Nifty selling continued even today, opened gap down and started to drift below 8200 and kept on going till it found some bottom at 8094 and FII cash figures is the proof for it.
Nifty is comfortably now staying below previous weeks 5 Low ema (8232) and also below its filter. So a bounce towards developing low ema is not ruled out, which is at present 8186 which is also today VAH zone. Tomorrow's price action at or around 8186 should be noted.
VIX shot up 4% today bringing more volatility to our markets, closed at 17.50. The range is getting more interesting, 8000 which is the strong support as per Option table and vix is hinting at 7786---8485..
Broader market was very bad even today with 1292 declines to 224 advances.
FII -- Covering their longs and taking shorts continued today too, but todays addition is less compared to yesterday :) In options they are continuing to buy puts, so any rise will not sustain.
Clients -- They dint cover the longs which they took yesterday, instead they have added some more and they are covering their huge shorts which they have accumulated during friday and monday. So looks like, they are waiting for the bounce to unload this.
DII -- Added some more longs and today they have covered their shorts.. so looking for a bounce?
PRO -- These guys are just adding in both sides from past three days with more bias on downside.
So, now clearly FII's are turning out to be bears for sometime. selling in cash and in futures, clearly indicates a trending moves.. Clients are holding on to longs, either they will unload it at any bounce or are they looking for some trending upmove ahead? will need to watch this. so some kind of technical bounce is expected from tomorrow.
Happy trading
Nifty is comfortably now staying below previous weeks 5 Low ema (8232) and also below its filter. So a bounce towards developing low ema is not ruled out, which is at present 8186 which is also today VAH zone. Tomorrow's price action at or around 8186 should be noted.
VIX shot up 4% today bringing more volatility to our markets, closed at 17.50. The range is getting more interesting, 8000 which is the strong support as per Option table and vix is hinting at 7786---8485..
Broader market was very bad even today with 1292 declines to 224 advances.
FII -- Covering their longs and taking shorts continued today too, but todays addition is less compared to yesterday :) In options they are continuing to buy puts, so any rise will not sustain.
Clients -- They dint cover the longs which they took yesterday, instead they have added some more and they are covering their huge shorts which they have accumulated during friday and monday. So looks like, they are waiting for the bounce to unload this.
DII -- Added some more longs and today they have covered their shorts.. so looking for a bounce?
PRO -- These guys are just adding in both sides from past three days with more bias on downside.
So, now clearly FII's are turning out to be bears for sometime. selling in cash and in futures, clearly indicates a trending moves.. Clients are holding on to longs, either they will unload it at any bounce or are they looking for some trending upmove ahead? will need to watch this. so some kind of technical bounce is expected from tomorrow.
Happy trading
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