Nifty continue to rally holding time cycle low,EOD Analysis

By | October 17, 2017

  • FII’s bought 31.7 K contract of Index Future worth 2486 cores ,29.8 K Long contract were added by FII’s and 1.8 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 27.9 K contract, so rise in market was used by FII’s to enter  long and exit  short in  Index futures. FII’s Long to Short Ratio at 1.73. FII Long to short ratio signaled bottom on 27 Sep when its hit 0.99 and we are up 500 points in 13 trading sessions. How To Teach Your Brain To Trade
  • As discussed in last analysis    Till 9930 is held bulls are in control rally till 10090/10130/10180. Bearish below 9930 for a move towards 9810. We did a new all time high on nifty showing the effect of time cycle as we also did the 2 target of 10180, As we enter uncharted territory 10224-10236. Bulls need a daily close above 10253 for a next move towards 10355/10400. Bearish below 10090 for a move towards 10000/9930. High made was 10243 and low 10175 so bulls were able to close above gann resistance number of 10170 for 2 sessions and also made low around that suggesting 10170 will act as strong support. We are able to catch the max of move from time cycle low date of 11 Oct. Time cycle gives extra edge to traders in riding the move, Nifty bulls need a close above 10253 for another up move towards 10355/10400/10521/19575.  Bearish below 10090 for a move towards 10000/9930.Bank Nifty continue its uptrend with pause,EOD Analysis

  • Nifty October Future Open Interest Volume is at 2.67 core with addition of 0.92 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9857 closed above it and up 400 points
  • Total Future & Option trading volume at 6.83 Lakh core with total contract traded at 1.2 lakh , PCR @1.04
  • 10200 CE  is having Highest OI  at 32.4 Lakh, resistance at 10200 followed by 10250 .10000-10500 CE added 2.7 Lakh in OI so bears added position  in range of 10200-10300. FII bought 11.4 K CE and 2 K shorted CE were covered by them. Retail bought 40.8 K CE and 29 K CE were shorted by them.
  • 10000 PE OI@70.8 lakhs having the highest OI strong support at 10000 followed by 9900. 10000-10500 PE added 35 Lakh in OI so bulls added major position in 10000-10200 PE. FII sold 3.7 K  PE and 17.7 K PE were shorted by them. Retail bought 53.9 K PE and 17.7 K PE were shorted by them
  • FII’s sold 29 cores  and DII’s bought 272 cores in cash segment.INR closed at 64.71

Buy above 10253  Tgt 10271,10300 and 10325 (Nifty Spot Levels)

Sell below 10210 Tgt 10190,10170 and 10150 (Nifty Spot Levels)

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