Nifty forms short term bottom,EOD Analysis

By | November 22, 2016

fii

  • FII’s bought 5.7 K contract of Index Future worth 370 cores ,15.8 K Long contract were added by FII’s and 10  K short contracts were added by FII’s. Net Open Interest increased  by 25.9 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures.
  • As discussed in last analysis  7899 is very important level which needs to be watched in coming 2 days, Closing above it we can see relief rally till 8155 levels. Close below 7900 can see fresh selling towards 7820/7750. Low made today was 7938 higher than previous day low of 7916 and in process held on to 7900. Holding 7916 we might has formed a short term bottom and see rally till 8130/8270. Bulls on close above 8010 can see fast move towards 8060/8100 in next 2 session. Bears will get active below 7900 and in between 7900-8010 it will be volatile expiry moves. Bank Nifty held on to gann angle,EOD Analysis

gann-angles-support-8080

  • Nifty Nov Future Open Interest Volume is at 1.52 core with liquidation of 13.9 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8705 made high at 8704 on 01 Nov and correction of 700 points.
  • Total Future & Option trading volume at 4.96 Lakh core with total contract traded at 1.9  lakh , PCR @0.81.
  • 8200  CE  is having Highest OI  at 49.9 lakh, resistance at 8200 followed by 8100 .7900/8500 CE  liquidated 13.7  lakh so bears liquidated aggressively 7900 PE .FII bought 15.2 K CE longs and 15.7 K CE were shorted by them .Retail sold 27.1 K CE contracts and 8.4 K CE were shorted by them.
  • 8000 PE OI@43.9 lakhs having the highest OI strong support at 8000. 7900-8500 PE liquidated 15.4 Lakh in OI so bulls ran for cover  in 8100/8000 PE. FII sold 20  K  PE longs  and 17 K shorted PE were covered by them .Retail bought 54.3 K PE contracts and 24.9 K shorted PE were covered by them.
  • FII’s sold 692 cores in Equity and DII’s bought 1075 cores in cash segment.INR closed at 68.25

Buy above 8020 Tgt 8034,8065 and 8100 (Nifty Spot Levels)

Sell below 7980 Tgt 7955,7930 and 7905 (Nifty Spot Levels)

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2 thoughts on “Nifty forms short term bottom,EOD Analysis

  1. vishnu

    sir when you say buy above or sell below.. what is the ideal time it should sustain above or below these levels mentioned. so we can take the trade
    regards,
    Vishnu

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