Trading Room Charts – 25/02/14

Tomorrow is expiry and the bullish bias in the market was self evident as the intra dip in the market was bought furiously to have a market which was unchanged after the day’s auction



Bn_Feb Bnf_Feb_Compo Feb_Nf_Compo Nf_Feb




The charts above show a market in balance or accepting value at higher levels after the trend day yesterday


For the Nifty in the FEB future the Option players would like to keep the market in today’s range of 6175- 6225 F


This is in line with the spot trading just below the 6230 res and above the 6166 support. That chart gives little space to move above 6240 spot so it will be interesting to note the kind of delta we see if we get to 6240 on cash tomorrow.


As with my view earlier in the day I do see a possibility of the Future trading to 6256/ 6268 if it stays above 6204 tomorrow.


If we however break 6180 tom then we dip to 6163 and 6142 where support should play again.


In the BankNifty the index closed just above the 10650 support after the gap up did not see new buyers entering the system.


If we don’t trade above 10730 F in the morning hour the possibility of 10848 is greatly reduced and the index can play in today’s range all of tomorrow.


If we trade below 10650 then we will see 10572 and 10510 in the FEb F tomorrow.