Nifty pre-budget Analysis

By | January 30, 2018

  • FII’s sold 16.6 K contract of Index Future worth 1440 cores ,843 Long contract were added by FII’s and 17.4 K Short contracts were added by FII’s. Net Open Interest increased  by 18.3 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 2.3. Option Trading Strategy for Union Budget 2018

 

  • As Discussed in Last Analysis  As close is above 11100 so bulls have upperhand and can move towards our target of 11202/11255/11308/11415. Bearish below 10992 for a move towards 10887/10783.   Nifty  bulls were unable to close above 11100 but were able to protect 10992 so we are back in the trading range after the rise of past few days, As seen in below update gann angle chart budget week we can see a swing of 300-400 points , Higher end of gann angle comes at 11498 and low gann angle comes at 10752 so this can be the possible range in coming few days. Bullish above 11100 for a move towards 11170/11265. Bearish below 10996 for a move towards 10900/10792. Bank Nifty Analysis shows small pullback below 27400,EOD Analysis

 

  • Nifty Feb Future Open Interest Volume is at 2.57 core with addition of 1.8Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11048  closed above it Low made 11053

 

  • Total Future & Option trading volume at 3.52 Lakh core with total contract traded at 1.07 lakh , PCR @0.93

 

  • 11500 CE  is having Highest OI  at 29.6 Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 20 Lakh in OI so bears added position  in range of 11400-11500. FII bought 4.1 K CE and 4.3 K  CE were shorted  by them. Retail bought 75.3 K CE and 36.4 K CE were shorted by them.

 

  • 11000 PE [email protected] lakhs having the highest OI strong support at 11000 followed by 10900 . 10500-11500 PE added 17 Lakh in OI so bulls added  position in 10800-11000 PE. FII bought 12.9 K PE and 2.2 K shorted PE were covered  by them. Retail bought 8.8 K PE and 23.2 K PE were shorted by them.

 

  • FII’s sold 105 cores  and DII’s sold 282 cores in cash segment.INR closed at 63.61

Buy above 11070 Tgt 11100,11121 and 11155 (Nifty Spot Levels)

Sell below 11030 Tgt 11010,10985 and 10930 (Nifty Spot Levels)

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