Nifty corrects on break of time cycle low

By | December 22, 2018

  • FII’s sold 3 K contract of Index Future worth 315 cores 2 K Long contract were added by FII’s and 5 K Short contracts were added by FII’s. Net Open Interest increased  by 7.1 K contract, so fall in Nifty was used by FII’s to enter  long and enter  short in  Index futures.FII’s Long to Short Ratio at 0.89 . How to Deal With Fear in Trading
  • As Discussed in Last Analysis   Low made today was 10882 as it was time cycle date break of 10880 can see a quick fall towards 10821/10777. Bullish above 10965 for a move towards 11030/11100. NIfty was not able to discuss time cycle high of 20 Dec as discussed in video High made was 10964 so bulls level of 10965 not triggered and once 10880 broken we saw waterfall decline towards 10777. Now bears need to break 10730 for a move towards 10656/10610. Bullish above 10800 for a move towards 10840/10880/10941. Important intraday time for reversal can be at 10:37/1:37. Bank Nifty Close above 27000,EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 2.13 core with liquidation of 7 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10727 closed above  it.
  • 11000 CE  is having Highest OI  at 58.7 Lakh, resistance at 11000 followed by 11100 .10400-11000 CE added 44.5 lakh in OI so bears  added position in range of 10800-11000. FII sold 518 CE and 2.9 K CE were shorted by them. Retail bought 250 K CE and 136  K  CE were shorted by them.
  • 10500 PE OI@ 32.4 Lakhs having the highest OI strong support at 10500 followed by 10600 . 10500-11000 PE liquidated Huge 49 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 19 K PE and 6.9 K shorted PE were covered  by them. Retail bought 19 K CE and 6.9 K shorted PE were covered by them.
  • Total Future & Option trading volume at1 9.58  Lakh core with total contract traded at 1.96  lakh , PCR @0.97

Buy above 10777 Tgt 10782,10818 and 11850 (Nifty Spot Levels)

Sell below 10730 Tgt 10705,10685 and 10650 (Nifty Spot Levels)

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