1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures - Bac

[jamit_05]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

6100 CE has increased well in OI... and 60 CE has reduced...
60 and 59 PE hv increased.

All cues towards upside breakout.

 

[healthraj]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

Those who went Long around 5988 should book partial profit and change their Stoploss to Cost.

 

[prabhsingh]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

6100 CE has increased well in OI... and 60 CE has reduced...
60 and 59 PE hv increased.

All cues towards upside breakout.

There seems to be very bleak changes of Market going beyond 6036-6056 levels.6000CE are not showing any interest in squaring off their position.67L is total OI and out of that only 2L have squared off their position which is just 3%.

 

[jamit_05]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

There seems to be very bleak changes of Market going beyond 6036-6056 levels.6000CE are not showing any interest in squaring off their position.67L is total OI and out of that only 2L have squared off their position which is just 3%.

Dramatic progress in 59 and 60 PE... at total of 30L OI added today!! Good enough to take NF another 50 odd points up.

 

[prabhsingh]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

Dramatic progress in 59 and 60 PE... at total of 30L OI added today!! Good enough to take NF another 50 odd points up.

Agree thats one side of the coin.We need to such dramatic progress happening on the unwinding of the 60CE as well which does not seems to be happening.Agree we might see 30-40 points more jump but that seems to be max it can stretch.

 

[healthraj]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

Since 5981 was the low for today, We should expect at least 60 points. So you can aim for 6041.

 

[healthraj]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

There seems to be very bleak changes of Market going beyond 6036-6056 levels.6000CE are not showing any interest in squaring off their position.67L is total OI and out of that only 2L have squared off their position which is just 3%.

Yes it coincides with my logic that most of the OI positions are SELL. The positions getting squared OFF are the LONG positions taken at 6000CE. So there is no pressure on 6000CE (On the SELL side). The Pressure will be felt only when 6050 breaks.

The best thing todo is better to be cautious and book profits at Regular intervals. This month it was very volatile and so anything can happen.
The MAX pain level which was pointing to 5900 Yesterday has shifted to 6000 today.

 

[prabhsingh]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

Lets look at more aspect as well which is Volumes.If we have a look at Volume for 6000 CE its more as compared to 6000PE even though there is just a fraction of 6000CE which has squared off.This means that buyers are keen to write 6000CE from the ones who are squaring off their position as compared to 6000PE where there is less interest.Just my assumption might be completely wrong.

 

[prabhsingh]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

Yes it coincides with my logic that most of the OI positions are SELL. The positions getting squared OFF are the LONG positions taken at 6000CE. So there is no pressure on 6000CE (On the SELL side). The Pressure will be felt only when 6050 breaks.

The best thing todo is better to be cautious and book profits at Regular intervals. This month it was very volatile and so anything can happen.
The MAX pain level which was pointing to 5900 Yesterday has shifted to 6000 today.

But then Raj why are these big shots not squaring off their 5800 and 5900CE which also has huge OI built up.Does not that sound scary? Who knows it could be 100-200 points downside may be next week then?

 

[healthraj]

Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -

We have to see if anything Dramatic happens in CE.

So Net 3L positions squared off in CE.

5800CE - 1L
5900CE - 4.5L
6000CE - 2.5L

If in 6000CE "CHG IN OI" if we see a Large negative number then we can confirm it to be a UPSide breakout. Otherwise nothing to worry