Hello Friends,
Nifty after witnessing highly volatile session managed to close at intra day higher levels. Due to expiry as expected the Volatility has increased. Today the last Thursday of the month & March Contracts to expire, Volumes in last few trading sessions has rose & almost touches 90k Crores which is very high at just 40-50% of prices.
Fii OI has rose in just last few trading sessions. Whats Cooking with so high volumes ? at just half the prices. Previous data of market shows that when ever markets falls or prices come down significantly the participation of people increases which leads to so high volumes. The same case we witnessed in many markets like Dow, Nasdaq etccc. Just imagine what volumes markets can do now if we test again 12000 - 15000 odd levels. Our Stats says that if markets just rise by 2000 to 3000 points from here then we may see all time high volumes as we use to see in Jan 2008 or at 20000 / 21000 levels.
NifTiee Intra day levels:
Close : 2984
Supports : 2950 / 2925 / 2888
Resistances : 3010 / 3030 / 3080
Today if markets manage to close above 3030 then we may see higher levels of 3080 or 3131. There is enough strength in the markets as since last two days its taking good support around 2929 levels. Markets are up almost up 20% from recent lows and many Index based stocks are up by 20 to 40%. To manage the indices the stocks which have not participated in the rally or have underperformed indices in this run may participate in the next rally.
All trading long positions can held with revised stop loss of 2888 on closing basis & if markets closes above 3030 then move the revised stop loss to 2929 to Ride the Volatility in Short Term.
PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 25 MARCH 2009
FII +349
DII +9
FII (DERIVATIVES ) +341
INDEX FUTURES +333
INDEX OPTIONS +48
STOCK FUTURES -80
STOCK OPTIONS +40
Good Day
Regards,
Allies Fin Serve
Mumbai, India
Website : http://www.alliesfin.blogspot.com/
