Nifty Bulls protect 10410, Litmus Test for next 2 days

By | January 2, 2018

  • FII’s bought 12.5 K contract of Index Future worth 1030 cores ,3.2 K Long contract were covered by FII’s and 9.3 K Short contracts were added by FII’s. Net Open Interest increased  by 6.1 K contract, so fall in market was used by FII’s to exit long and enter  short in  Index futures. FII’s Long to Short Ratio at 2. Traders New Year’s Resolutions for 2018

 

  • As Discussed in Last Analysis Now we are near an important price support zone of 10410-10420 and also near time cycle confluence of 01-03 Jan so we can see price time squaring and another good move. Bullish above 10490 for a move towards 10551/10630. Bearish below 10410 for a move towards 10371/10315. 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. Bank Nifty whipsaw both bulls and bears,EOD Analysis

 

  • Nifty Jan Future Open Interest Volume is at 2.27 core with addition of 1.5 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10545 closed below it.

 

  • Total Future & Option trading volume at 5.25 Lakh core with total contract traded at 1.24 lakh , PCR @0.99

 

  • 10700 CE  is having Highest OI  at 35.5 Lakh, resistance at 10700 followed by 10600 .10100-10800 CE added 16.8 Lakh in OI so bears added major position  in range of 10600-10700 . FII bought 6.7 K CE and 3.8 K shorted CE were covered by them. Retail bought 67.7 K CE and 40.7 K CE were shorted by them.

 

  • 10300 PE OI@49.9 lakhs having the highest OI strong support at 10400 followed by 10300 . 10100-10800 PE added 7.6 Lakh in OI so bulls covered position in 10300-10500 PE. FII bought 16.6 K PE and 2.8 K PE were shorted by them. Retail bought 28.6 K PE and 44.3 K PE were shorted by them.

 

  • FII’s bought 522 cores  and DII’s bought 64.7 cores in cash segment.INR closed at 63.48

Buy above 10450 Tgt 10485,10505 and 10530 (Nifty Spot Levels)

Sell below 10420 Tgt 10400,10370 and 10350 (Nifty Spot Levels)

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