Skip to main content

Trade setup for Tuesday: Top Important Analysis to know before the opening bell 14-Feb-2023

On Monday (February 13, 2022), nifty opened as predicted by our PickMyStox algo. However, by 9:20am profit booking and fresh shorting ahead of inflation data release and that changed the sentiment.

Market Trend Analysis

Now let us look at the trends of NIFTY, BANKNIFTY, FINNIFTY & INDIA VIX for Tuesday (February 14, 2022) as predicted by our algo PickMyStox.

NIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 17790.45.
  • Trade Condition: price fall below 17719.75.
  • Targets: 17690.98, 17660.24, 17629.50.
  • Pullback Condition: price rise above 17728.97.
  • Pullback Target: 17790.45.
  • Trend Failure Condition: price rise above 17790.45.
  • Failure Targets: 17880.70, 17889.92, 17920.66.
  • Resistances: 17851.93, 17889.92, 17951.40
  • Supports: 17728.97, 17690.98, 17629.50
  • Bears Zone: 17851.93-17880.70 (9.22X)
  • Pivot Zone: 17780.68-17800.23 (1.67X)
  • Bulls Zone: 17719.75-17728.97 (0.62X)
  • Rangebound Rank: 9 (212%).

BANKNIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 41367.55.
  • Trade Condition: price fall below 41157.90.
  • Targets: 41055.68, 40959.29, 40862.90.
  • Pullback Condition: price rise above 41174.77.
  • Pullback Target: 41367.55.
  • Trend Failure Condition: price rise above 41367.55.
  • Failure Targets: 41662.55, 41679.42, 41775.81.
  • Resistances: 41560.33, 41679.42, 41872.20
  • Supports: 41174.77, 41055.68, 40862.90
  • Bears Zone: 41560.33-41662.55 (3.72X)
  • Pivot Zone: 41324.88-41410.23 (17.07X)
  • Bulls Zone: 41157.90-41174.77 (0.52X)
  • Sideways Rank: 0 (199%).

FINNIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 18437.07.
  • Trade Condition: price fall below 18342.15.
  • Targets: 18314.73, 18276.93, 18239.12.
  • Pullback Condition: price rise above 18361.45.
  • Pullback Target: 18437.07.
  • Trend Failure Condition: price rise above 18437.07.
  • Failure Targets: 18540.10, 18559.40, 18597.21.
  • Resistances: 18512.68, 18559.40, 18635.02
  • Supports: 18361.45, 18314.73, 18239.12
  • Bears Zone: 18512.68-18540.10 (2.39X)
  • Pivot Zone: 18433.01-18441.13 (7.98X)
  • Bulls Zone: 18342.15-18361.45 (1.55X)
  • Sideways Rank: 0 (195%).

INDIA VIX Trend for Tuesday

  • Trend: sideways to positive.
  • Trend Confirmation: price stays above 13.20.
  • Trade Condition: price cross above 14.10.
  • Targets: 14.61, 15.04, 15.47.
  • Pullback Condition: price fall below 14.07.
  • Pullback Target: 13.20.
  • Trend Failure Condition: price fall below 13.20.
  • Failure Targets: 11.83, 11.80, 10.93.
  • Resistances: 14.07, 14.61, 15.47
  • Supports: 12.34, 11.80, 10.93
  • Bears Zone: 14.07-14.10 (0.23X)
  • Pivot Zone: 12.97-13.44 (143X)
  • Bulls Zone: 11.83-12.34 (4.06X)
  • Rangebound Rank: 9 (212%).

Future OI Analysis

Let us find out long buildup, short buildup, long unwinding and short covering stocks based on the future price movement, open interest and volume.

Long Buildup Stocks

Based on the OI percentage, a long build-up was witnessed in 9 stocks on February 13, 2023.

Short Buildup Stocks

Based on the OI percentage, a short build-up was witnessed in 66 stocks on February 13, 2023.

Short Covering Stocks

Based on the OI percentage, a short build-up was witnessed in 27 stocks on February 13, 2023.

Long Unwinding Stocks

Based on the OI percentage, a short build-up was witnessed in 91 stocks on February 13, 2023 


Options OI Analysis

We considered weekly options open interest for this analysis

NIFTY Options Open Interest Analysis

On a weekly basis, the maximum near by Call open interest (OI) was at 18,000 strike, with 10 million contracts, which can act as a resistance for the coming week of the February series.

And maximum near by Put open interest (OI) was at 17,500 strike, with 4.7 million contracts, which can act as a support for the coming week of the February series.


BANKNIFTY Options Open Interest Analysis

On a weekly basis, the maximum near by Call open interest (OI) was at 41,500 strike, with 5 million contracts, which can act as a resistance for the coming week of the February series.

And maximum near by Put open interest (OI) was at 41,000 strike, with 2.1 million contracts, which can act as a support for the coming week of the February series.


FII and DII data

Foreign institutional investors (FII) was on bullish side on stocks, Calls & futures and bearish side on Puts, whereas the domestic institutional investors (DII) was also on bullish side on stocks.


Disclaimer: These are only suggestive technical rules that have been found to work well over time in the market. These are not any trading or investing recommendations. We suggest you to take advice from certified experts for trading and investing. Neither PickMyStox nor any of its associates are responsible for any trading or investing loss.

Topics:

Comments

Post a Comment

Popular Tutorials

India's Q1 FY24-25 GDP Slowdown: How Share market will react?

India's Q1 FY24-25 GDP growth rate has decelerated to 6.7% from 8.2% in the previous year. This news has sparked mixed reactions in the market, with analysts and investors weighing the implications for the country's economic outlook. Key Takeaways  * Mixed Bag : While the slowdown indicates a cooling economy, which could help alleviate inflationary pressures, it also raises concerns about the sustainability of India's growth momentum.  * Market Reactions : The news is likely to have varying impacts on different asset classes:    * Equity Markets : A potential negative reaction due to concerns about India's growth prospects. However, if the slowdown is seen as temporary, the impact could be limited.    * Bond Markets : A potential positive reaction as investors may perceive lower inflation risks.    * Currency Markets : The Indian rupee could weaken against the US dollar as investor confidence in the economy may decline. However, the Reserve Bank of India'
Post a Comment
Read more

Things You Should Know About Mutual Fund Stress Test | SEBI Ordered Small and Midcap Mutual Funds to Perform Stress Test

Association of Mutual Funds in India (AMFI) and the Securities and Exchange Board of India (SEBI) released a circular that requires asset management companies (AMCs) to conduct a stress test based on previous month data and disclose results for small and mid-cap schemes by March 15 each year. The aim of this initiative is to give investors a better understanding of the risk profiles of these schemes and improve transparency. However, most of the influencers in YouTube associated the recent fall in share market is due to the impact of executing the stress test. Let us clarify what is mean by stress test in Mutual fund and how it is carried out? How mutual funds conduct stress test? Mutual funds conduct stress tests to assess the liquidity of their portfolios, particularly those holdings in small-cap and mid-cap stocks. This involves simulating a scenario where there's a sudden surge in redemption requests from investors. The stress test measures the time it takes the fund house to s
1 comment
Read more