Nifty forms Hanging Man,close above 12000

By | November 7, 2019

  • FII bought 2.5 K contract of Index Future worth 190 cores, Net OI has increased by 9.6  K contract, 6 K Long contract were added by FII and 3.5 K short were added by FII. Net FII Long Short ratio at 0.84, So FII used rise to enter longs and enter shorts.
  • As discussed in last analysis   Bulls need to hold 11940-11948 for rally to continue towards 12029/12080. Bears will get active below 11900 for a move back to 11850/11800. Low made was 11946 and we closed above 12000 so rally can extend towards 12055/12110/12166. Bears will get active below 11940 for a move back to 11890/11821

  • Total Future & Option trading volume at 128.63 Lakh core with total contract traded at 1.13 lakh , PCR @0.80
  • Nifty Nov Future Open Interest Volume is at 1.57 Lakh core with addition of 6.4 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @11814 closed above it. 
  • 12000 CE is having Highest OI at 13.9 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 31.1 Lakh in OI so bears added position in range of 12000-12100.
  • 11800 PE OI@40 Lakhs having the highest OI strong support at 11900 followed by 11800 . 11500-12000 PE added 45 Lakh in OI so bulls added position in range 11800-11900.
  • FII’s bought 926 cores and DII’s sold 635 cores in cash segment.INR closed at 71.00

Buy Above 12021 Tgt 12043,12068 and 12100 (Nifty Spot Levels)

Sell Below 11990 Tgt 11965,11946 and 11910 (Nifty Spot Levels)

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