Nifty does a perfect move from 10512-10600,EOD Analysis

By | October 16, 2018

  • FII’s bought 1.5 K contract of Index Future worth 186 cores ,1.4 K Long contract were added by FII’s and 97 Short contracts were covered by FII’s. Net Open Interest increased  by 1.3 K contract, so fall in Nifty was used by FII’s to enter  long and exit short in  Index futures.FII’s Long to Short Ratio at 0.46. How Ordinary People Became Millionaire Traders
  • As Discussed in Last Analysis  Low made was 10410 so bulls protected 10400 and made high of 10526 near our target of 10530. Close at 10512 which is weekly chopad level suggesting we are ready for big move. Bullish above 10530 for a move back to 10570/10610. Range for 10570-600 very important supply zone.Bearish below 10480 for a move back to 10440/10404/10370. We got the big mvoe as low made today was 10525 and high made 10605 so a perfect trade, Price combined with time cycle always give an additional edge. As have been discussing 10600-10610 is important supply zone and close above it we can see rally to continue towards 10656/10730/10800. Bearish below 10510 for a move back to 10470/10410. Tomorrow another important time cycle date. Important intraday time for reversal can be at 1:03/2:19. Bank Nifty does a perfect move from 25366-25700,EOD Analysis

  • Nifty Oct Future Open Interest Volume is at 2 core with addition of 8.3 Lakh with decrease in  cost of carry suggesting Short position were closed today, NF Rollover cost @11075 closed below it.
  • 10700 CE  is having Highest OI  at 30.5 Lakh, resistance at 10600 followed by 10700 .10200-11000 CE liquidated 8.2  lakh in OI so bears  covered position in range of 10500-10600. FII bought 1.2 K CE and 3.6 K shorted CE were covered by them. Retail bought 16.9 K CE and 17.5 K CE were shorted  by them.

 

  • 10400 PE OI@29.1 Lakhs having the highest OI strong support at 10400 followed by 10300 . 10000-10700 PE added 17 Lakh in OI so bulls added position in range 10400-10500 PE. FII bought 15.3 K PE and 3.3 K  PE were shorted  by them. Retail bought 41.6 K PE and 29.1 K PE were shorted  by them.
  • Total Future & Option trading volume at1 8 Lakh core with total contract traded at 1.22 lakh , PCR @0.94

 

 

Buy above 10600 Tgt 10618,10640 and 10666 (Nifty Spot Levels)

Sell below 10565 Tgt 10540,10510 and 10470 (Nifty Spot Levels)

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One thought on “Nifty does a perfect move from 10512-10600,EOD Analysis

  1. Raj

    Strange thing is FII long short ratio is still indicating lot of shorts in the system and historically whenever FII long short ratio is below 1, market is pulled down wherever here the market is continously moving up for last 3-4 days…can you share your views in this context?

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