Nifty does 1 target on downside below 10820,EOD Analysis

By | December 5, 2018

  • FII’s sold 18.8 K contract of Index Future worth 1164 cores ,4.1 K Long contract were added by FII’s and 22.9 K Short contracts were added by FII’s. Net Open Interest increased  by 13.7 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 0.953. Stock Market and State Elections Part -II
  • As Discussed in Last Analysis  Bears got active but unable to do follow up down move as i have mentioned we are in whipsaw zone and we again saw a low range day today, As we have RBI Policy tomorrow expect volatility around the policy time, Bulls will get active above 10900 for a move towards 10950/ 11000/11100. Bears will get active below 10820 for a move back to 10777/10721/10666 . High made today was 10821 so bears were in front foot from start of the day and did the 1 target of 10777 and now waiting for 10721/10666. Bulls will get active above 10830 for a move back to 10890/10930. Important intraday time for reversal can be at 11:31/2:32.  Bank Nifty continue to trade on downside below Time Cycle low

 

 

  • Nifty Dec Future Open Interest Volume is at 2 core with addition of 2.6 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 27.8 Lakh, resistance at 10800 followed by 11000 .10400-11000 CE added 2.4 lakh in OI so bears  added position in range of 10600-10800. FII bought 8.6 K CE and 2.3 K CE were  shorted by them. Retail bought 142 K CE and 62 K  CE were shorted  by them.

 

  • 10500 PE OI@35.5 Lakhs having the highest OI strong support at 10650 followed by 10600 . 10000-10700 PE added 2.3 Lakh in OI so bulls added position in range 10600-10700 PE. FII sold 17.4 K PE and 4.9  K PE were shorted  by them. Retail bought 26.6 K PE and 7 K PE were shorted  by them.

 

  • Total Future & Option trading volume at1 7.46 Lakh core with total contract traded at 0.85 lakh , PCR @0.85

 

 

Buy above 10800 Tgt 10820,109840  and 10860 (Nifty Spot Levels)

Sell below 10745 Tgt 10730,10700 and 10666 (Nifty Spot Levels)

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