTREST DEVELOPMENT IN NIFTY CALL / PUT

CALL: 

6400 CALL            : 5,414,900 (+ 505,550)

6500 CALL             : 5,476,350 (+ 395,800)

PUT:

6300 PUT              : 7,164,200 (+ 878,950) HIGHEST

6200 PUT              : 6,339,300 ( - 397,650)

INDEX PUT CALL RATIO (PCR)          :  1.06

INDIA VIX                                      :15.58 -0.27 (-1.70%)

Cash Segment:

FII’s:  + 433.6 Crores

DII’s:  - 393.68 Crores

Derivative Segment:

Index Futures:  + 123.8 Crores

Index Options:  - 923.23 Crores

Stock Futures: – 96.18 Crores

Stock Options:  - 9.57 Crores

Data is taken from the NSE Website

Overnight US Market close in red Dow 16,197.35 ( -175.99) (-1.07%)

Asian Market Mix………

SGX 6322 (-40) is Down.