1. FII  bought 9477  Contracts of Index Futures worth 216 cores OI increased by 20063.
2. As Nifty Futures was up  by 6  points with  OI increased  by200635 , Huge Short were covered by FII.
3. INR (http://inrliverate.blogspot.in/),Click on link to get live rate during market hours closed at new low of 55.59 so the low of 55 was protected and INR has started rising again,the same effect was seen in NIfty in dying hours as it closed below psychological support of 5000.
4.Nifty today closed above 4981 ie. 20 SMA which is technically bullish,Till it trades above 4981 bulls have upper hand. Hourly charts are overbought and dips till 4920 can happen as we have gaps and cool off..

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1. FII  bought 3551  Contracts of Index Futures worth 96 cores OI increased by 38185.
2. As Nifty Futures was up  by 52  points with  OI increased  by38185 , Huge Short were covered by FII.
3. INR closed at new low of 55.14, which also contributed to Bullish bias today,NS has 11 Points gaps which needs to be filled. 4931-4920 is the gap which is left in NS after todays upmove.
4.Nifty today closed above 4960 and also above..

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Nifty halted its down move, made a low of 4803 but outperformed BRIC as we are up  0.6% WoW basis. Last week as we discussed below 4898  trend remain bearish and Nifty made a low of 4803 high of 4934.Click Here to Read the Previous Week Analysis

INR made a life time low of 56.3 before closing 55.41, on news that we can see Diesel Hike and Cooking Gas price gas hike which will help in getting its finance in order. Next Week is Expiry do except a volatile week ahead. Till 4960 is not crossed Bears are having upperhand and they will want to push nifty down to cover there shorts at lower rates,Bulls if able to cross above 4960 will lead to huge short covering coupled with value buying.

Nifty Hourly Chart

Trading comfortably above 50 HSMA @4880. Hourly charts are approaching overbought conditions and pullback till 50HSMA should be bought into.Below 4880 low of 4805 can be retested again.

Nifty Gaps

Nifty has the following gaps so any close below 5000 will lead to gap filling so keep a close eye on..

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Bulls gave a Knockout punch today to bears and in one instance closed above 4900 . Does it change the trend.
My analysis show till its below 4960 Bears still have upper hand,Bear market rallies are sharp furious and short lived. Above 4960 Bulls will get upper hand . Expiry is 5 days away and till now as we have discussed we can see a move 4700-5000 till expiry and tomorrow being a Weekly closing  Bulls needs to close nifty above 4918 else this upmove will also flatter.
1. FII  sold 26556  Contracts of Index Futures worth 660 cores OI increased by 18648.
2. As Nifty Futures was up  by 98  points with  OI increased  by18648 , Short were covered by FII.
3. INR closed at new low of 55.70 (http://usdinrlive.blogspot.in/) So at last Fall in USD after 7 days of strength.
4.Nifty is still not out of woods...

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Today we had the Steepest rise in Petrol Prices Rs 7.50,Quantum of Hike will lead to inflation as price of essential goods will rise and whole brunt will be borne by Common Man!!. For Stock Market Perceptive its negative for Auto Stocks, Bank Stocks (as Further rate hikes will not be done) ,Infra Stocks and positive for OMC BPCL,HPCL and IOC.
Global Screen is looking scary with S&P coming closer to its 200 DMA@1279. Always remember Oversold and get more Oversold so do not Buy just because Market is oversold it will harm your financial wealth and peace of mind.

1. FII  sold 33591 Contracts of Index Futures worth 812  cores OI increased by 8427.
2. As Nifty Futures was down  by 26  points with  OI increased  by 8427 , Shorts have entered the system.
3. INR closed at new low of 56.08 (http://usdinrlive.blogspot.in/) Click on link to see Real time rate for INR, with fuel price hike INR can see some strength tomorrow.Till Nifty does..

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