Nifty Bulls get whipsawed again,EOD Analysis

By | January 3, 2018

  • FII’s sold 12.2 K contract of Index Future worth 1011 cores ,932 Long contract were added by FII’s and 13.2 K Short contracts were added by FII’s. Net Open Interest increased  by 14.1 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 1.66. How to deal with Whipsaw in trading

 

  • As Discussed in Last Analysis High made was 10495 and low made was 10405 so  nifty bulls and bears both got whipsawed today, with  nifty breaking both range but not giving any move. Tomorrow is another important time cycle date so we should get the trending move. No Change in Plan Bullish above 10490 for a move towards 10551/10630. Bearish below 10410 for a move towards 10371/10315. Nifty opened with gap up  after taking support at 10410 yesterday but again failed to give the required move above 10490, Last 2 days have been very taxing for traders and mental strength is tested, eventual rewards after this sideways move will also be rewarding. Till time cycle low of 10410is held bulls have upper hand. Bullish above 10490 for a move towards 10551/10630. Bearish below 10410 for a move towards 10371/10315.  Bank Nifty Bulls get whipsawed again,EOD Analysis

 

  • Nifty Jan Future Open Interest Volume is at 2.35 core with addition of 7.9 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10545 closed below it.

 

  • Total Future & Option trading volume at 5.74 Lakh core with total contract traded at 1.22 lakh , PCR @0.88

 

  • 10600 CE  is having Highest OI  at 38.2 Lakh, resistance at 10600 followed by 10700 .10100-10800 CE added 7 Lakh in OI so bears added major position  in range of 10600-10700 . FII bought 3 K CE and 2.9 K CE were shorted by them. Retail bought 65.1 K CE and 41.7 K CE were shorted by them.

 

  • 10300 PE OI@48.2 lakhs having the highest OI strong support at 10400 followed by 10300 . 10100-10800 PE liquidated  0.22 Lakh in OI so bulls covered position in 10300-10100 PE. FII bought 5.8 K PE and 2.1 K PE were shorted by them. Retail bought 20.4 K PE and 33.2 K PE were shorted by them.

 

  • FII’s bought 96 cores  and DII’s sold 269 cores in cash segment.INR closed at 63.53

Buy above 10460 Tgt 10485,10505 and 10530 (Nifty Spot Levels)

Sell below 10430 Tgt 10410,10385 and 10350 (Nifty Spot Levels)

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