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Indexes & constituents continue to be in BUY

Navin Agrawal  -  Nov 04, 2014  -  Comments Off

Trade Date: November 03, 2014

Indexes & their constituents continue to be in BUY across time frames | Keep Nifty Future 5 day ATP (8130) as stop loss

Best BUYs: Industrial Conglomerates, Pharmaceuticals, Consumer Finance, Construction & Engineering, Food Products

Best SELLs: Beverages, Automobiles, Personal Products, Wireless Telecommunication Services, IT Services

NIFTY Analysis
CNX NIFTY closed +0.02% at 8324.15 (+1.95 points). There were 23 gainers, 0 remained unchanged & 27 losers. The 5 day EMA of CNX NIFTY is at 8210; The 50 day EMA is at 7948; The 200 day EMA is at 7283. It is in Buy mode for trading, Buy mode in short term and Strong Buy mode in medium term. The weighted outlook of index constituents is Buy / Buy / Buy.

NIFTY Futures gained 0.11% over previous day and gained 4.44% over past 5 sessions. NIFTY Futures closed 2.89% higher than their 5 day average traded price of 8130.14. Open Interest shares of NIFTY Futures were 13.03% higher than their Open Interest 5 sessions ago. Volume of NIFTY Futures was 55.85% higher than their 5 day average.

NIFTY with a Put – Call Ratio (PCR calculated across all 3 expiries as per our proprietary model) of 0.41 indicates Bullish outlook. Based on option pricing, the expected expiry range for NIFTY is 8218 – 8477 and expected trading range is 8216 – 8436.

Stock Futures Analysis

The average weighted price of 129 stock futures closed higher than 5 days ago, 125 of these closed higher than their 5 day ATP. Open Interest shares of 23 of them increased over the past 5 sessions and the Delivery % of 12 of these was higher than 5 day average delivery, showing BUYING on increased Open Interest & higher volume. The weighted average gain of stocks of these 12 stocks was 6.10%.

The average weighted price of 10 stock futures closed lower than 5 days ago, 9 of these closed lower than their 5 day ATP. Open Interest shares of 5 of them increased over the past 5 sessions and the Delivery % of 3 of these was higher than 5 day average delivery, showing SELLING on increased Open Interest & higher volume. The weighted average loss of stocks of these 3 stocks was -3.87%.

Stock Options Analysis

131 stocks with an average PCR of 0.36 across all 3 expiries have a Bullish outlook, 6 stocks with an average PCR of 0.98 are Neutral and 2 stocks with an average PCR of 1.21 are Bearish.

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