Nifty Bounce from Budget Low

By | February 4, 2019

  • FII’s sold 2.7  K contract of Index Future worth 184 cores 1.8 K Long contract were added by FII’s and 4.5 K Short contracts were added by FII’s. Net Open Interest increased  by 6.3 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 0.81.Historical Nifty Movement on Budget Day
  • As Discussed in Last Analysis   Bulls need to close above 10910 for a move towards 10985/11035/11100. Bears will get active below 10810 for a move towards 10730/10666/10610. Nifty Bulls were able to close above 10910 and now waiting for target of 10985/11035/11100. Bears will get active below 10810 for a move towards 10730/10666/10610.

  • Nifty Feb Future Open Interest Volume is at 1.82 core with addition of 3.3 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10727 closed above it
  • 11000 CE  is having Highest OI  at 33.6  Lakh, resistance at 11000 followed by 11000 .10400-11000 CE added 4.4 lakh in OI so bears  added position in range of 10900-11000. FII bought 2.3 K CE and 2.9K CE were shorted by them. Retail bought 21.8 K CE and 26.4 K CE were shorted by them.
  • 10700 PE [email protected] 31.2 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 16.2  Lakh in OI so bulls added position in range 10700-10600 PE. FII bought 27.8 K PE and 10.5 K PE were shorted by them. Retail bought 96  K PE and 85.1 K PE were shorted by them.
  • Total Future & Option trading volume at 6.08 Lakh core with total contract traded at 1.08  lakh , PCR @0.89

Buy above 10931 Tgt 10955,10980 and 11011 (Nifty Spot Levels)

Sell below 10877 Tgt 10855,10826 and 10800 (Nifty Spot Levels)

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