Nifty does price time squaring,ready for Big Move

By Bramesh | November 26, 2018

  • FII’s sold 6  K contract of Index Future worth 167 cores ,11  K Long contract were added by FII’s and 17 K  Short contracts were covered by FII’s. Net Open Interest increased  by 28 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 0.73. Quiz Time: Are you Professional trader
  • As Discussed in Last Analysis As we have discussed in weekly analysis 19 was important time cycle date and we made top for the week on that day and now 24 another imp date effect will be seen on Monday. Bulls need a close above 10600 for the upmove to continue towards 10666/10712. Bearish below 10512 for a move back to 10470/10410. Bear got stopped out, and bulls did rally above 10600 and waiting for target of 10666/10712 as we also did price time squaring today . As today was important time cycle date so till we are holding 10489 bulls will have upper hand for the week. Important intraday time for reversal can be at 12:51/2:06.  Bank Nifty rallies on time cycle date,EOD Analysis

 

 

  • Nifty Nov Future Open Interest Volume is at 2.22 core with liquidation of 6.3 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10243 closed above it and rallied 400 points

 

  • 10700 CE  is having Highest OI  at 32.5 Lakh, resistance at 10700 followed by 10800 .10200-10900 CE liquidated 21 lakh in OI so bears  covered position in range of 10600-10800. FII bought 14.4 K CE and 9.2 K shorted CE were  covered by them. Retail sold 52.5 K CE and 3.9 K  shorted  CE were covered by them.

 

  • 10500 PE OI@42.3 Lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10700 PE added 37 Lakh in OI so bulls added position in range 10400-10500 PE. FII sold 2.8  K PE and 5.1 K shorted  PE were covered by them. Retail bought 198  K PE and 131 K shorted  PE were covered by them.
  • Total Future & Option trading volume at1 7.76 Lakh core with total contract traded at 1.79 lakh , PCR @1.02

 

 

Buy above 10645 Tgt 10666,10680 and 10710 (Nifty Spot Levels)

Sell below 10580 Tgt 10560,10530 and 10500 (Nifty Spot Levels)

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