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Tuesday, 11 February 2014

Nifty february 2014 series analysis forecast for 12 feb 2014 - 11 feb 2014

Hi,

Nifty February 2014 analysis of 11 Feb 2014

After making high on 7th Feb 2014 Nifty all of a sudden becomes very orderly beast.
Big volatility which was present on 5th to 7th all of a sudden diminishes as Nifty enters the second half of the time band of 5-12th Feb 2014. If you havent read the forecast go through it : http://nifty-forecast.tracknifty.com/2014/02/nifty-forecast-for-january-2014.html .

Now only one day is remaining of this time band, and ideally Nifty should come near 5th Feb 2014 low of 5962 completing the opposite U formation as discussed here : http://blog.tracknifty.com/2014/02/nifty-february-2014-series-analysis_5.html

Despite strong global cues Nifty didnt break out stop loss of shorts of 6100+ levels. This has given more confidence to our short positions. 
http://nifty-trade.tracknifty.com/2014/02/nifty-february-2014-series-trade-6-7.html

Today FII were net sellers yet again to the tune of -165Cr. They are in full flow in their selling now as we are writing constantly that their buying indicator is weak now. 

On the derivative front, they bought stock future yet again to the tune of 260Cr. In Index futures their behavior is shaky, sometimes buying sometimes selling. They are buying stock futures since 6th Feb 2014 continuously taking the total to 917Cr in 5 days.

IT stocks zoomed today and gave mixed finish. HclTech was hero with giving gains of 4%. Any opening weakness will give clear sell signal in IT stocks.

Expiry blog has been updated for latest February 2014 series expiry levels : 
http://nifty-expiry.tracknifty.com/2014/02/nifty-expiry-february-2014-series.html

Nifty February 2014 outlook forecast for 12 February 2014

Nifty is expected to give very sharp movement either way tomorrow. Tomorrow IIP data is due. Keep a close eye. Vodafone conciliation talks has failed and tax dept will collect 20K Cr now. Time wise bullish time is from 13 - 19 Feb 2014. 

Advice for traders

Traders are advised to take caution before taking long positions. Level wise : 6100, 6032, 6000 are levels to place your trades / orders.

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com