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market analysis: What do futures & options tell us about the undercurrent in Nifty?

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Nifty opened gap down on Monday, but managed to hold the 14,400 level and slowly recovered most of its intra-day losses to close the day on a flat note.
Technically, it formed a Bullish Candle on the daily timeframe chart, as it closed above the opening level, and reclaimed its 50-day EMA. Now, it has to hold the 14,600 level to witness a bounce towards 14,800 and 14,880 levels, while on the downside support exists at 14,500 and 14,400 levels.
India VIX moved up 2.88% from 23.02 to 23.69 levels. India VIX needs to hold below 20 level to again create a bullish stance.
Since it is the beginning of a new series, options data lay scattered at different strike prices. On the options front, maximum Put Open Interest stood at 14,000 level followed by 13,500 while maximum Call OI was seen at 15,000 level followed by 15,500. Options data suggested a wider trading range between 14,200 and 15,200 levels.

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Nifty Analysis: Tech View: Don't read too much into the moving averages; Nifty showing strength

NEW DELHI: Nifty50 climbed over 1 per cent on Thursday and formed a bullish candle on the daily chart with a long lower wick, which reflected buying at lower levels with support at the 13-day moving average.
At close, the index stood above its 20-day and 50-day simple moving averages and nullified the Bearish Belt Hold pattern formed in the previous session. Analysts advised traders not to read much into the moving averages in a sideways market, but believe a breach of the 14,900 level could bring the bulls back into the game.
Chandan Taparia of Motilal Oswal Securities said Thursday's bullish candle was healthy. He said the index has formed higher lows in last two sessions and managed to hold above the 50-day exponential moving average (EMA).

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market outlook: Ahead of Market: 12 things that will decide stock action on Thursday

NEW DELHI: Nifty formed a fresh lifetime high in the intraday trade and formed a bullish candle on the daily chart.
Manish Hathiramani, proprietary index trader and technical analyst at Deen Dayal Investments said, “We should now be headed to 14,800-14,900. Good support has been created at 14,200. Keeping that as a stop level, traders can time their long positions in the Nifty. A buy on dips strategy would be a prudent approach."
“An optimistic western market aided the Indian market to touch lifetime highs with new buying in segments like auto, IT and PSU bank. So far, the Q3 results are better than forecasted and this has led to continued buying across sectors. Ahead of Joe Biden’s inauguration as President, the US market is in an upbeat mood with high expectations of a big US stimulus," said Vinod Nair, Head of Research, Geojit Financial Services.

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Tech View: Nifty50 forms a bullish candle; risk takers can buy the dips

"Except overbought readings on the momentum oscillators, no other technical parameter is hinting at weakness in the ongoing market march. Traders with high risk appetite can consider buying into intraday dips,” said Mazhar Mohammad of Chartviewindia.in.

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Tech View: Analysts cautiously optimistic as Nifty eyes 14,500

Analysts said the 14,200 level, which was acting as a key hurdle until now, will be the immediate support for the index, which seems to have set sights on the 14,500-14,600 zone now. Below that, the 13,950 level may continue to offer strong support to the index, they said.

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Kiwi Dollar Price Outlook: NZD/USD Continued Rise Amid USD Weakness

Kiwi Dollar Price Outlook: NZD/USD Continued Rise Amid USD Weakness
2020-12-11 13:34:00
Richard Snow,
Markets Writer
NZD/USD Analysis:
The New Zealand Dollar has benefitted form a shift in risk sentiment towards the Asia-Pacific nation as Covid vaccines are rolled out across developed Western economies
Bullish momentum remains for now, supported by bullish candle (daily chart)
IG Client Sentiment provides a mixed signal despite 73.8% net-short positioning
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Kiwi Dollar Stronger amid Sentiment Shift and Weaker USD
New Zealand is one of a few nations that managed to significantly reduce the economic impact the coronavirus has had on its local economy while managing infections in much the same way. The growth-linked currency forms part of a ‘core-perimeter model’ alongside Australia and China, as it tends to benefit from improving economic conditions related to global recoveries but China in particular.

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