Nifty Analysis before Gujarat Election last phase voting

By | December 13, 2017

  • FII’s bought 9.6 K contract of Index Future worth 767 cores ,7.5 K Long contract were added by FII’s and 2 K Short contracts were covered by FII’s. Net Open Interest increased  by 5.4 K contract, so fall in market was used by FII’s to enter  long and exit short in  Index futures. FII’s Long to Short Ratio at 1.2. When Should a Trader avoid trading ?

 

  • As discussed in last analysis  Time Cycle date showed it effect as we got the trending move on downside. Now bears need a close below 10220 for a the next down move towards 10175/10090. Bullish above 10270 for a move back towards 10325/10410. High made today was 10296 so bulls again got whipsawed above 10270 and once below 10220 bears again took charge and corrected till 10175. Now tommrow is again time cycle date so low and high will be important also we can see trend change. Bullish above 10250 for a move towards 10320/10410. Bearish below 10150 for a move towards 10090/ 10000. Price has again come around the gann angle  so we should get 150-200 points move in  nifty also we have the event overhang of election results.  Bank Nifty ready for a 500-800 points move,EOD Analysis

 

  • Nifty Dec Future Open Interest Volume is at 2.14 core with addition of 0.83 Lakh with increase in  cost of carry suggesting Long position were added today, NF Rollover cost @10396 closed below it.
  • Total Future & Option trading volume at 8.38 Lakh core with total contract traded at 1.64 lakh , PCR @0.82
  • 10500 CE  is having Highest OI  at 63.4 Lakh, resistance at 10400 followed by 10500 .10100-10600 CE added 4.4Lakh in OI so bears added major position  in range of 10300-10400 . FII sold 972 CE and 3.7 K CE were shorted by them. Retail bought 91 K CE and 47.6 K CE were shorted by them.
  • 10000 PE [email protected] lakhs having the highest OI strong support at 10100 followed by 10000. 10000-10600 PE liquidated 7.9 Lakh in OI so bulls covered position in 10100-10200 PE. FII bought 1.2 K PE and 10.6 K PE were shorted  by them. Retail bought 6.8 K PE and 17.5 K PE were shorted by them.
  • FII’s sold 578 cores  and DII’s sold 116 cores in cash segment.INR closed at 64.43

Buy above 10220 Tgt 10240,10270 and 10295 (Nifty Spot Levels)

Sell below 10170 Tgt 10145,10120 and 10100 (Nifty Spot Levels)

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