Nifty ready for a Big Move,EOD Analysis

By Bramesh | November 3, 2019

  • FII bought 5.6 K contract of Index Future worth 428 cores, Net OI has increased by 2.2 K contract, 3.9 K Long contract were added by FII and 1.7 K short were covered by FII. Net FII Long Short ratio at 0.81, So FII used rise to enter longs and exit shorts.
  • As discussed in last analysis  31 Oct very important break of 11945 on upside and break below 11855 can lead to 100-150 points move in Nifty. Nifty formed an Spinning Top candle along with time cycle date suggesting big move round the corner. Bulls need a close above 10948 for a move back to 12000/12080. Bears need a close below 11840 for a move back to 11777/11710.

  • Total Future & Option trading volume at 6 Lakh core with total contract traded at 0.98 lakh , PCR @0.90
  • Nifty Nov Future Open Interest Volume is at 1.45 Lakh core with liquidation of 2 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11814 closed above it. 
  • 12000 CE is having Highest OI at 17 Lakh, resistance at 12000 followed by 12100 .11200-11700 CE added 9 Lakh in OI so bears added position in range of 12000-12100. FII bought 35.4 K CE and 9.1 K CE were shorted by them. Retailers bought 70 K CE and 88 K CE were shorted by them.
  • 11600 PE OI@18 Lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-11700 PE added 10 Lakh in OI so bulls added position in range 11600-11700.FII bought 12.8 K PE and 23 K PE were shorted by them. Retailers bought 612 K PE and 131 K PE were shorted by them.
  • FII’s bought 533 cores and DII’s sold 136 cores in cash segment.INR closed at 71.08

Buy Above 11910 Tgt 11945,11970 and 12000 (Nifty Spot Levels)

Sell Below 11877 Tgt 11845,11810 and 11777 (Nifty Spot Levels)

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