Nifty EOD Analysis for 01 Nov

By Bramesh | November 1, 2019
  • As discussed in last analysis  We are approaching the zone of resistance at 11900-11920 unable to cross the same we can expect a pullback. Bulls need to hold 11784-11800 range for the upmove towards 11890/11937. Bears will get active below 11780 for a move back to 11710/11666. We showed a small pullback from 11920 range  now bulls need to move above 11890 for a move back to 11944/11982. Bears will become active below 11840 for a move back to 11777/11721.31 Oct was Mercury Ingress so high and low of 31 Oct very important break of 11945 on upside and break below 11855 can lead to 100-150 points move in Nifty.

  • Total Future & Option trading volume at 26 Lakh core with total contract traded at 1.55 lakh , PCR @0.90
  • Nifty Nov Future Open Interest Volume is at 1.43 Lakh core with addition  of 58 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11814 closed above it. 
  • FII’s bought 1870 cores and DII’s sold 650 cores in cash segment.INR closed at 71.08

Buy Above 11892 Tgt 11920,11945 and 11976 (Nifty Spot Levels)

Sell Below 11840 Tgt 11810,11790 and 11777 (Nifty Spot Levels)

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