Nifty forms double top, FII Data Analysis

By | November 19, 2014

FII

  • FII’s bought 6.7 K contract of Index Future worth 106 cores, 1.3 K Long contract were squared off by FII’s and 8.1 K short contracts  were squared off  by FII’s. Net Open Interest decreased  by 9.5 K contract , so FII booked profit in shorts in today’s fall.
  • Nifty formed a double top @8455 and Evening star candlestick pattern and also broke its hourly channel  with break of 21/34 HSMA, so today we saw first time bears overpowering bulls, but still we are trading in range of 8290-8455 so till this range is not broken no clear move is visible. Its been 11 trading sessions we have been trading in the range, so breakout/breakdown should be seen very soon which will lead to 150/200 points move either side.

nifty hourly

 

  • Nifty Future November Open Interest Volume is at 2.19 core with liquidation of 6.2 lakh in OI suggesting long liquidation
  • Total Future & Option trading volume was   at 2.25  lakh core with total contract traded at 3.3 lakh. PCR @1.10, PCR is again showing overconfidence in Bulls.
  • 8500  CE  OI at 57.2 lakh  suggesting wall of resistance , 8400 CE  saw .8 lakh liquidation in OI suggesting bears are weakening at 8400 but still not down and out. FII’s bought 13.5K CE longs and 14.1K CE were shorted   by  them.
  • 8300 PE OI@ 60.3 lakhs so strong base @ 8300  . 8400 PE liquidated 4.2 lakh in OI so bulls exited in panic, tomorrow if 8400 PE do not see any addition we can see another round of selling  , FII’s bought 60.3 K  contract  PE longs and 8.6 K PE  were shorted   by  them. Highest PE addition seen by FII’s today.
  • FII’s bought 72 cores in Equity and DII sold 491 cores in cash segment.INR closed at 61.96.

 

Buy above 8400 Tgt 8438,8455 and 8490(Nifty Spot Levels)

Sell below 8360 Tgt 8344,8304 and 8280(Nifty Spot Levels)

 

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