Nifty Bulls rally towards 10000 above 9930

By | October 7, 2017

  • FII’s sold 3.8 K contract of Index Future worth 311 cores ,4.5 K Long contract were added by FII’s and 612 Short contracts were added by FII’s. Net Open Interest increased  by 5.1 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 1.32.  Take responsibility for your actions.
  • As discussed in last analysis   High made today was 9946 so again zone of congestion bulls are unable to cross and low made was 9981 and closed below 9900 for so hopefully we should see the targets coming tomorrow.Time cycle effect is getting delayed but more delay bigger move as in past scenarios,Bulls need close above 9930 for a move towards 10000/10090/10170, Bearish below 9900 for a move towards 9860/9810/9750. Bears got stopped out above 9930 and bulls were able to reach the 1 target of 10000, till we are holding 9930 rally can continue further as we have not seen broken the low of time analysis date, The problem in this raise is bank nifty is not supporting index once its break 24270,hopefully bulls will get more power and push index higher towards 10090/10170. Bearish below 9900 for move towards 9810/9750.  Bank Nifty bounce from lower end of range,EOD Analysis

  • Nifty October Future Open Interest Volume is at 2.33 core with liquidation of 0.08 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @9857 closed above it.
  • Total Future & Option trading volume at 3.59 Lakh core with total contract traded at 0.99 lakh , PCR @1.04
  • 10000 CE  is having Highest OI  at 40.8 Lakh, resistance at 10000 followed by 10100 .9700-10300 CE liquidated 17.9 Lakh in OI so bears covered position  in range of 9900-10000. FII bought 6.4 K CE and 629 shorted CE were covered by them. Retail sold 7.9 K CE and 9.3 K shorted CE were covered by them.
  • 9800 PE [email protected]  lakhs having the highest OI strong support at 9800 followed by 9750. 9700-10300 PE added  38.5 Lakh in OI so bulls added major position in 9800-9900 PE. FII bought 4.3 K  PE and 2.5 K PE were shorted by them. Retail bought 80.8 K PE and 58.8 K shorted PE were covered by them
  • FII’s sold 1040 cores  and DII’s bought 1239 cores in cash segment.INR closed at 65.37

Buy above 9990  Tgt 10010,10035 and 10070 (Nifty Spot Levels)

Sell below 9950 Tgt 9925,9905 and 9880 (Nifty Spot Levels)

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