Nifty Whipsaw Both Bull and Bear

By | January 22, 2019

  • FII’s sold 5.6 K contract of Index Future worth 460 cores 5.3 K Long contract were liquidated by FII’s and 313 Short contracts were added  by FII’s. Net Open Interest decreased  by 5  K contract, so fall in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 0.85.Trading Mindset of Successful Traders
  • As Discussed in Last Analysis  High made today was 10987 so we did the target of 10977 and also closed above 10935 and till we are holding 10935 we can move towards 11035/11100. Bears will get active below 10870 for a move back to 10821/10777. Nifty bears got whipsawed on short side and bulls were also not able to hold 10935. Bears need to break 10844 Time cycle low and Bulls need to break 10987 for the trending move to be seen, Traders can play this range 10845-10987 till we do not see a breakout. Bears will get active below 10843 for a move back to 10777/10730. Bulls will get active above 10987 for a move back to 11050/11111. Important intraday time for reversal can be at 1:17.Technical Chart Analysis for Bank Nifty

  • Nifty Jan Future Open Interest Volume is at 2.43  core with liquidation of 4.7 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10788 closed above it.
  • 11000 CE  is having Highest OI  at 33.7  Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 1.1 lakh in OI so bears  added position in range of 10900-11000. FII bought 4.9 K CE and 4.5 K CE were shorted by them. Retail bought 42.2 K CE and 21.8 K CE were shorted by them
  • 10700 PE OI@ 33.4 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE liquidated 20 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 36.3  K PE and 4.3 K PE were shorted by them. Retail sold 32.8 K PE and 6.3 K PE were shorted by them.
  • Total Future & Option trading volume at 5.45 Lakh core with total contract traded at 1.02 lakh , PCR @0.95

Buy above 10935 Tgt 10951,10977 and 11000 (Nifty Spot Levels)

Sell below 10910 Tgt 10885,10860 and 10843 (Nifty Spot Levels)

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