Nifty gave Big Move as per Time Cycle Close above 11000

By Bramesh | February 6, 2019

  • FII’s bought 32.9 K contract of Index Future worth 2817 cores 34 K Long contract were added by FII’s and 1.1 K Short contracts were added by FII’s. Net Open Interest increased  by 35.1 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. Tips for Successful Trading
  • As Discussed in Last Analysis   Today was an important time cycle day break of today high 10956 can see a move of 70-100  points easily so we can move towards 11035/11100 . We got the big move as per expectation and today we were able to close above 11035 which is Quarterly High, Bulls now need to close above 11035 for this week to continue the rally forward 11128/11181/11234. Bears will get active below 11000 for a move back to 10970/10920. In Below Video we explained How Budget High and Low can be used for trading we made low at 10814 near Budget day and today broke Budget day high and saw another 90 points rally from 10985.

  • Nifty Feb Future Open Interest Volume is at 2.11 core with addition of 23.7 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10727 closed above it
  • 11000 CE  is having Highest OI  at 33.6  Lakh, resistance at 11100 followed by 11200 .10400-11000 CE liquidated 0.63 lakh in OI so bears  covered position in range of 10900-11000. FII bought 7.6 K CE and 188 shorted CE were covered by them. Retail bought 1.8 K CE and 27.5 K CE were shorted by them.
  • 10700 PE OI@ 34.4 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 36.9 Lakh in OI so bulls added position in range 10700-10600 PE. FII bought 7.8 K PE and 9.3 K PE were shorted by them. Retail bought 102 K PE and 53.3 K PE were shorted by them.
  • Total Future & Option trading volume at 6.50 Lakh core with total contract traded at 1.45  lakh , PCR @0.96

Buy above 11072 Tgt 11100,11130 and 11155 (Nifty Spot Levels)

Sell below 11030 Tgt 11000,10970 and 10955 (Nifty Spot Levels)

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