Nifty ready for another big move

By | October 11, 2019

  • As discussed in last analysis  Bears will get active below 11230 for a move back to 11176/11100. We have bounced from gann angle as shown below suggesting we are heading towards 11600 range till we hold to 11230 levels. We closed above 11230 suggesting bulls are still holding ground Bulls will become active above 11250 for a move back to 11321/11392. Bears will get active below 11197 for a move back to 11150/11100. Today is important time cycle date
  • FII sold 7 K contract of Index Future worth 684 cores, Net OI has increased by 17.3 K contract, 5.1 K Long contract were added by FII and 12.2 K short were covered by FII. Net FII Long Short ratio at 0.46, So FII used fall to enter longs and enter shorts.

  • Total Future & Option trading volume at 25  Lakh core with total contract traded at 1.3 lakh , PCR @0.67
  • Nifty Oct Future Open Interest Volume is at 1.45 core with addiiton  of 0.14 Lakh with decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11608 closed below it. 
  • 11500 CE is having Highest OI at 24  Lakh, resistance at 11500 followed by 11600 .11200-11700 CE added 5 Lakh in OI so bears added position in range of 11500-11600.
  • 11000 PE OI@27 Lakhs having the highest OI strong support at 11200 followed by 11000 . 11000-11700 PE added 1 Lakh in OI so bulls added position in range 11200-11300.
  • FII’s  sold 263 cores and DII’s bought 502 cores in cash segment.INR closed at 71.16

Buy Above 11250 Tgt 11276,11300 and 11321 (Nifty Spot Levels)

Sell Below 11197 Tgt 11160,11133 and 11100 (Nifty Spot Levels)

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