Nifty Opened with Gap up and came out of the trading range immediately breaking 8300. That was the first signs of bullish movement. Later on went on consolidating between 8322-8282 range for good part of the day only to break out at last hour and closed positive at 8373.65 with gain of 111.30 points.
Last week close gave us a weekly "pause" in the downtrend and today the start of the week is very positive with Weekly trend moving to "Bullish" but remember last week we had also had one more signal with "Sell of Rise" So keep a strict TSL to lock your profits on the way.
Broader Market was positive with 978 Advances and 479 Declines for the day. Today Nifty closed above its 200 Day moving average. Now Bulls will need two more closing above this to continue this momentum, else Bears will use the rallies to sell.
Now Lets Look at how Open interest is aligned:
FII -- Covered their Longs and Shorts in the index and in Options front, they are still Negative
DII -- Very Small Addition in Longs and Shorts are intact.
Clients -- Very Interesting Move with Addition of Shorts and huge PUTS build up and they have covered their longs in calls too.
PRO -- Addition on long side in Futures and Index Options too have tilted to longs.
Now are the "Clients" on the wrong side or the other 3? Will be cleared with answers mostly by tomorrow with "tuesday factor"
Happy Trading
Last week close gave us a weekly "pause" in the downtrend and today the start of the week is very positive with Weekly trend moving to "Bullish" but remember last week we had also had one more signal with "Sell of Rise" So keep a strict TSL to lock your profits on the way.
Broader Market was positive with 978 Advances and 479 Declines for the day. Today Nifty closed above its 200 Day moving average. Now Bulls will need two more closing above this to continue this momentum, else Bears will use the rallies to sell.
Now Lets Look at how Open interest is aligned:
FII -- Covered their Longs and Shorts in the index and in Options front, they are still Negative
DII -- Very Small Addition in Longs and Shorts are intact.
Clients -- Very Interesting Move with Addition of Shorts and huge PUTS build up and they have covered their longs in calls too.
PRO -- Addition on long side in Futures and Index Options too have tilted to longs.
Now are the "Clients" on the wrong side or the other 3? Will be cleared with answers mostly by tomorrow with "tuesday factor"
Happy Trading
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