Nifty Outlook for December Series

By | November 27, 2014

FII

  • FII’s bought 100 K contract of Index Future worth 2188 cores, 101 K Long contract were squared off by FII’s and 143 K short contracts  were squared  off by FII’s. Net Open Interest decreased  by 245 K contract ,so nothing major to read on today’s data as FII’s were in square off mode.
  • Nifty made low of 8438 so still in range of 100 point correction as discussed in previous post  so till 8430 is not broken bulls are safe and will march towards new high , and if 8430 is broken than we can see decline of 100 points in nifty. ATR chart of nifty is shown below,ATR has been reducing for the whole of November month signifying December is going to be volatile month.  Broad range for December comes from 8100-8800.

nifty daily

  • Nifty Future December Open Interest Volume is at 2.09 core with addition of 46.9 lakh in OI suggesting long rollover.
  • Total Future & Option trading volume was   at 4.59 lakh core with total contract traded at 4.2 lakh. PCR @0.96, PCR back to normal again.
  • 8500  CE  OI at 50.4 lakh highest OI in start of series , 8600 CE saw addition of 5.4   suggesting wall of resistance start of series.
  • 8300 PE OI@ 28 lakhs so strong base @ 8300  . 8400 PE added 5.4 lakh in OI so base building happening @8400.
  • FII’s bought 389 cores in Equity and DII sold 336 cores in cash segment.INR closed at 61.87.

 

Buy above 8515 Tgt 8536,8565 and 8600 (Nifty Spot Levels)

Sell below 8480 Tgt 8460,8435 and 8414(Nifty Spot Levels)

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