Nifty Bulls fighting to conquer 8732,EOD Analysis

By | October 20, 2016

fii

  • FII’s sold 5.3 K contract of Index Future worth 396 cores ,15.3 K Long contract were added by FII’s and 20.7 K short contracts were added by FII’s. Net Open Interest increased  by 36 K contract, so rise in market was used by FII’s to enter long and enter  shorts  in  Index futures.  Why Trading is a mental game
  •  As discussed last Analysis 8710-8732 is crucial range for bulls as its gann resistance  and 8601-8610 is support on downside below which bears will start    warming up again. Between the range choppy move continue. High made today was 8727 so bulls were unable to breach the gann resistance zone of 8732, as weekly closing tomorrow bulls would like to close above 8732 and bears below 8656.   Bank Nifty does 19700, EOD Analysis

support

  • Nifty Oct Future Open Interest Volume is at 1.86 core with addition of 6.4 Lakh with increase in cost of carry suggesting long  position were added today, NF Rollover cost @8777,corrected 250 points from that
  • 9000  CE  is having Highest OI  at 63.3  lakh, resistance at 9000 .8500/9000 CE  added 4.7 lakh so bears  added in 8700-8800 range  .FII bought 18.5 K CE longs and 12.3 K CE were shorted by them .Retail sold 81.6 K CE contracts and 34 K shorted CE were covered by them.
  • 8500 PE OI@49.3 lakhs having the highest OI strong support at 8500. 8500-9000 PE added 4.5 Lakh in OI so bulls added aggressively  in 8600-8700 PE. FII sold 26.9 K  PE longs  and 16.5 K PE  were shorted by them .Retail sold 37.4 K PE contracts and 66.2 K shorted PE were covered by them.
  • FII’s bought 7 cores in Equity and DII’s bought 583 cores in cash segment.INR closed at 66.77

Buy above 8710 Tgt 8726,8750 and 8777 (Nifty Spot Levels)

Sell below 8675 Tgt 8650,8630 and 8601 (Nifty Spot Levels)

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