Nifty Analysis Post Corporate Tax Cut Announcement

By Bramesh | September 22, 2019

  • FII bought 58.7 K contract of Index Future worth 5078 cores, Net OI has increased by 43  K contract, 50 K Long contract were added by FII and 7.8 K short were covered by FII. Net FII Long Short ratio at 0.63, So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis  Nifty Bulls will get active above 10848 for a move back to 10900/10952/11000. Bears have there chances only below 10790 for a move back to 10746/10666. Expect trending move in NIfty as per Astro date. We got the big move as which was beyond expectation ,Astro date again showed there power.Most of traders were caught offgaurd. Windfall profit for few traders and many traders busted there account. This is part and parcel of trading and that’s what make this profession so exciting. Bulls now need to move above 11321 for a move back to 11370/11400. Any close above 11370 can see quick move towards 11555. Bears have there chance below 11225 for a move back towards 11176/11100.

  • Total Future & Option trading volume at 19.96 Lakh core with total contract traded at 4.9 lakh highest ever recorded volumes , PCR @0.83
  • Nifty Sep Future Open Interest Volume is at 1.74 core with liquidation of 2.4 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11050 closed above it.
  • 11500 CE is having Highest OI at 27 Lakh, resistance at 11500 followed by 11400 .11000-11600 CE added 15 Lakh in OI so bears added position in range of 11500-11600. FII bought 40.6 K CE Long and 17.4 K CE were shorted by them. Retails sold 165 K CE and 63 K shorted CE were covered by them. 
  • 11000 PE OI@48.5 Lakhs having the highest OI strong support at 11100 followed by 11000 . 11000-11600 PE added 100 K Lakh in OI so bulls added position in range 11000-11100.FII bought 7.8 K PE Long and 40.9 K PE were shorted by them. Retails bought 287 K PE and 135 K PE were shorted by them. 
  • FII’s  bought 35 cores and DII’s bought 3001 cores in cash segment.INR closed at 71.12

Buy above 11300 Tgt 11327,11376 and 11400 (Nifty Spot Levels)

Sell below 11250 Tgt 11221,11168 and 11120 (Nifty Spot Levels)

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