Nifty – 1 Hour Chart

Nifty

Sell –

Below 9597, Targets – 9572

Buy –

Above 9634, Targets – 9650, 9672

Indicators for bearishness

  • Nifty seeing Negative Crossover on Hourly chart
  • Sentiment has entered the negative territory

Option Analysis

Option

Short Build up seen in 9400 PE

Profit Booking seen in 9800 CE

FII Activity

Cash Segment:
FII’s: -834.36 Crs
DII’s: 295.88 Crs
Derivative Segment:
Index Futures: 147.27 Crs
Index Options: 308.75 Crs
Stock Futures: 151.96 Crs
Stock Options: 101.02 Crs

Big Money has gone towards buying of Call Options while staying bearish in the Cash Segment.

Highest OI seen in 9400 PE and 9700 CE – Implying Nifty will trade within 300 points. Breakout above 9700 only can take Nifty to 9900.

Traders should remain cautious or hedge their positions for the time being, to avoid any erosion of capital.