NIFTY FUTURE-
Review and Trading Analysis-27th June
NIFTY FUT
– Firstly well isn’t market following a pattern
pretty much in line with what we discussed. Refer to our blog charts previously
posted. We had marked that the downside targets are near 5580 zones. NIFTY
swing wise just marked that low for two consecutive sessions but yet managed to
hold onto it on a closing basis. It will be critical to watch out how markets
trade around that level and it can provide a very low risk trade opportunity on
either side for swing traders. But advise would be to watch out for the expiry
to pass by until we see a convincing move.
Since we
are looking at expiry the volatility provides some fun trading ideas specially
keeping options positions in mind. So let us review what are the option as of
today.
The best
way to analyze option data is just to have a look at the option accumulation chart.
One picture gives in multiple data points in a single view.
 |
| June 2013 series-Option OI Data-26th June |
<charts
attached at www.powertrades.blogspot.com>
So the
most evident thing with this chart is the huge CE accumulation at 5700 zones .
Also we see significant and distributed PE accumulation at 5500 and 5600
levels. Now our expiry strategy needs to be treat this accumulation has to hold
for tomorrow and use price point analysis to find out potential trading zones
Based on
this our boundary points more or less are 5570-80 zones on the downside and
5700 on the upside. So to take a low risk entry one should look at sharp pull
back trades in rise with stops above 5700 levels and also pull back on upside
to trade for a close above 5600 levels. Probably with 5550 as stops. This trade
can be taken in sharp dips.
Dear
remember expiry day is risky hence risk lower than your usual quantity. Even if
you don’t get favorable levels its perfectly fine to stay out and watch. Trade
safe
Trading levels
for the day:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5620-25 sustaining above which it will target 5655,5675
POWERTRADE TREND DECIDER OF THE DAY ------- 5575-80
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5550-55
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5530,5505
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5620-25 sustaining above which it will target 5655,5675
POWERTRADE TREND DECIDER OF THE DAY ------- 5575-80
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5550-55
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5530,5505
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