AXIS - SBI - ICICI - TCS ANALYSIS FOR 18/07/12

LAST HOPE FOR BULLS @ 1012

TRADING BELOW 1024....BEARS TRY TO HIT  1016 AND 1012.

STRONG SUPPORT @ 1012

BELOW 1012....NEXT TARGET MAY BE 1006.

SUPPOSE PRICE CAN TRADE AND SUSTAIN ABOVE  1030...BULLS TRY TO TOUCH  1035 AND 1040 LEVELS

ABOVE 1040....NEXT TARGET @ 1044

TRADING BELOW 2200.....WILL TAKE TO 2185 - 2182 LEVELS.

THEREAFTER BEARS TARGETS MAY BE 2178 AND 2171

STRONG SUPPORT @ 2178 AND 21271 LEVELS

LAST CLOSE @ 2199

TRADING ABOVE 2200....RESISTANCE @ 2216 AND 2223.

IF BULLS CAN CROSSOVER 2223....WILL TAKE TO 2230 AND 2236 LEVELS.

SUPPOSE BEARS CLOSE BELOW 2170....THEN ULTIMATE TARGET MAY BE...

2133  ?????

TRADE WITH LEVELS ONLY

ABOVE 923....NEXT TARGETS MAY BE 932 - 935 LEVELS

 STIFF RESISTANCE @ 937

TRADING BELOW 922....WILL TAKE TO 917 AND 912 LEVELS.

BELOW 912....WE CAN SEE FREE FALL UP TO 898...

LAST CLOSE @ 1186

LAST HOPE FOR BULLS @ 1170

NIFTY FUTURE STRATEGY FOR 16/07/12

LAST CLOSE @ 5241

LAST FRIDAY INDICATED.....IF PRICE CAN TRADE AND SUSTAIN ABOVE 5250....WILL TAKE TO 5272 - 5280 LEVELS AND BELOW 5248....NEXT TARGET MAY BE 5228-5220 LEVELS.

HIT HIGH 5277

HIT LOW 5228.50

TODAY...WHAT TO EXPECT?

TRADE ABOVE 5242....NEXT TARGET MAY BE 5250 - 5263 LEVELS.

THEREAFTER....5272 AND 5280 LEVELS.

BELOW 5240...MAY TOUCH 5225 - 5215 LEVELS.

THEN SUPPORT @ 5203 AND 5190

STRONG SUPPORT @ 5185

STIFF RESISTANCE @ 5280 - 5289 LEVELS.

TCS - ICICI - AXIS - SBI ANALYSIS FOR 16/07/12

TRADING BELOW 1249.....WILL TAKE TO 1243 - 1239 LEVELS.

THEREAFTER 1235 

CLOSING BELOW 1240....BEARS MAY TRY TO HIT 1219 VERY SOON.

STRONG SUPPORT @ 1238

SUPPOSE TRADING ABOVE 1252....NEXT TARGET MAY BE 1259 AND 1264

CROSSOVER 1264.....WILL TEST 1270

LAST FRIDAY INDICATED....ABOVE 1050....TRY TO HIT 1063 AND SUPPOSE TRADE BELOW  1050...CAN SEE SLIDE UPTO 1035 AND 1031

HIT HIGH 1062

HIT LOW 1031

TODAY, WHAT TO EXPECT..???

STRONG SUPPORT @ 1025

IF BULLS CAN TRADE ABOVE 1039.....THEN TRY TO HIT 1043 AND 1049

CROSSOVER 1049...WILL TAKE TO 1060

BELOW 1035....NEXT SUPPORT @ 1025 AND 1016

THEREAFTER TARGET MAY BE  1010

FRIDAY WRITTEN....ABOVE 2222...WILL TAKE TO  2235 AND 2239 LEVELS AND IF TRADE BELOW 2220....MAY LEAD TO 2192 AND 2186 LEVELS.

MADE HIGH 2234

MADE LOW 2171

TODAY, WHAT TO EXPECT..???

TRADE ABOVE 2180...WILL KISS 2191- 2195 LEVELS....THEREAFTER 2204 AND 2212

BELOW 2178....SUPPORT @ 2171 AND 2167

STRONG SUPPORT @ 2167

BELOW 2167....BEARS TRY TO HIT 2160 AND 2150

CLOSING BELOW 2167....ULTIMATE TARGET MAY BE 2135....2130 LEVELS..????

LAST FRIDAY WRITTEN.....ABOVE 931....NEXT TARGET MAY 935 AND 938 AND BELOW 928.....TAKE TO 922

MADE HIGH 936

LOW 923

TODAY.....IF PRICE CAN TRADE AND SUSTAIN ABOVE 926...WILL TOUCH 930 - 935 LEVELS.

CROSSOVER 935... NEXT TARGET MAY BE 938 AND 940.

BELOW 926...TARGET MAY HIT 922 AND 912

THEREAFTER 896

STRONG SUPPORT @ 922 AND 912

STIFF RESISTANCE @ 945

CLOSING BELOW 926....THEN ULTIMATE TARGET 910 IN COMING DAYS.?????

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OPEN INTEREST

OPEN INTEREST

•       It is one of the foremost tools for confirming trends and forecasting trend reversals in the futures market.

•       Open interest is defined as the total number of outstanding futures or options contracts that have not been exercised, closed or expired. OI thus is the total number of open contracts of a security in the market. It represents the total number of all long and short contracts of a security in the market on any given day.

•        It applies to the futures and options markets but not to stocks.

     Each open transaction has a buyer and a seller, but for calculation of open interest, only one side of the   contract is counted.

•       OI falls and rises only when a new contract is added or deleted,Thus

•       Open interest rises when one  long buyer and one corresponding short seller enter the market, and

•       Open interest falls when one long buyer and one corresponding short seller close their positions,

•       OI provides an indication as regards the liquidity of a particular contract or market. High levels of OI signal a fair amount of liquidity while a low level of OI signifies lack of liquidity in the market.

•        Open interest rising along with prices is a bullish indicator that an uptrend is in progress and is likely to be sustained. It shows that new money is entering the market. - 


    Falling open interest and rising prices is a bearish indicator, suggesting that the rise is being caused by short sellers covering their positions. The upmove is unlikely to be sustained because new buyers are not entering the market.

•       Open interest in a sideways market can suggest a breakout   in either direction.

•       A rise in open interest in a falling market suggests that a downtrend is in place. New money is entering the market through short sellers. - 


    When both open interest and prices are falling, this suggests that the longs are closing out their positions, indicating a trend reversal and an upward movement in price.

•         Static open interest along with rising or falling prices suggests a possible market top or bottom and trend reversal.

•       Volume is often used along with open interest. Volume refers to the number of contracts that have to have been traded within a given session.The higher the volume traded, the more likely a trend will continue. Rising open interest confirms that new money is supporting the prevailing trend.

Using volume and open interest together:

PRICE	OPEN INTEREST	VOLUME	FORECAST
RISING	UP	UP	Bullish (trend confirmation)
RISING	DOWN	DOWN	Bearish (possible trend reversal)
FALLING	UP	UP	Bearish (trend confirmation)
FALLING	DOWN	DOWN	Bullish (possible trend reversal)

NIFTY FUTURE STRATEGY FOR 13/07/12

LAST CLOSE @ 5251

TRADING ABOVE 5250....TRY TO KISS 5263 AND 5272,

CROSSOVER 5272.....WILL TAKE TO 5280 AND 5302

BELOW 5250.....CAN SEE FREE FALL UPTO  5228 - 5220 LEVELS.

STRONG SUPPORT @ 5220 - 5215 LEVELS

LAST HOPE FOR BULLS @ 5203

BELOW 5203...WHERE IS THE NEXT TARGET..????

SBI - ICICI - AXIS BANK PUNJAB NATIONAL BANK ANALYSIS FOR 13/07/12

TECHNICALLY WEAK...IF PRICE TRADE BELOW 1050....FOR INTRADAY

SUPPOSE TRADE BELOW 1050....WILL SLIDE TO 1043 - 1035 LEVELS.

THEREAFTER MAIN SUPPORT @ 1031

SUPPOSE BULLS CAN TRADE ABOVE 1050.....WILL TAKE TO 1059 AND 1063.

CROSSOVER 1063.... NEXT RESISTANCE @ 1072

DOJI PATTERN IN DAILY CHART

IF BULLS CAN TRADE AND SUSTAIN ABOVE 931.....TRY TO HIT 935 AND 938.

ABOVE 938.....NEXT RESISTANCE @ 945

TRADING BELOW 928.....SEE SLIDE UPTO 924 AND 922.

STRONG SUPPORT @ 922

BELOW 922....SUPPORT @ 911

ABOVE 2222....CAN SEE 2235- 2239 LEVELS

STIFF RESISTANCE @ 2244 AND 2253

TRADING BELOW 2222

WILL TAKE TO 2210 - 2192

STRONG SUPPORT @ 2186

LAST CLOSE @ 845

RESISTANCE @ 849 - 852 - 862

SUPPORT @ 840 - 833 - 828