Nifty Outlook for November Series

By | October 31, 2014

FII_1

  • So finally we have got a new High, We have been advocating of the same in our Weekly Analysis Nifty ready to march towards all time high, and Daily Analysis structure is still bullish till it do not close below the green line in the gann box.Once 8060 is crossed new high can come by Expiry or by Friday. Big move will be coming either tomorrow or Thursday.    So whats next , Nifty has been rising continuously and negative divergence are visible in daily charts,so small dip/correction can be seen till 8100. As per Elliot Waves target for this move comes near 8326 as shown below.  Traders do note Lot sizes of F&O contract will be revised from November series, Click on the link to see revised lot sizes, Nifty lot size is getting reduced to 25 from today.

 

Nifty Hourly EW

  • Nifty Future November Open Interest Volume is at 1.85 core with addition of 43.5  lakh in OI.Series is starting on a heavy note so trending moves are bound to come.

  • Total Future & Option trading volume was   at 5.51  lakh core highest ever with total contract traded at 2.6 lakh. PCR @1.08.Again time to be cautious as PCR jumped  above 1
  • As per Option Data range is coming @ 8000-8300 for next few days.
  • FII’s bought 1257 cores in Equity and DII sold 94 cores in cash segment.INR closed at 61.32.

 

Buy above 8181 Tgt 8205,8220 and 8241 (Nifty Spot Levels)

Sell below 8145 Tgt 8109,8085 and 8050 (Nifty Spot Levels)


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2 thoughts on “Nifty Outlook for November Series

  1. Dinesh Kumar Gupta

    What an analysis Sir? Bang on Target, Very useful service to all your followers. Kindly continue the same. Kindly advise whether I can buy few stocks in cash segment for Long Term?

  2. Praveen Khunte

    Nifty Futures October premium increased by about 30 points as compared to Nifty November and December premium in last hour of yesterdays trade. Is this indicates short covering? Please advise.

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