Nifty hits new Life High after Price Time Squaring at 10410

By | January 6, 2018

  • FII’s sold 14 K contract of Index Future worth 1201 cores ,4.6 K Long contract were added by FII’s and 18.6 K Short contracts were added by FII’s. Net Open Interest increased  by 23.3 K contract, so rise in market was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio at 1.28.  The Radical Power of Humility

 

  • As Discussed in Last Analysis  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.  High made was 10556 so our first target of 10051 done, and also closed above 10490. Price Time Squaring gives an additional edge in choppy market as we know till 10410 low on time cycle date is not broken we will move on upside, the move was slow but rewarding. So Bulls holding 10490  can move towards 10630/10700. Range of 10570-600 will be a strong supply zone so caution is advised on this range . Bearish below 10450  for a move towards 10370/10300. Bank Nifty does 25600 Holding time cycle Low,EOD Analysis

 

  • Nifty Jan Future Open Interest Volume is at 2.52 core with addition of 13.6 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10545 closed above it.

 

  • Total Future & Option trading volume at 3.66 Lakh core with total contract traded at 0.92 lakh , PCR @1.08

 

  • 10600 CE  is having Highest OI  at 41.3 Lakh, resistance at 10600 followed by 10700 .10100-10800 CE added 3.9 Lakh in OI so bears added major position  in range of 10600-10700 . FII bought 17.6 K CE and 6.8 K CE were shorted by them. Retail bought 3.9 K CE and 21.3 K CE were shorted by them.

 

  • 10400 PE OI@60.8  lakhs having the highest OI strong support at 10400 followed by 10300 . 10100-10800 PE added 31 Lakh in OI so bulls added position in 10300-10100 PE. FII bought 14.2 K PE and 18.4 K PE were shorted by them. Retail bought 73.9 K PE and 43.8 K PE were shorted by them.

 

  • FII’s bought 581 cores  and DII’s bought 243 cores in cash segment.INR closed at 63.37

Buy above 10570 Tgt 10594,10620 and 10650 (Nifty Spot Levels)

Sell below 10545 Tgt 10530,10505 and 10485 (Nifty Spot Levels)

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