Will Nifty Bulls be able to hold 10410 on time confluence dates ?

By | January 1, 2018

  • FII’s sold 2.2 K contract of Index Future worth 187 cores ,1.9 K Long contract were added by FII’s and 4.1 K Short contracts were added by FII’s. Net Open Interest increased  by 6 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 2.5. Traders New Year’s Resolutions for 2018

 

  • As Discussed in Last Analysis  Range of 10570-600 is crucial and bulls need close above it for the uptrend continuation. Bearish below 10470 for a move towards 10410/10340.As per Yearly outlook 01-03 Jan are important date good move can be seen on those days. Today also high made was 10537 so range of 10570-600 continue to play its role, Bears were vengeful as soon as 10470 broken and made low of 10423 near our target of 10410, Time cycle also showed the effect with a fast fall. 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. Bank Nifty gave fast fall below 25400,EOD Analysis

 

  • Nifty Jan Future Open Interest Volume is at 2.25 core with liquidation of 6.9 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @10545 closed below it.

 

  • Total Future & Option trading volume at 2.94 Lakh core with total contract traded at 1 lakh , PCR @1

 

  • 10700 CE  is having Highest OI  at 32.2 Lakh, resistance at 10700 followed by 10600 .10100-10800 CE added 21 Lakh in OI so bears added major position  in range of 10600-10700 . FII bought 3.4 K CE and 159 shorted CE were covered by them. Retail bought 76.8 K CE and 48.8 K CE were shorted by them.

 

  • 10300 PE OI@47.1 lakhs having the highest OI strong support at 10400 followed by 10300 . 10100-10800 PE liquidated 2.4 Lakh in OI so bulls covered position in 10300-10500 PE. FII bought 8.8 K PE and 7.6 K PE were shorted by them. Retail bought 19 K PE and 40.5 K PE were shorted by them.

 

  • FII’s bought 325 cores  and DII’s sold 1300 cores in cash segment.INR closed at 63.67

Buy above 10466 Tgt 10485,10505 and 10530 (Nifty Spot Levels)

Sell below 10410 Tgt 10390,10370 and 10350 (Nifty Spot Levels)

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