Nifty ready for Big move,EOD Analysis

By | October 16, 2018

  • FII’s sold 5.6 K contract of Index Future worth 1207 cores ,8.7 K Long contract were added by FII’s and 6.8 K Short contracts were covered by FII’s. Net Open Interest decreased  by 1.9 K contract, so fall in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 0.92. How Ordinary People Became Millionaire Traders
  • As Discussed in Last Analysis  Nifty opened with a huge gap and closed above 10450 suggesting we can continue up move towards 10530/10570. Bulls need a close above 10600 for this downtrend to get over else,which is a major supply zone still sell on rise market.Nifty Bears will get active below 10400 for a downfall towards 10341/10289/10250. 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. Important intraday time for reversal can be at 11:24/1:01/2:34. Bank Nifty EOD Analysis for 16 Oct

  • Nifty Oct Future Open Interest Volume is at 1.97 core with addition of 5.3 Lakh with decrease in  cost of carry suggesting Short position were added today, NF Rollover cost @11075 closed below it.
  • 10700 CE  is having Highest OI  at 32 Lakh, resistance at 10600 followed by 10700 .10200-11000 CE liquidated 10  lakh in OI so bears  added position in range of 10500-10600. FII bought 11.9 K CE and 3 K shorted CE were covered by them. Retail bought 31.1 K CE and 38.3 K CE were shorted  by them.

 

  • 10000 PE OI@34 Lakhs having the highest OI strong support at 10300 followed by 10200 . 10000-10700 PE liquidated 2 Lakh in OI so bulls covered position in range 10400-10500 PE. FII bought 21.2 K PE and 16.5 K  PE were shorted  by them. Retail bought 43,5 K PE and 42.8 K PE were shorted  by them.
  • Total Future & Option trading volume at1 6.92 Lakh core with total contract traded at 1.7 lakh , PCR @0.83

 

 

Buy above 10530 Tgt 10550,10570 and 10600 (Nifty Spot Levels)

Sell below 10480 Tgt 10460,10440 and 10410 (Nifty Spot Levels)

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