Nifty technical setup before crucial inflation /iip data

By | February 11, 2015

FII

  • FII’s sold 12 K contract of Index Future worth 202 cores, 9.7 K Long contract were squared  off by FII’s and 2.3 K  short contracts  were added by FII’s. Net Open Interest decreased  by 7.3 K contract ,so FII’s squared  off  long  in Index Futures and added  shorts in index futures.
  • Nifty is at a crucial juncture trading between 21/34 HEMA, crossing the same we can see move towards 8682/8713 odd levels. Gann Box is also suggesting supply zone in range of 8682-8713.   Holding 8590 bulls will have upperhand, below it bears will have upperhand and take sharp downmove till 8500/8455 odd levels.

nifty hourly

 

NIFTY - Gann Box

  • Nifty Future Feb Open Interest Volume is at 2.48 core with liquidation of 1.3 lakhs so long liquidation was seen.
  • Total Future & Option trading volume was   at 1.86 core with total contract traded at 3.7 lakh. PCR @0.80, again at lower end of range so expect another rally .
  • 9000  CE  OI at 62.1  lakh so wall of resistance @ 9000 .8400/8900 CE liquidated 9.1  lakhs so bears have started feeling the pain but still holding 50 lakh shorts , so still resistance at higher levels. FII sold 28.4 K CE and 1.1 K shorted  CE were covered by them.
  • 8500 PE OI@ 41.4  lakhs so strong base @ 8500. 8600/8800 PE  saw addition of 1.6 so bulls have started warming up but still more OI needs to be added .  FII bought 16.8 K PE and 5.6 K shorted PE were covered  by them.
  • FII’s sold 371 cores in Equity and DII bought 147 cores in cash segment.INR closed at 62.25.

 

Buy above 8630 Tgt 8655,8682 and 8713 (Nifty Spot Levels)

Sell below 8593 Tgt 8566,8540 and 8520 (Nifty Spot Levels)

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2 thoughts on “Nifty technical setup before crucial inflation /iip data

  1. Abhi

    Hi Bramesh Ji,
    In yesterday’s analysis you mentioned that bears are holding 60 lakh CE OI but today you have given only 30 lacs after liquidation of 9 lacs. which number is accurate or should be followed.

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