Tomorrow is expiry day for April 2014 series. On the eve of expiry Nifty closed flat down 2 points at 6815.35. Day was lackluster with market breadth pointing equal weight-age of both bulls and bears. Many front line stocks closed in red like SBIN, DLF, ITC and some stocks made new series high right on the day prior to expiry day like LT, RELIANCE, ICICIBANK. This making of new series high is very important. LT being the prominent stock closed good healthy 1.8% higher after yesterday's 4% upmove.
VIX closed 3% down which is a good sign for tomorrow for bulls. Some minor internals are keeping markets from going above 6850.
FII/DII turnover remained sluggish again at higher levels.
|FII trading activity on NSE,BSE and MCX-SX in Capital Market Segment(Rs. Crores)|
|Category||Date||Buy Value||Sell Value||Net Value|
And in derivative segment FIIs again sold stock futures which they have been doing all throughout the series. They have in-fact bought Index futures for the last 5 days.
FII Derivatives turnover for April 2014 series (Cr)
|FII DERIVATIVES STATISTICS FOR 22-APR-2014|
|BUY||SELL||OPEN INTEREST AT THE END OF THE DAY|
|No. of contracts||Amt in Crores||No. of contracts||Amt in Crores||No. of contracts||Amt in Crores|
No ideas to track
We are holding 7000 CE but we are not counting on it.
Today we took fresh position in 6800CE and Nifty future, and exited 6850 PE with 10% loss.
In this series we have booked 173% Option profit, and 200 Nifty points (100*2 lots).
Nifty likely to go past 6850 and then fall back below 6850.
Conservative traders can wait for Nifty to go past 6850 and then attack 6900 PE April 2014 series, and exit when Nifty falls back below 6850.
Risky traders can go for 6850 with stop loss of 6800 and then shorting at higher levels for target of below 6850.
27 April 2014 - 6 May 2014 will present excellent money making opportunity. If interested contact now.