Long Black Candlestick. Resistance at 4900 --> 4950-->5020-->5056 for tomorrow. Support at 4805-->4788-->4766. Stochastic %D is showing -ve bias, moving below 20% region.
Tuesday, February 2, 2010
NIFTY EOD Analysis for 2nd Feb 2010
Long Black Candlestick. Resistance at 4900 --> 4950-->5020-->5056 for tomorrow. Support at 4805-->4788-->4766. Stochastic %D is showing -ve bias, moving below 20% region.
Open Interest
As i am a beginner to trading, i only trade stocks for the time being. But, many times i get a pop-up message in my trading terminal that Open Interest on a particular security is increased. So, you will not be allowed to take any fresh positions.
Source 1
Source 2
I wondered, why is Open Interest emphasized upon so much and thought to learn what it is all about. I got some very useful info which are as follows:
What is Open Interest?
Open Interest is the total number of outstanding contracts that are held by market participants at the end of the day.
It can also be defined as the total number of futures contracts or option contracts that have not yet been exercised (squared off), expired, or fulfilled by delivery.
It can also be defined as the total number of futures contracts or option contracts that have not yet been exercised (squared off), expired, or fulfilled by delivery.
Source 1
Source 2
World Markets analysis as on 1st Feb 2010
DOW is in oversold zone, and today it formed a bullish candle, but faced resistance around 10,200 level.
If it breaks 10,200 it will move up and test 10,420 level. Outlooks is bullish for tomorrow.
Subscribe to:
Posts (Atom)