Nifty and Bank Nifty Daily Charts with Twiggs money flow indicator (Smoothed version) indcates that a possible turn around from the bottom and shorter term bullishness could continue despite slowdown in IIP numbers. India’s industrial released post friday trading indicates that output fell the steepest in 3 months by 1.9% in October from 0.7% expansion in September. If any negative jerks in the market due to those news factors could last only for a very short duration.
Markets shown stability despite poor Nikkei PMI figures and RBI maintains status, which is perceived as negative sentiment for the markets.Daily Sentiments for both Nifty and Bank Nifty remains positive. However US Markets are hitting all time high and the global sentiment market mood is all setup before the FED announcement begin next week on 13th-14th Dec 2016.
Nifty Open Interest Lookup
At this point Nifty put writers are very much active at 8000PE zone since the start of the series and the call writers for this series are not confident yet however 8300CE, 8400CE, 8500CE holds higher open interest on the call side but not significant though. Which in turn implies that market range on the upperside could be extended anywhere between 8300-8500 zone. On the downside 8000PE writers are strong in protecting the 8000 zone.
India VIX Daily Charts
Volatility in the market is inching down and currently trading at 15 handle.
Participation OI indicates that FII’s are increasing their net longs in Index futures and Retails traders are increasing their net shorts