# Cherish

- Nifty achieved 9117 and fell down some two hundred points from there
- For 5th March 2015 – Nifty is likely to trade between 8949 and 8823 levels. The Bias is negative, but outlook is primarily rangebound

- Momentum: The BSAR Pivot is at 8826. The RSI (14) is at 59.8 Dn by 5.7 points from previous close. When CNX Nifty is rangebound, RSI (14) tends to get Overbought above 68 Oversold below 40 The W%R (29) is at -30.2 Dn by 28 points from previous close. When CNX Nifty is rangebound, the W%R (29) tends to get overbought above -4 and Oversold below -67. The RSI (5) smoothed using Inverse Fisher Transform is at 86.3 a change of -13.2 points; the maximum value achieved in last three session is 99.5
- Trend: The ADX (14) is at 22.5 Up by 1.3 points from previous close. The VHF(29) is at 0.28 Dn by 0 points. For CNX Nifty the ADX (14) usually hovers between 35 and 15 and VHF (29) usually hovers between 0.46 and 0.24
- Price Action: On Wed 04 Mar 2015, the CNX Nifty Index opened at 9109.15 ( 146 Points Higher than Previous Opening Price ) , made a high of 9119.2 ( 110 Points Higher than Previous High ) it made a low of 8893.95 ( -32 Points Lower than Previous Low ) closed at 8922.65 ( -74 Points Lower than Previous Close ). The Volumes were 256,060,375 ( 40% Higher than last trading session, and about 33.3% Higher than Average. The Volume figures were about 169.91% of Standard Deviation Above the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it’s True Range. The Color of the candle was Black with the wick was equal to 10.05 Points, and the body was equal to 186.5 and lower shadow was equal to 28.7
- Moving Averages and Pivot Points: The 5 Day Moving Average is at, 8913; and the Short Term 13 Day Moving Average is 8850; and the 34 Day Moving Average is at 8766; and Medium Term 50 Day Moving Average is 8603; and the Long Term, 200 Day Moving Average is at 8060. The Market Structure is Technically Speaking, BULLISH
- Market Breadth: As on Wed 04 Mar 2015, the Market Breadth was 0.39, which is considered as Poor , while at the end of the last trading session it was 1.72. The McClellan Oscillator reading was -5.38, which is considered as Normal
- Nifty is going to be Extremely Over Sold at 8743, Over Sold at 8793 the mean is at 8914, Over Bought at 9035 and Extremely Over Bought at 9085
- Volumes: On Wednesday 04 Mar 2015 Volume was 256,060,375 which was Above Average. For the next full trading session the Volumes are expected to be Below Average – somewhere around 197,000,000. The MFI reading was 74 while previously it was 73.1. The MFI tends to get Overbought above 72 and Oversold below 38
- Trend as per volume data: As per the EOD data available, the 2 EMA of Force Index (FI) read in conjunction with the 13 EMA of FI and 21 SMA of Closing Prices indicates that Nifty is currently BUY ON DIPS
- Index Futures: The Open Interest in Futures at the End of the Day Wednesday 04 Mar 2015 was 28,639,700 while previously it was 29,457,600 a change of -2.78% which is considered to be The Cost of Carry of the Current Series Expiring on 26-Mar-2015 was 6.25% while previously it was 10.30% while the change in Open Interest was -3.31% which might suggest LONGS UNWINDING in the Current Series. The Cost of Carry of the Mid Series Expiring on 30-Apr-2015 was 7.25% while previously it was 8.73% while the change in Open Interest was 8.65% which might suggest SHORTS ADDITION in the mid series.
- Index Options : The Open Interest in Options at the End of the Day Wednesday 04 Mar 2015 was 81,135,600 while previously it was 79,420,575 a change of 2.16%
- USDINR Pair: The RBI Reference Rate for 1 US Dollar was 61.8543 and it Gained against the INR by about 0.0156 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was -3.9% and the Actual Open Interest at End Of the Day was 24,90,540. The Daily Parabolic SAR is 62.041

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