Nifty close above 10890,EOD Analysis

FII’s sold 7.1 K contract of Index Future worth 475 cores 4.5 K Long contract were liquidated by FII’s and 2.5 K Short contracts were added by FII’s. Net Open Interest decreased by 2 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 1.06 . How Much Money Do You Really Need To Trade For A Living

As Discussed in Last Analysis High made today was 10923 but unable to close above 10890, Bulls need a close above 10890 for a move back to 10935/11000. Bears will get active below 10817 for a move towards 10730/10666. Bears got stopped out, Bulls were able to close above 10890 now waiting for target of 10935/10977/ 11045/11100. Bears will get active below 10843 for a move towards 10800/10743. Important intraday time for reversal can be at 11:12/2:12. Bank Nifty Bulls rallies 400 points holding 27000

Nifty Jan Future Open Interest Volume is at 2.33 core with liquidation of 0.50 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @10788 closed above it.

11000 CE is having Highest OI at 26.4 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 3.7 lakh in OI so bears added position in range of 10800-11000. FII bought 2 K CE and 1.7 K shorted CE were covered by them. Retail sold 801 CE and 5 K CE were shorted by them.

10500 PE OI@ 33.1 Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE added 10.2 Lakh in OI so bulls added position in range 10700-10800 PE. FII bought 2.3 K PE and 847 PE were shorted by them. Retail bought 76 K PE and 59.3 K PE were shorted by them.

Total Future & Option trading volume at 5.67 Lakh core with total contract traded at 0.88 lakh , PCR @0.85

FII’s sold 48 cores and DII’s bought 142 cores in cash segment.INR closed at 69.68. USD INR Weekly Forecast

Nifty Futures Trend Deciding level is 10901 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10893 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10933 Tgt 10953,10977 and 11000 (Nifty Spot Levels)