Nifty Bulls pass Litmus Test Holding time cycle Low

By | January 4, 2018

  • FII’s sold 5.8 K contract of Index Future worth 448 cores ,1.1 K Long contract were liquidated by FII’s and 4.6 K Short contracts were added by FII’s. Net Open Interest increased  by 3.4 K contract, so rise in market was used by FII’s to exit long and enter  short in  Index futures. FII’s Long to Short Ratio at 1.54. How to deal with Whipsaw in trading

 

  • As Discussed in Last Analysis Till time cycle low of 10410 is held bulls have upper hand. Bullish above 10490 for a move towards 10551/10630. Bearish below 10410 for a move towards 10371/10315. So Nifty Bulls passed the litmus test on holding 10410 and also closing above 10490, price time squaring finally showed result with a 100 pointer move above 10410 but move was very very taxing.  Till 10410 low of  Jan time cycle we can head towards 10551/10630. Bearish below 10410 for a move towards 10371/10315.    Bank Nifty Bulls hold time cycle low for a small rally,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 35.6 Lakh, resistance at 10600 followed by 10700 .10100-10800 CE liquidated 5 Lakh in OI so bears covered major position  in range of 10600-10700 . FII bought 1.4 K CE and 4.2 K CE were shorted by them. Retail sold 140 K CE and 41.9 K shorted CE were covered  by them.

 

  • 10300 PE OI@51.5 lakhs having the highest OI strong support at 10400 followed by 10300 . 10100-10800 PE added 24 Lakh in OI so bulls added position in 10300-10100 PE. FII sold 10.1 K PE and 4.2 K PE were shorted by them. Retail sold 8.5 K PE and 41.9 K shorted PE were covered  by them.

 

  • FII’s bought 212 cores  and DII’s sold 325 cores in cash segment.INR closed at 63.41

Buy above 10510 Tgt 10531,10552 and 10570 (Nifty Spot Levels)

Sell below 10485 Tgt 10460,10440 and 10420 (Nifty Spot Levels)

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