Nifty Continue to Hold Demand Zone of 10570-10585

By | February 20, 2019

  • FII’s bought 11.7 K contract of Index Future worth 774 cores 5 K Long contract were added by FII’s and 6.7 K Short contracts were covered by FII’s. Net Open Interest decreased  by 1.6 K contract, so fall in Nifty was used by FII’s to enter long and exit short in  Index futures.FII’s Long to Short Ratio at 0.92 Learn How to Pull the Trigger on a Trade
  • As Discussed in Last Analysis   Bulls will become active above 10680 for a move back to 10721/10777/10821. Bears will become active below 10611 for a move back to 10575/10512. High made was 10722 so we did 1 target on upside before tanking almost 100 points from 10721. Bears for active below 10610 but failed to do target of 10575 as low made was 10585. Range of 10570-10585 is very important demand zone as i have discussed on Twitter on 15 Feb. Fresh Short should be taken below 10575 for a move towards 10512/10470.  Long shall be taken above 10666 for a move towards 10721/10777.

  • Nifty Feb Future Open Interest Volume is at 2.19 core with addition of 1.1 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @10727 closed below it
  • 11000 CE  is having Highest OI  at 41.4  Lakh, resistance at 10800 followed by 10900 .10400-11000 CE added 7 lakh in OI so bears  added position in range of 10800-10900. FII sold 999 CE and 961  CE were shorted by them. Retail bought 30.5  K CE and 16.7 K CE were shorted by them.
  • 10700 PE OI@ 24.7  Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE liquidated 8.1  Lakh in OI so bulls covered position in range 10700-10600 PE. FII sold 6.2 K PE and 4.4 K  shorted PE were covered  by them. Retail bought 26.8 K PE and 20.5  K PE were shorted by them.
  • Total Future & Option trading volume at 8.68 Lakh core with total contract traded at 1.35 lakh , PCR @0.90

Buy above 10666 Tgt 10690,10721 and 10755 (Nifty Spot Levels)

Sell below 10610 Tgt 10585,10555 and 10520 (Nifty Spot Levels)

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