Nifty does intraday correction failing to close above 10171

By | September 21, 2017

  • FII’s sold 5.5 K contract of Index Future worth 375 cores ,4.3 K Long contract were added by FII’s and 9.9 K Short contracts were added by FII’s. Net Open Interest increased  by 14.3 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.09. Unlock your Trading Success
  • As discussed in last analysis   Another failed attempt to cross 10171, 2 small days of consolidation and again we protected gann angle again, expect a good move in nifty in coming 2 trading sessions. Bullish above 10171 for a move towards 10236/10300. Bearish below 10100 for a move towards 10030/9970. 10071 continue to play crucial role, and finally nifty cracked below 10100 but failed to do our target of 10030 and closed above 10100, Bullish above 10171 for a move towards 10236/10300. Bearish below 10100 for a move towards 10030/9970. 23 Sep is an important time cycle date,effect will be seen either tomorrow or Monday.  Bank Nifty corrects on time cycle date,EOD Analysis

  • Nifty September Future Open Interest Volume is at 2.06 core with liquidation of 2.3 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @9910 Closed above it and rallied 250 points.
  • Total Future & Option trading volume at 11.60 Lakh core with total contract traded at 1.18 lakh , PCR @0.85
  • 10200 CE  is having Highest OI  at 51.6 Lakh, resistance at 10200 followed by 10100 .9900-10500 CE liquidated 16.8 Lakh in OI so bears covered major position  in range of 10100 CE. FII bought 449 CE and 2.4 K CE were shorted by them. Retail sold 64.4 K CE and 66.9 K shorted CE were covered by them
  • 10000 PE OI@51.7 lakhs having the highest OI strong support at 10000 followed by 9900. 9900-10500 PE liquidated 3.3 Lakh in OI so bulls covered position in 9900-10000 PE,making strong base at 9900. FII sold  12.5 K  PE and 8.3 K PE were shorted by them. Retail sold 92.8 K PE and 82.4 K PE were shorted by them
  • FII’s sold 1204 cores  and DII’s bought 1416 cores in cash segment.INR closed at 64.27

Buy above 10130  Tgt 10150,10172 and 10200 (Nifty Spot Levels)

Sell below 10110 Tgt 10080,10060 and 10030 (Nifty Spot Levels)

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