Nifty Bulls continue to trade near 10882,EOD Analysis

By | December 4, 2018

  • FII’s bought 4  K contract of Index Future worth 401 cores ,1.3 K Long contract were added by FII’s and 90 Short contracts were covered by FII’s. Net Open Interest increased  by 13.9 K contract, so rise in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1. Stock Market and State Elections Part -II
  • As Discussed in Last Analysis  Nifty bulls got stopped out above 10885 and bears also not able to close below 10840  and also unable to break gann angle  as shown below. Bulls will get active above 10882 for a move towards 10930/11000/11100. Bears will get active below 10800 for a move back to 10721/10666. 02 Dec is important time cycle date so effect will be seen on 03 Dec. Nifty Bulls held on to 10882 after opening with gap up as seen in below chart we are in whipsaw zone as election results overhang is also there, So be prepared for whipsaws and best is to do intraday trade. Bulls will get active above 10900 for a move towards 10950/ 11000/11100. Bears will get active below 10840 for a move back to 10777/10721/10666.   Important intraday time for reversal can be at 1:05/2:35.  Bank Nifty Bulls fails to close above 27000,EOD Analysis

 

 

  • Nifty Dec Future Open Interest Volume is at 1.98 core with addition of 3.8 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @10727 and rollover %@ 70.1
  • 11000 CE  is having Highest OI  at 27 Lakh, resistance at 10800 followed by 1100 .10400-11000 CE added 0.43 lakh in OI so bears  added position in range of 10600-10800. FII bought 2.8 K CE and 8.2 K CE were  shorted by them. Retail bought 112 K CE and 72.6 K  CE were shorted  by them.

 

  • 10500 PE OI@34.31.2 Lakhs having the highest OI strong support at 10650 followed by 10600 . 10000-10700 PE added 6.9  Lakh in OI so bulls added position in range 10600-10700 PE. FII sold 824 PE and 12.6 K PE were shorted  by them. Retail bought 84.3  K PE and 52.7 K PE were shorted  by them.

 

  • Total Future & Option trading volume at1 4.25 Lakh core with total contract traded at 1.05 lakh , PCR @1.04

 

 

Buy above 10890 Tgt 10910,10932 and 10950 (Nifty Spot Levels)

Sell below 10840 Tgt 10820,10800 and 10777 (Nifty Spot Levels)

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