Nifty Analysis for RBI Event

By | October 3, 2017

  • FII’s bought 4.2 K contract of Index Future worth 323 cores ,4.8 K Long contract were added by FII’s and 614 Short contracts were added by FII’s. Net Open Interest increased  by 5.4 K contract, so rise in market was used by FII’s to enter long and enter  short in  Index futures. FII’s Long to Short Ratio at 1.3.  Do You Stick to Losing Positions in Trading ?
  • As discussed in last analysis  Bulls should now close above 9770 for a move towards 9859/9930, above which only next rally towards new high can be seen, Bearish below 9685 for move towards 9610/9550.We had a neutral quarterly closing as we closed below 9810 but as we held on to 9770, so we are in neutral zone, We have another important time cycle date on 04 Oct, Bearish below 9770 for a break of 9685/9610. Bullish above 9820 for a move towards 9895/9930/9999. Friday we protected 9770 and today was made high of 9895, and price as seen in below chart moved exactly from 1 gann angle to another angle. Now the zone of 9920-9930 is zone of congestion close above 9930 can see fast rally towards 10000/10090/10170. Bearish below 9789 for a move towards 9740/9687/9610.04 Oct is time cycle date and also price is near gann angle, so impulsive move round the corner  Bank Nifty Analysis for RBI Event

  • Nifty October Future Open Interest Volume is at 2.12 core with addition of 7.3 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9857 closed above it.
  • Total Future & Option trading volume at 3.42 Lakh core with total contract traded at 0.89 lakh , PCR @0.88
  • 10000 CE  is having Highest OI  at 46.5 Lakh, resistance at 9900 followed by 10000 .9700-10300 CE liquidated 0.27 Lakh in OI so bears covered partial  position  in range of 9900-10000. FII bought 2.5 K CE and 135 CE were shorted by them. Retail bought 27.2 K CE and 27.2 K CE were shorted by them.
  • 9700 PE OI@39.7 lakhs having the highest OI strong support at 9700 followed by 9750. 9700-10300 PE added 17.3 Lakh in OI so bulls added position in 9800-9900 PE. FII bought 2.4 K  PE and 2 K PE were shorted by them. Retail bought 57 K PE and 43.1 K PE were shorted by them
  • FII’s sold 693ncores  and DII’s bought 1552 cores in cash segment.INR closed at 65.49

Buy above 9865  Tgt 9885,9920 and 9957 (Nifty Spot Levels)

Sell below 9825 Tgt 9800,9765 and 9725 (Nifty Spot Levels)

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2 thoughts on “Nifty Analysis for RBI Event

  1. Chandra

    Sir
    You said
    “Now the zone of 9920-9930 is zone of congestion close above 9930 can see fast rally……”

    What is zone of congestion. Please explain a bit more. How this helps in our analysis etc.

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