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You are here: Home / Futures and Options / Nifty and Bank Nifty Future March Overview – V

Nifty and Bank Nifty Future March Overview – V

March 18, 2014 by Rajandran 1 Comment

Nifty Hourly Charts
Nifty Hourly

Last friday Nifty and Bank Nifty march futures turned to positional sell mode on the hourly charts currently the resistance zone comes arround 6559 and 12269 respectively. Reverse your position to buy mode if the resistance zone breaks on the hourly charts.

Bank Nifty Hourly Charts
Bank Nifty Hourly

 

Nifty Open Interest Lookup

PE writers

So far PE writers are dominating the march series right from the start of the series. However the open interest built up shows weaker position as there is no strong open interest built up. 6200PE and 6400PE holds almost equal amount of open interest. And PE writers are not much confident as February 2014 option series.

Weekly Fundamental Wrapup

India’s wholesale-price index weakened to a nine-month low of +4.68% on year in February from +5.05% in January and came in below consensus of +4.9%.

The falling WPI adds to declining CPI as the the Reserve Bank of India focuses on reducing inflation, with the RBI hiking interest rates three times since September.

“We need to see a sustained drop in inflation for the central bank to start cutting rates,” strategist Tirthankar Patnaik said before the WPI report. “We don’t expect the RBI to change its stance in a hurry as price pressures remain in the economy.”

Indian consumer inflation fell for the third consecutive month, dropping to 8.1% on year in February from 8.79% in January and coming in below consensus of 8.3%.

The decline comes as the Reserve Bank of India considers setting a CPI target after having raised interest rates three times since September.

Meanwhile, industrial output surprisingly grew for the first time in four months, expanding 0.1% in January vs expectations for a contraction of 0.9%.

Related Readings and Observations

  • Nifty and Bank Nifty Future March Overview – VINifty and Bank Nifty Future March Overview – VI Nifty options shows moderate amount of open interest built-up across the strike prices. 6200PE, 6400PE, 6500PE holds the higher open interest for this series however the amount of open […]
  • Nifty and Bank Nifty Future March Overview – IVNifty and Bank Nifty Future March Overview – IV Nifty and Bank Nifty futures turned to hourly charts on 4th march onwards currently the support zone comes around 6499 and 11925 respectively. Reverse the position to sell mode if the […]
  • Nifty and Bank Nifty Future March Overview – IIINifty and Bank Nifty Future March Overview – III Nifty and Bank Nifty turned to hourly charts on 4th march onwards currently the support zone comes around 6253 and 10837 respectively. Reverse the position to sell mode if the support zone […]
  • Nifty and Bank Nifty Future March Overview – IINifty and Bank Nifty Future March Overview – II Nifty March future on the hourly charts is in positional buy mode since the interim budget 2014 event and currently the support zone comes near 6237. Reverse your position to positional […]
  • Nifty and Bank Nifty Trend and Sentiment Analysis – December OutlookNifty and Bank Nifty Trend and Sentiment Analysis – December Outlook Nifty and Bank Nifty weekly sentiment maintains positive despite weakness in the market. Last week DII continued their relentless buying mode despite weakness in the market and with the […]
  • Nifty and Bank Nifty Futures Sentimental Analysis – October ExpiryNifty and Bank Nifty Futures Sentimental Analysis – October Expiry The recent move in Nifty Futures are clearly driven by Short term players. Nifty Futures positive sentiment continues however sooner or later we can expect the trend to reverse when the […]

Filed Under: Futures and Options Tagged With: Bank Nifty futures, Nifty Futures, Nifty Options, Open Interest.Nifty March Future

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. Tharmmarajhan M V says

    March 30, 2014 at 7:14 am

    Please update hourly eod chart on daily basis. I want to follow this mainly for nifty trading.

    Reply

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