Nifty gives trending move as expected

By | October 15, 2019

  • As discussed in last analysis  Time Cycle suggests trending move round the corner, Bulls need to move above 11350 for a move back to 11400/11481. Bears will get active below 11280 for a move back to 11230/11185.  We got the trending move as expected,Now Bulls need to move above 11448 for the up move to continue towards 11502/11555/11610.Bears will get active below 11395 for a move back to 11342/11290.
  • FII bought 9.2 K contract of Index Future worth 743 cores, Net OI has decreased by 2.8 K contract, 4.2 K Long contract were added by FII and 8 K short were covered by FII. Net FII Long Short ratio at 0.59, So FII used fall to enter longs and exit shorts.

  • Total Future & Option trading volume at 8.52 Lakh core with total contract traded at 1.36 lakh , PCR @0.92
  • Nifty Oct Future Open Interest Volume is at 1.47 core with addition  of 3.2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11608 closed below it. 
  • 11500 CE is having Highest OI at 21.3  Lakh, resistance at 11500 followed by 11600 .11200-11700 CE liquidated 2.5 Lakh in OI so bears covered position in range of 11500-11600.FII bought 12.3 K CE and 1.8 K CE were shorted by them, Retailers sold 21.8 K CE and 3.8 K CE were shorted by them.
  • 11000 PE OI@30 Lakhs having the highest OI strong support at 11200 followed by 11100 . 11000-11700 PE added 8.9 Lakh in OI so bulls added position in range 11200-11300.FII bought 856 PE and 10 K PE were shorted by them, Retailers bought 166 K PE and 112 K PE were shorted by them.
  • FII’s bought 436 cores and DII’s bought 929 cores in cash segment.INR closed at 71.62

Buy Above 11448 Tgt 11475,11500 and 11525 (Nifty Spot Levels)

Sell Below 11399 Tgt 11376,11343 and 11310  (Nifty Spot Levels)

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