Nifty Bears does 8154 below 8250,EOD Analysis

By | December 12, 2016

  • FII’s sold 1.1 K contract of Index Future worth 60 cores ,2 K Long contract were liquidated by FII’s and 0.9 K short contracts were liquidated by FII’s. Net Open Interest decreased  by 2.9 K contract, so fall in market was used by FII’s to exit long and exit shorts  in  Index futures. The little woman who inspired the cable TV Moghul to give away fortune
  • As discussed in last analysis  Close above 8250 target 8330/8370/8444. Unable to close above it another move towards 8200/8153. Bulls finally were able to close above 8250 and sustaining above it nifty should move towards 8330/8370/8444. Any close below 8250 bears will get upper hand and push nifty towards 8181/8150/8097. Expect good trending move in next 2 trading days. Nifty closed above 8250 signalling the bulls are having upperhand but opened gap down today and made high of 8230 signalling bears are on prowl as we are below 8250 and did the target of 8150, Low made was 8154. Now again we are near a crucial juncture as seen in below chart, Break of 8150 can see move towards 8097/8055 near the upper and lower boundary of grenn arc, closing above 8185 again a move towards 8250/8330.  Bank Nifty range trading continues,EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 1.65 core with liquidation of 6.4 Lakh with increase in cost of carry suggesting short  position were added today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 2.24 Lakh core with total contract traded at 1.16 lakh , PCR @0.95.
  • 8300  CE  is having Highest OI  at 51.4 lakh, resistance at 8300 followed by 8500 .7900/8500 CE  added 6.8  lakh so bears added aggressively in 8200/8300 CE .FII sold 9.9 K CE longs and 0.5 K shorted CE were covered by them .Retail bought 51 K CE contracts and 12.5 K CE were shorted by them.
  • 8000 PE OI@76.1 lakhs having the highest OI strong support at 8000. 7900-8500 PE liquidated 15.8 Lakh in OI so bulls  ran for cover in 8300/8400 PE. FII bought 5.7 K  PE longs  and 0.4 K PE were shorted by them .Retail sold 29.2 K PE contracts and 1.6 K PE were shorted by them.
  • FII’s sold 94 cores in Equity and DII’s sold 266 cores in cash segment.INR closed at 67.41

Buy above 8185 Tgt 8210,8230 and 8250 (Nifty Spot Levels)

Sell below 8160 Tgt 8140,8120 and 8101 (Nifty Spot Levels)

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